PYTH Soars After Government Taps Blockchain Oracles for Economic Data

The PYTH token experienced a dramatic surge on Thursday, reaching new highs and exceeding $0.20. This jump was fueled by the US Department of Commerce’s announcement to utilize Pyth Network’s blockchain oracles for distributing economic data. The move marks a significant shift towards incorporating blockchain technology into government processes, highlighting the critical role of data oracles like Pyth and Chainlink in official data dissemination.