BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

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

by Dan K
Aug 28, 2025 - 10:13 pm
in Blockchain
PYTH token price soars as Trump administration selects blockchain oracles for economic data

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 onchain.

According 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 hours.

Oracles 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 Avalanche.

Pyth and Chainlink were tapped as key oracle providers, ensuring verified government data is disseminated securely across decentralized networks. Both platforms specialize in bridging offchain financial data such as stock prices, commodities and FX rates into blockchain ecosystems for DeFi applications.

Trump Administration’s Pro-Crypto Shift

The move reflects the Trump administration’s increasingly proactive stance on blockchain adoption. It 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 McEntarfer.

Broader Push for Digital Asset Adoption

The blockchain data initiative complements a series of pro-crypto legislative efforts under Trump’s leadership. Recent milestones include passage of the GENIUS Stablecoin Act, House approval of a comprehensive market structure bill, and progress on an anti-CBDC measure.

At 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.

Tags: Blockchain
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service