The Pyth Network has seen a dramatic surge in its value after the U.S. Department of Commerce announced plans to publish gross domestic product (GDP) data on the blockchain, using Pyth as its trusted oracle platform. This historic move marks a pivotal moment for the integration of blockchain technology with government statistics, signaling the U.S.’s commitment to becoming a global leader in cryptocurrencies and blockchain applications.
U.S. Government Utilizes Pyth Network for GDP Publication
The U.S. Department of Commerce made a significant announcement today: it will start publishing GDP data on the blockchain, beginning with last month’s figures. This decision has ignited bullish sentiment within the cryptocurrency sector, particularly for Pyth Network, the selected platform for ensuring the reliability and distribution of economic data.
According to the government, it collaborated with nine major blockchains and exchanges, including notable names like Coinbase and Kraken. For ensuring data accuracy and accessibility, the department has employed both 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. pic.twitter.com/3HfZ65ilIK
— Pyth Network 🔮 (@PythNetwork) August 28, 2025
Pyth Network’s Role in a Historic Transition
In an unprecedented move, the Department of Commerce revealed it has published the official hash of its quarterly GDP data across nine blockchains, including Bitcoin, Ethereum, and Solana, among others. Pyth Network’s immediate response to the announcement was notable, with the community celebrating this landmark achievement.
Pyth Network aims to deliver real-time, high-quality data on-chain, and this announcement signifies a turning point for the altcoin, as it anticipates lucrative use cases ahead. The government’s reliance on Pyth’s oracle service underscores its infrastructure’s credibility and integrity as an intermediary between decentralized networks and public institutions.
Government Endorsement Boosts Confidence in Pyth
U.S. Secretary of Commerce Howard Lutnick shared his insight on the benefits of this landmark decision, framing it as part of President Trump’s broader strategy to position America as a blockchain hub. He stated:
“It is entirely appropriate that the Department of Commerce and President Donald Trump, the crypto president, publicly release economic statistical data on the blockchain. We make America’s economic truth immutable and accessible to the world like never before, solidifying our role as the global blockchain capital.”
This high-profile recognition has elevated Pyth Network’s reputation as a government-sanctioned oracle protocol. Officials have indicated that Pyth will continue to be leveraged for future data releases beyond GDP.
PYTH Price Outlook
In the wake of this announcement, PYTH’s native token skyrocketed, trading at $1,891—marking a 62% increase from its daily low. This surge, coupled with a staggering 2,400% spike in trading volume, indicates significant interest in the altcoin.
The current market capitalization of Pyth Network has also crossed the billion-dollar threshold for the first time since February 2025. With the U.S. government’s endorsement, PYTH is poised for impressive growth in the months and years ahead.
This development could enhance institutional demand from companies looking to leverage blockchain for accurate and reliable data. Current sentiment suggests that PYTH could have the momentum needed to reach its historical highs from 2024, surpassing the $1 mark.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
