The price of PYTH increased by 100% when the Trump administration used Oracle blockchain for verification of data.

The native Token of the Pyth Network recorded strong growth on Thursday after the project confirmed that they were selected by the U.S. Department of Commerce for verification and distribution of on-chain economic data. This is an important step, bringing blockchain technology to the center of government’s official processes and highlighting the essential role of data Oracles.

PYTH price chart | Source: Bitcoin MagazineAccording to data from Bitcoin Magazine, the PYTH token reached a peak of over 0.24 USD, with a daily increase of more than 100%. At this moment, its price is fluctuating below 0.24 USD, still up about 95% compared to the peak.

This surge has brought PYTH to its highest level since February, raising its market capitalization above 1 billion USD, while the trading volume has skyrocketed by more than 2,700% in the past 24 hours.

PYTH is the only token that has recorded such a strong increase, even though the announcement from the Department of Commerce has confirmed that quarterly GDP figures will be published on nine different blockchains, including Bitcoin, Ethereum, Solana, Tron, Stellar, and Avalanche. Chainlink is also mentioned alongside Pyth Network as an important Oracle partner in data distribution.

The highlight of Pyth and Chainlink lies in their coordinating role as Oracles, ensuring that data published by the government is distributed and secured across blockchain networks.

Pyth Network is a decentralized Oracle system that provides real-time financial market data directly to blockchains. Similar to Chainlink, it provides the necessary infrastructure to transmit off-chain data — such as stock prices, exchange rates, and commodities — onto the chain for use in decentralized financial applications (DeFi).

The Trump administration is increasingly strongly promoting support for cryptocurrency

The acceptance of blockchain technology by the administration of President Donald Trump occurred against a backdrop of strong criticism of the government's official statistics, particularly data on the labor market published by the Bureau of Labor Statistics (BLS).

The tension reached a peak earlier this month after a major adjustment to the employment figures, prompting Trump to declare that these figures had been "fraudulent" for political purposes. Shortly thereafter, Trump fired BLS Commissioner Erika McEntarfer.

The government's blockchain initiative is part of a broader effort to prioritize the adoption and innovation of digital assets. This program has led to the recent passage of the GENIUS Stablecoin Act and the approval in the House of both the comprehensive market structure bill and the anti-CBDC bill, which are now being sent to the Senate.

At the same time, Trump led a (SEC) Securities and Exchange Commission with a clear tendency to support cryptocurrencies. This agency has approved many cryptocurrency (ETFs) and clarified that certain liquidity staking activities are outside its jurisdiction, meaning they should not be considered securities.

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