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

Arthur Hayes speaking about Bitcoin as Japan’s new Prime Minister announces economic stimulus measures

Arthur Hayes Predicts $1M Bitcoin as Japan’s New PM Unveils Economic Stimulus

October 22, 2025

Arthur Hayes predicts Bitcoin could hit $1M as Japan’s new PM Sanae Takaichi launches economic stimulus, signaling potential...

blockchain

Bolivia’s President-Elect Rodrigo Paz Turns to Blockchain to Fight Corruption

October 20, 2025

Bolivia’s new president Rodrigo Paz plans to use blockchain in public procurement and crypto asset declarations as part...

Metaplanet and Bitcoin Magazine logos, symbolizing their new partnership to expand operations in Japan.

Japan Moves Toward Allowing Banks to Buy Bitcoin Under New Regulatory Framework

October 19, 2025

Japan’s regulators are reviewing changes that could let banks buy and hold Bitcoin, signaling a major shift in...

24H HOLD token price chart showing 35% surge despite market pullback

Crypto markets surge as Trump confirms October 31 summit with Xi Jinping

October 19, 2025

Crypto markets rebound after Trump confirms October 31 summit with Xi Jinping, easing US-China tensions and sparking optimism...

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