Pyth Network Scores US Government Deal to Put GDP Data On-Chain, PYTH Surges 50%
- Pyth will initially publish quarterly GDP figures going back five years, with plans to expand into other macroeconomic datasets
- The news sparked a rapid market response with Pyth’s native token, PYTH, surging approximately 50% in intraday trading
- The Department of Commerce also partnered with Chainlink to publish multiple macroeconomic indicators, such as GDP, the PCE Price Index, and Real Final Sales
Pyth Network has been chosen by the US Department of Commerce (through Secretary Howard Lutnick) to verify and distribute official economic data on-chain. This is a huge step for the crypto industry, showing that the government is now using decentralized technology.
Pyth will initially publish quarterly GDP figures going back five years, with plans to expand into other macroeconomic datasets, ushering in a new era of transparent, blockchain-native data.
Why Did the US Government Choose Pyth?
Already integrated across over 100 blockchains and supporting more than 600 applications, Pyth is positioned as a trusted, decentralized oracle network capable of handling cryptographically verifiable data. Its transparent data model and staking-based security furthe…
The post Pyth Network Scores US Government Deal to Put GDP Data On-Chain, PYTH Surges 50% appeared first on Coin Edition.
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Pyth Network Scores US Government Deal to Put GDP Data On-Chain, PYTH Surges 50%
- Pyth will initially publish quarterly GDP figures going back five years, with plans to expand into other macroeconomic datasets
- The news sparked a rapid market response with Pyth’s native token, PYTH, surging approximately 50% in intraday trading
- The Department of Commerce also partnered with Chainlink to publish multiple macroeconomic indicators, such as GDP, the PCE Price Index, and Real Final Sales
Pyth Network has been chosen by the US Department of Commerce (through Secretary Howard Lutnick) to verify and distribute official economic data on-chain. This is a huge step for the crypto industry, showing that the government is now using decentralized technology.
Pyth will initially publish quarterly GDP figures going back five years, with plans to expand into other macroeconomic datasets, ushering in a new era of transparent, blockchain-native data.
Why Did the US Government Choose Pyth?
Already integrated across over 100 blockchains and supporting more than 600 applications, Pyth is positioned as a trusted, decentralized oracle network capable of handling cryptographically verifiable data. Its transparent data model and staking-based security furthe…
The post Pyth Network Scores US Government Deal to Put GDP Data On-Chain, PYTH Surges 50% appeared first on Coin Edition.
Read More