Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
The U.S. Commerce Department Boosts Pyth Network with Economic Data Initiative

The U.S. Commerce Department Boosts Pyth Network with Economic Data Initiative

CointurkCointurk2025/08/28 18:45
By:Fatih Uçar

In Brief The U.S. Department accepted Pyth Network for economic data verification. Pyth price surged by over 50% following the announcement. Officials aim to enhance transparency and trust in financial reporting.

The U.S. Commerce Department had been hinting about releasing economic data on public networks, and today, Chainlink $25 cleared up any doubts with a last-minute announcement revealing that this data is now live. The announcement sparked a rapid surge in Pyth Network’s value due to its involvement in the initiative.

Why is Pyth Coin Rising?

According to announcements from Solana $211 and Pyth’s official accounts, Pyth Network will play a role in verifying data on the chain. While Chainlink had mentioned 10 networks in its announcement, a Bloomberg last-minute report highlighted Pyth Network alongside BTC, ETH, and Solana.

The U.S. Commerce Department Boosts Pyth Network with Economic Data Initiative image 0

Following the announcement, Pyth’s price, which was at $0.117, climbed to nearly $0.19, marking an increase of over 50%. The official Pyth Network account noted:

“The U.S. Commerce Department has chosen Pyth Network to verify and distribute economic data on the network. Pyth is honored to collaborate closely with the Commerce Department, being selected as the official data provider for this historic initiative.

This collaboration positions the U.S. as a global leader in finance, opening new horizons in transparency, access, and trust.

Pyth ensures that official statistics are released in a verifiable and immutable manner, ushering in a new chapter on how governments can utilize decentralized technologies. Verified onchain economic data will initiate a new wave in tokenization, economic transparency, and data accountability.

Initially, Pyth plans to release GDP data from the past five years on a quarterly basis and intends to expand the initiative to support a broader set of economic data. As governments modernize data infrastructures, Pyth stands ready to provide a secure infrastructure for digital transparency.”

Broader Network Release

The Commerce Department published a list differing from Chainlink’s announcement, indicating broader reach:

“The U.S. Government has published the latest GDP figures on Bitcoin $112,430 , Ethereum $4,491 , Solana, TRON, Stellar , Avalanche , Arbitrum, and Polygon .” – U.S. Commerce Department

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

GTC -141.24% 24H Drop Amid Sharp Short-Term Volatility

- GTC plummeted 141.24% in 24 hours to $0.332, despite a 2830.88% monthly surge. - The token previously rose 86.71% in seven days, showing sharp short-term volatility. - Analysts suggest the crash may stem from speculative unwinding or technical stop-loss triggers. - The extreme price swings raise doubts about the sustainability of recent bullish momentum.

ainvest2025/08/29 01:28
GTC -141.24% 24H Drop Amid Sharp Short-Term Volatility

Investors Await Volume Confirmation as Sonic Nears Key Breakout Point

- Sonic (S) forms a bullish broadening wedge near $0.40, with price consolidating at the value area low, signaling potential upward breakout. - Key resistance at $0.40 aligns with value area high; volume surge needed for sustained move toward $0.50. - Sonic Labs’ $150M token issuance aims to boost U.S. market demand, adding fundamental catalyst for price appreciation. - Volume analysis critical: declining during consolidation, but sharp increase required to confirm bullish momentum. - Traders monitor price

ainvest2025/08/29 01:27
Investors Await Volume Confirmation as Sonic Nears Key Breakout Point

Investor Attention Shifts from SUI and SHIB to BlockDAG's High-Risk Promise

- SUI and SHIB tokens struggle with stagnant prices near $3 and $0.000012, lacking bullish momentum despite strong infrastructure and partnerships. - A BlockDAG-based project raises $386M in presale, offering 2900% ROI projections, attracting investors with scalable architecture and high-risk potential. - Analysts highlight market divergence: established tokens underperform while innovative projects like BlockDAG capture investor interest despite volatility risks.

ainvest2025/08/29 01:27
Investor Attention Shifts from SUI and SHIB to BlockDAG's High-Risk Promise

Ethereum News Today: "Arbitrum's Surge, PEPE's Dip, and MAGACOIN's Moonshot Signal Altcoin Shift"

- Arbitrum (ARB) surges 25% monthly, outperforming layer-2 and crypto markets, driven by Timeboost upgrades and PayPal PYUSD integration. - Pepe (PEPE) drops 2.85% in 24 hours despite $548M daily trading volume, with analysts warning of potential 30% 2025 decline amid shifting capital to utility tokens. - MAGACOIN FINANCE raises $12.5M in presale with dual audits, positioned as 2025 moonshot amid Ethereum staking unlock-driven altcoin rotation. - Market shifts highlight Arbitrum's TVL growth and MAGACOIN's

ainvest2025/08/29 01:27
Ethereum News Today: "Arbitrum's Surge, PEPE's Dip, and MAGACOIN's Moonshot Signal Altcoin Shift"