PYTH Soars 20% After US Commerce Department Selects Blockchain-Based Data Validation

The PYTH Network experienced a notable surge of over 20%, driven by the U.S. Department of Commerce’s selection to utilize its blockchain technology for on-chain economic data validation and distribution. This marks a significant development in applying blockchain for official data validation within governmental processes, potentially impacting other financial and regulatory sectors. The selection signals a shift towards more efficient methods for handling crucial economic data through blockchain technologies.