Pyth Network’s token saw a rapid surge on Thursday, climbing from under $0.12 to briefly touch $0.20 before stabilizing near $0.175. The move marks a 48% increase on the day, with trading volumes sharply elevated and the market cap crossing $1 billion for the first time since February.
The price reaction followed confirmation that the U.S. Department of Commerce has partnered with Pyth Network to bring official economic data – starting with GDP figures – onchain.
Government Data Now Onchain
The partnership, officially announced by the Department of Commerce, will see Pyth Network provide blockchain-based distribution of U.S. macroeconomic indicators, including quarterly GDP data from the past five years. The initiative aims to make economic statistics publicly accessible, verifiable, and updated in real time across decentralized networks.
According to the announcement, the data is being integrated across multiple blockchain ecosystems, including Ethereum, Avalanche, Solana, and Base.
Statements From Officials
Mike Cahill, CEO of Douro Labs and a key contributor to Pyth, was quoted in the White House’s press release, calling the project the start of “a new era” for blockchain infrastructure. Commerce Secretary Howard Lutnick praised the initiative, stating that the move would make U.S. economic statistics “immutable and globally accessible.”
The project is part of a broader effort by the Trump administration to increase blockchain adoption across federal agencies.
Background on Pyth Network
Pyth Network is a decentralized oracle system that delivers real-time financial data to blockchains. It sources pricing information from institutional providers and distributes it for use in DeFi applications.
The recent collaboration with the Department of Commerce positions Pyth as a core channel for disseminating official government data, expanding its role beyond traditional finance feeds.
The announcement places Pyth at the center of one of the most high-profile government blockchain initiatives to date. With further integrations planned and additional datasets expected to be added, the development signals a growing shift toward public blockchain infrastructure in U.S. data policy.
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