PYTH Surges 60% on Pyth Network’s U.S. Commerce Partnership

PYTH, the native token of the Pyth Network, surged over 60% to reach $0.2 after the project announced a partnership with the United States Department of Commerce. Notably, the milestone reflects months of collaboration with Secretary of Commerce Howard Lutnick. The effort aims to bring official government economic data onto blockchain networks, marking a first-of-its-kind integration of public data and decentralized technology.

Pyth emphasized that the partnership marks a key step in the public sector’s adoption of decentralized infrastructure. It also reinforces the network’s role as a provider of secure, transparent, and verifiable on-chain data for applications across finance and enterprise.

On-chain Data for Finance and Government

According to the project’s blog post, Secretary Lutnick supports the use of blockchain to modernize data systems. The Department of Commerce views this initiative as a step toward positioning the U.S. as a leader in financial data innovation.

Meanwhile, this backing aligns with Pyth’s growing presence, which now spans over 100 blockchains. It also serves more than 600 applications that rely on its data feeds. The network has become a widely used source of truth for on-chain economic information. Its reach is expected to expand as both government and financial institutions explore blockchain solutions.

To maintain trust and security, Pyth uses a transparent relationship with data publishers and a unique staking model. Bringing official economic data on-chain allows the network to enhance transparency and accessibility. It also improves usability across decentralized finance (DeFi), enterprise platforms, and public reporting.

Chainlink Joins Blockchain Data Race

In addition to Pyth, the U.S. government partnered with Chainlink to deliver official economic and financial data on blockchain networks. Chainlink confirmed that the integration will initially support ten networks, including Arbitrum, Avalanche, Base, Botanix, Ethereum blockchain, Linea, Mantle, Optimism, Sonic, and ZKsync. This setup provides a platform for government data to reach blockchain users.

Through its Bureau of Economic Analysis, the Department of Commerce has begun publishing six key economic indicators on these networks. These indicators cover GDP, inflation, and domestic demand and are updated monthly or quarterly in line with official releases. Support for additional networks may be added over time, depending on user demand.