Pyth Network News: U.S. GDP Data on Blockchain Sparks Massive Growth

The Pyth network has become one of the most talked-about projects in crypto this week. Over the last 24 hours, its value jumped by 94%, while the broader crypto market actually fell by 1.26%.

This strong rise has also pushed its seven-day rally to 96%.

Many analysts are now closely watching this surge, asking what is driving the momentum behind this currency and how long it might last.

U.S. Government Partnership Brings GDP Data on Blockchain

One of the biggest reasons for the rally is a new partnership between the U.S. Department of Commerce and the pyth network .

Source: X (previously Twitter)

The price surge after the department announced it will start publishing official GDP data on Blockchain using both Pyth and Chainlink as Oracles .

Coinbase, Kraken and Gemini were selected to streamline distribution.

This marks the first time in U.S. history that a federal body will use blockchain technology to distribute official economic statistics.

The announcement is seen as a historic move, giving this project credibility far beyond the crypto world.

By recording data directly on blockchains like Bitcoin, Ethereum, Solana, and Polygon, the government is ensuring economic information is permanent and tamper-proof.

For investors, this raises confidence in the project and adds weight to the current pyth network news . The chainlink price has also been impacted by this event the coin went from 23.94 to 25.79 experiencing over 6% increase, due to profit taking it dropped down.

The White House has called this move a step toward greater transparency in economic reporting.

Experts believe it could lead to more government contracts in the future, a market valued at more than $7.6 billion for financial data.

Technical Breakout and Market Momentum

Apart from the government partnership, market charts also explain the rise in interest.

• Analysts noted that RSI level at 87 recently crossed into the “overbought” zone, which usually means strong buying activity.

• Also, its MACD indicator signaled bullish momentum.

• Trading volume also exploded by over 7,000%, reaching $2.1 billion in a single day.

• This combination shows both excitement and risk.

Source: CoinMarketCap

At the time of writing it is trading at $0.2089 with an increase of 75% and the trading volume has surged by 7846% in the last 24 hours as per the CoinMarketCap .

Pyth network price prediction

Bullish Case: Such strong demand could push the pyth coin price even higher to $0.27–$1.10, if resistance levels are broken.

Bearish Case: Extreme buying activity can often result in sharp corrections to$0.17–$0.18, if investors begin taking profits.

Expanding Ecosystem and Real-World Use

The pyth network is also seeing growth in its ecosystem. In late July, it launched real-time stock market data feeds from Hong Kong. It covers more than $3.7 trillion worth of equities.

It has also partnered with RHEA Finance to improve DeFi lending and trading through artificial intelligence.

These steps show that it is not just a cryptocurrency anymore.

It is expanding into traditional financial markets, supporting over 250 DeFi applications with over 380 price feeds. This growth contributes to investor confidence.

Conclusion

The development of the pyth network occurs at an opportune time when governments and institutions are beginning to embrace blockchain for use in the real world. The U.S. collaboration to publish GDP data is a watershed moment, bringing credibility to the project.

Although short-term risk exists because of excessive speculation, long-term prospects appear bright if adoption gathers momentum.

Disclaimer: This is for information purposes only and should not be regarded as financial advice. Readers should make their own investigations before making any investment decisions.