The Trump administration has activated Oracle Blockchain to verify data! PYTH saw a big pump of 100% in a single day, reaching a six-month high.

The U.S. Department of Commerce has officially chosen Pyth Network (PYTH) as the on-chain verification and distribution platform for official economic data, directly publishing key statistics such as quarterly GDP to multiple blockchains. Following the news, the price of PYTH soared over 100% in a single day, with a market capitalization exceeding $1 billion, and the volume skyrocketed by 2,700% within 24 hours, setting a new high since February.

PYTH becomes a government-level data oracle partner

According to the official announcement, the U.S. Department of Commerce will publish quarterly GDP data on nine Blockchains, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tron (TRX), Stellar (XLM), and Avalanche (AVAX).

Among all relevant tokens, PYTH is the only asset that has recorded such an astonishing increase.

At the same time, Chainlink (LINK) is also listed as a major partner, jointly taking on the role of Oracle data distribution and security verification with Pyth Network.

Pyth Network, as a decentralized oracle system, can transmit off-chain financial data such as stocks, foreign exchange, and commodities to on-chain in real time, providing critical infrastructure for decentralized finance (DeFi) applications.

Price Surge Data: Six-Month High + Volume Soars

(Source: Trading View)

According to data from Bitcoin Magazine, PYTH reached a high of $0.24 on August 28, with an intraday increase of over 100%. Although it slightly retraced afterwards, it still rose by about 95%.

Market capitalization: Surpassed 1 billion USD

Volume: Increased by 2,700% in the last 24 hours

Technical analysis: Reached the highest price level since February.

This wave of rising momentum not only reflects the market's optimistic sentiment towards the government's adoption of Blockchain technology but also highlights the strategic position of oracles in the Web3 ecosystem.

Trump Administration's Blockchain Strategy and Policy Background

The Trump administration has recently significantly increased its support for digital assets and blockchain technology:

Data transparency: After the controversy over employment data, Trump fired the head of the U.S. Bureau of Labor Statistics and pushed for official statistical data to be placed on-chain to prevent the data from being "manipulated."

Legislative Progress: Recently passed the "GENIUS Stablecoin Act", the House of Representatives approved the "Comprehensive Market Structure Act" and the "Anti-CBDC Act", and is currently awaiting Senate review.

Regulatory attitude shift: The U.S. Securities and Exchange Commission (SEC), appointed by Trump, has approved multiple cryptocurrency ETFs and clearly stated that certain liquidity staking activities do not fall under the category of securities.

This series of measures shows that the United States is incorporating Blockchain technology into the core infrastructure of the government and releasing favorable policies for the crypto market.

The Dual Oracle Pattern of Pyth and Chainlink

Although multiple public chains will support official data, the roles of Pyth and Chainlink are particularly critical:

PYTH: Focuses on high-frequency financial data, with advantages in real-time capabilities and multi-chain distribution.

Chainlink: Has a mature network in cross-chain data transmission and smart contract triggering.

The synergy between the two will ensure the security, accuracy, and immutability of government data during the on-chain transmission process.

Conclusion

PYTH has experienced explosive growth by becoming a data oracle partner at the level of the U.S. government, which is not only a significant milestone for the project but also symbolizes the accelerating penetration of blockchain technology into core government processes. As the Trump administration continues to promote legislation and applications for digital assets, the oracle sector may witness a new round of capital and technological competition. For more real-time market data and in-depth analysis, please follow the official Gate platform.