- PYTH rose to $0.2103, marking a 77% intraday gain and its strongest price since February.
- The U.S. Commerce Department tapped Pyth and Chainlink to publish GDP data across nine blockchains.
- The initiative follows political disputes over employment statistics and aligns with broader pro-crypto policies.
The Pyth Network token recorded a sharp rally on Thursday after the U.S. Department of Commerce confirmed that official economic data would be published on blockchain networks using decentralized oracle providers. The move gave Pyth a central role in data distribution and verification, lifting its token price to its highest level in months.
Price Action and Market Impact
Tracking the ongoing market action at the time of press, CoinMarketCap data at the time of press reveals that Pyth Network’s token trading at $0.2103 after a sharp intraday surge. Price momentum accelerated around 4:00 PM EAT, with the token climbing from $0.118 to above $0.20 in a few hours. The move marked an intraday gain exceeding 77%, pushing the asset to its strongest level since February.
Following the initial breakout, PYTH maintained a volatile upward trajectory with peaks near $0.23 before stabilizing. By mid-morning, the token traded consistently above $0.20, supported by trading volumes that increased sharply over the same period. The overall movement reflects a sustained rally within one trading day.The price reaction came directly after the Commerce Department confirmed that quarterly GDP figures would be published across nine blockchain networks, including Bitcoin, Ethereum, Solana, Tron, Stellar, and Avalanche.
Oracle Partnerships and Role in Data Dissemination
The Commerce Department announcement named both Pyth Network and Chainlink as key infrastructure partners. The two networks will verify and disseminate official data across supported blockchains, ensuring real-time delivery and security.
Both providers supply decentralized oracles that connect offchain information, such as market prices and economic statistics, with blockchain ecosystems. This infrastructure has been widely used in decentralized finance and now enters direct use within official government data reporting.
Political Context and Policy Shifts
The selection of blockchain oracles follows political tension over U.S. government statistics. Earlier this month, revised employment figures triggered public disputes after large adjustments were announced by the Bureau of Labor Statistics. President Donald Trump dismissed the data as inaccurate and subsequently removed Commissioner Erika McEntarfer from the role.
The administration has accelerated blockchain initiatives in parallel with broader pro-crypto policies. Congress recently advanced several measures, including the GENIUS Stablecoin Act, a digital asset market structure framework, and legislation blocking the rollout of a central bank digital currency. These bills now await Senate review.
The integration of Pyth Network and Chainlink into federal data distribution reflects a significant step in blockchain’s role within government operations. The development also positions decentralized oracles as infrastructure that extends beyond finance, linking traditional economic reporting with public blockchain verification.
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