PYTH skyrockets 60% as US government taps Pyth Network to verify economic data on-chain

CoinJournal
CoinJournal
LINK-2.62%
ETH-1.42%
AVAX+0.09%
XLM-1.06%
TRX-2.08%
ARB-1.68%
BTC+0.87%
OP-0.52%
SOL-0.69%
  • The US Department of Commerce has published GDB on blockchain for the first time.
  • It has selected Pyth Network as the oracle platform to verify and distribute economic data.
  • PYTH saw a sharp price increase after the news.

The United States continues to establish itself as the international hub for blockchain and cryptocurrency undertakings.

In a groundbreaking move, the US Department of Commerce confirmed today that it will start publishing GDP (gross domestic product) data on blockchain, starting with last month’s figures.

The announcement catalyzed bullish sentiments across the cryptocurrency space, especially for the project that the government picked.

The US Department of Commerce has worked with nine blockchains and leading exchanges.

To ensure data accessibility and reliability, it chose Chainlink and Pyth Network.

Pyth Network is working with @CommerceGov to power the distribution of gross...

Visit source
2.83K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.