PYTH Goes Parabolic as Trump Admin Taps Blockchain Oracles for Data Verification

PYTH Token Skyrockets on Government Announcement The native token of the Pyth Network surged Thursday after the US Department of Commerce confirmed it had chosen Pyth and Chainlink to help verify and distribute official economic data ￰0￱ to CoinMarketCap, PYTH briefly peaked above $0.20, gaining more than 70% in a single day before easing slightly to $0.19. The rally lifted its market capitalization above $1 billion, with trading volumes soaring more than 2,700% in 24 ￰1￱ at the Center of Blockchain Integration The Commerce Department’s initiative will see quarterly GDP figures published across nine blockchains, including Bitcoin, Ethereum, Solana, Tron, Stellar and ￰2￱ and Chainlink were tapped as key oracle providers, ensuring verified government data is disseminated securely across decentralized ￰3￱ platforms specialize in bridging offchain financial data such as stock prices, commodities and FX rates into blockchain ecosystems for DeFi ￰4￱ Administration’s Pro-Crypto Shift The move reflects the Trump administration’s increasingly proactive stance on blockchain ￰5￱ comes amid heated debate over the reliability of official government statistics, particularly labor market data published by the Bureau of Labor Statistics (BLS).

Earlier this month, President Trump accused the BLS of manipulating figures after a major downward jobs revision, subsequently dismissing Commissioner Erika ￰6￱ Push for Digital Asset Adoption The blockchain data initiative complements a series of pro-crypto legislative efforts under Trump’s ￰7￱ milestones include passage of the GENIUS Stablecoin Act, House approval of a comprehensive market structure bill, and progress on an anti-CBDC ￰8￱ the regulatory level, Trump’s SEC has approved multiple cryptocurrency ETFs and clarified that liquid staking is not a security, signaling a friendlier stance toward innovation in digital assets.