Pyth Network to Distribute U.S. Economic Data on Blockchain; PYTH Token Surges Over 90% in 24 Hours
On August 28, 2025, the U.S. Department of Commerce announced a strategic partnership with Pyth Network (PYTH) and Chainlink (LINK) to provide key official economic indicators—including Gross Domestic Product (GDP) and Personal Consumption Expendures (PCE) inflation data—onchain through blockchain technology. This marks a significant step towards integrating real-time, transparent economic data into multiple blockchain ecosystems.
Pyth Network and Chainlink to Deliver Official Economic Data Onchain
Under the new arrangement, Pyth Network will handle the distribution of five years’ worth of U.S. GDP data, while Chainlink will provide six major macroeconomic indicators via a multi-chain network that includes Ethereum, Avalanche, and other blockchains. The objective is to reflect important official economic metrics such as the GDP and PCE inflation index in real time across leading blockchain platforms including Bitcoin, Ethereum, Solana, Avalanche, and Polygon.
Major cryptocurrency exchanges such as Coinbase, Kraken, and Gemini will also collaborate in publishing this economic data, ensuring widespread accessibility and use by traders, developers, and decentralized finance (DeFi) applications.
Official Statements Highlight Economic Transparency and Accessibility
U.S. Secretary of Commerce Howard Lutnick emphasized, “This initiative will make the economic realities of the United States immutable and globally accessible.” The move aims to enhance the transparency and reliability of economic data dissemination in the digital financial ecosystem.
Douro Labs CEO Mike McCahill, the only spokesperson quoted in the White House’s exclusive Bloomberg press release, highlighted Pyth Network’s role in powering onchain distribution of critical economic data, underscoring the innovation and practical utility of blockchain for economic analytics.
PYTH Token Experiences Massive Price Surge
Following the announcement, PYTH token price skyrocketed, rising more than 90% within 24 hours to reach $0.22. The token’s 7-day price increase surpassed 95%, accompanied by a trading volume that broke $2.1 billion. Technical analysis indicates a bullish divergence in the Moving Average Convergence Divergence (MACD) indicator, signaling a slowdown in previous downward trends and the formation of upward momentum.
Trading activity on South Korea’s Upbit exchange reflected this enthusiasm, with the PYTH/KRW market showing a surge in volume and the price currently trading at approximately 327 Korean Won.
Market Perspectives and Future Outlook
Investor interest surged as the strategic partnership was revealed, with market analyst Javon Marks noting, “This movement could represent the early stages of a larger upward trend, potentially pushing PYTH prices into the $0.50 range.” Marks pointed to the MACD line crossing above the signal line as confirmation of this bullish trend.
Nevertheless, onchain data from blockchain analytics firm Stalkchain revealed significant short-term selling by large holders, with about $166,000 worth of PYTH tokens sold in the last 24 hours, making PYTH the most sold token by smart money during this period. Experts warn of possible short-term corrections, but remain optimistic about Pyth Network’s long-term growth due to increasing institutional participation and enhanced transparency.
Given the overall bearish market conditions, investors are advised to proceed with caution and practice patience.
Additional Market Developments: Bitcoin Hyper Pre-Sale Gains Traction
Amid the evolving crypto landscape, some investors are eyeing promising pre-sale projects like Bitcoin Hyper (HYPER). This native Bitcoin Layer 2 project combines Bitcoin’s security with Solana Virtual Machine (SVM) speed to facilitate scalable decentralized applications (dApps), smart contracts, and meme coin creation with low fees and fast processing. The HYPER pre-sale has already raised over $12.7 million.
At the current pre-sale stage, HYPER tokens are priced at $0.012825, with prices expected to rise incrementally as the sale progresses. Purchases can be made on the official Bitcoin Hyper website using cryptocurrencies or credit cards.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Cryptocurrency prices are highly volatile. Readers are encouraged to conduct their own research before making investment decisions.
Author: Sanghee Yun, specializing in blockchain and crypto content with extensive experience in North American and Korean financial media.
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