U.S. Department of Commerce selects Pyth Network as strategic partner for on-chain data verification, PYTH price soars 60%.

Pyth Network's price surged 60% to $0.20 after the US Department of Commerce selected it as a strategic partner for on-chain economic data verification. The platform will work with Chainlink to verify and distribute economic data published on-chain. Pyth Network's market cap has surpassed $1 billion, with its daily volume increasing by 2,700%.

Pyth Network's native token, PYTH, surged by 60% to $0.20 on July 2, 2025, after the U.S. Department of Commerce selected the platform as a strategic partner for on-chain economic data verification. The selection, announced alongside Chainlink, is a significant step in the government's efforts to modernize its data infrastructure and bring official economic data onto blockchain networks [1].

The Commerce Department will publish quarterly Gross Domestic Product (GDP) figures and other economic statistics across nine blockchain networks, including Bitcoin, Ethereum, Solana, Tron, Stellar, and Avalanche. Pyth Network and Chainlink will act as oracle layers to verify and broadcast these figures to decentralized applications and smart contracts across supported chains [2].

The market reaction to this announcement was immediate and substantial. PYTH's price surged 60%, pushing its market capitalization above $1 billion and increasing its 24-hour trading volume by 2,700% [2]. This surge reflects the increased demand for oracle services and token utility, as the integration of government data on-chain opens up new possibilities for blockchain applications.

The selection of Pyth Network highlights the broader U.S. policy moves to accelerate digital asset adoption and increase on-chain infrastructure for official data. This move aligns with the administration's broader push toward digital asset adoption and increased on-chain infrastructure for official data, as seen in recent legislative advances and regulatory approvals [2].

In conclusion, the Commerce Department's decision to partner with Pyth Network for on-chain economic data verification is a milestone for public-sector use of blockchain oracles. The immediate market reaction underscores the perceived value of oracle infrastructure, and ongoing developments will be closely watched to assess the long-term impact on the platform and its token.

References:
[1] https://finance.yahoo.com/news/chainlink-pyth-selected-deliver-u-140449307.html
[2] https://en.coinotag.com/pyth-surge-may-follow-us-department-of-commerce-selection-of-pyth-network-to-publish-economic-data-onchain/