PYTH surges 60% as US government taps Pyth network to verify on-chain economic data

• The US Department of Commerce has published GDB on blockchain for the first time.
• The company has selected Pyth Network as its Oracle platform for economic data verification and distribution.
• PYTH saw a sharp price increase following the news.

The United States continues to establish itself as an international hub for blockchain and cryptocurrency companies.

In a groundbreaking step confirmed The US Department of Commerce announced today that it will begin publishing GDP (Gross Domestic Product) data on blockchain, starting with last month’s numbers.

The announcement sparked bullish sentiment across the cryptocurrency space, especially for the project the government has chosen.

The US Department of Commerce has partnered with nine blockchains and leading exchanges.

To ensure data accessibility and reliability, the company chose Chainlink and Pyth Network.

Pyth Network is working with @CommerceGov to power the distribution of gross domestic product data onchain.

Chief Executive Officer of Douro Labs, @mdomcahill was the only person quoted in the White House exclusive press release with @Bloomberg to speak on how Pyth Network is… pic.twitter.com/3HfZ65ilIK

— Pyth Network 🔮 (@PythNetwork) August 28, 2025

Pyth network at the center of the historic parade

The ministry announced that it has released the official hash of its quarterly GDP data on nine networks: Bitcoin, Ethereum, Solana, Avalanche, Arbitrum, Tron, Polygon PoS, Optimism, Stellar and Arbitrum One.

Additionally, the company has collaborated with leading exchanges such as Coinbase, Kraken, and Gemini to enable the latest release.

Additionally, the US Department of Commerce has tapped oracle providers Chainlink and Pyth Network to ensure reliability and accuracy.

PYTH immediately rallied following the news as the community celebrated the project’s “validation moment.”

Pyth Network is focused on bringing high-quality data onto the chain in real-time.

Thus, the announcement marked a turning point for the altcoin as it expects lucrative use cases.

The government’s trust in Pyth’s Oracle service confirms its infrastructure and status as a trusted actor in the integration between decentralized networks and public institutions.

Ratification by the government increases trust

US Secretary of Commerce Howard Lutnick commented on the benefits of this move.

He sees it as part of the president’s strategy to make America the center of blockchain. Lutnick said:

It is only fitting that the Department of Commerce and President Donald Trump, the crypto president, release economic statistics data about the blockchain. We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world.

The high-profile award established the Pyth network as a trusted, government-authorized oracle protocol.

Officials confirmed that it will use oracles like Pyth to publish other data sets beyond GDP.

PYTH Kursausblick

The native coin exploded within minutes of the collaboration updates.

PYTH is trading at $1891, having gained around 62% from its intraday low.

The astonishing 2,400% increase in trading volume signals massive interest in the altcoin.

Additionally, Pyth Network’s market cap has exceeded $1 billion for the first time since February 2025.

Support from the US government positions PYTH for impressive performance in the coming months and years.

The development could strengthen institutional demand from companies exploring blockchain to provide accurate and reliable data.

The prevailing sentiment suggests that PYTH may have found the catalyst it needs to rally to its all-time highs above $1 in 2024.