What to Know:
U.S. Commerce to publish GDP data on-chain via Pyth and Wormhole.
PYTH price jumps 100%+ and Wormhole surges 32% on the news.
Whale buying, low exchange supply fuel bullish momentum.
The U.S. Department of Commerce announced a groundbreaking partnership, and the prices of Pyth Network (PYTH) and Wormhole (W) shot up. Using Pyth as the data provider and Wormhole as the transporter across multiple chains, the government will start posting official economic data, such as GDP, directly on several blockchains.
Pyth Network’s Big Moment
Pyth Network was chosen as an oracle to publish GDP and other official metrics on-chain because it is known for providing accurate price feeds and real-time data. This endorsement from the U.S. government is a huge stamp of credibility.
The market reaction was explosive; large holders of PYTH tokens have been buying more, while fewer tokens remain on exchanges. This lowers the pressure to sell and gives prices a boost. Trading volume shot up by more than 8,600%, and open interest reached all-time highs. Analysts even spotted bullish chart signals like “golden crosses,” which often suggest a continuation of upward trends. On many trading dashboards, it was named “Coin of the Day.” Investors are now eyeing whether PYTH can sustain above the key $0.20 mark as the first on-chain GDP release, scheduled for October 30, comes closer.
Wormhole’s Role in the Spotlight
While Pyth provided the data, Wormhole ensured it could be transported securely across more than 30 different blockchains. That interoperability role placed Wormhole at the center of this government-backed blockchain experiment.
The announcement pushed Wormhole’s token higher as well; Wormhole surged over 32% in a single day, with its derivatives markets heating up as open interest rose dramatically. Wormhole launched new tokenization features and its Native Token Transfers framework on the Sui Network on the same day. This shows that the company is not only taking advantage of the government deal but also growing its own ecosystem. Many investors think that Wormhole is a strong player to watch in the multichain interoperability space because it has real-world use and technical improvements.
Why This Matters
The collaboration between the U.S. government, Pyth, and Wormhole is more than just another crypto rally. It shows how blockchain infrastructure can be used in the real world at the national level.
When GDP data is published directly on-chain, institutions, developers, and investors can see the official numbers in real time without having to go through middlemen. This level of openness could change how markets respond to economic data over time. For the crypto industry, this is proof that blockchain tools are moving from being experimental projects to reliable infrastructure that even governments trust.
Market Snapshot
Pyth Network surged by an impressive 93–118% in just 24 hours, fueled by its selection as an official oracle partner for the Department of Commerce. The partnership led to a lot of whales buying the token, while exchange balances fell. This showed that selling pressure was low and people were becoming more confident in the token’s long-term value.
Wormhole also had a great day, going up more than 32%. It was in the spotlight because it was the interoperability layer that let official government data be sent across more than 30 blockchains. Wormhole also announced new upgrades to its ecosystem, such as its growth on the Sui Network and a big increase in trading activity, which made investors feel even better. The two tokens were the biggest winners in the market, with Pyth leading the way.
Looking Ahead
The key test for this partnership will come during the next GDP release on October 30, when the U.S. Commerce Department pushes real data live via Pyth and Wormhole. If usage remains high beyond the initial hype, it could set a precedent for how governments worldwide handle data transparency.
For now, traders should be cautious. Technical indicators suggest that Pyth may be overbought, which means that short-term corrections could happen. But the big picture is still clear: the fact that the government has officially adopted both Pyth Network and Wormhole has given them both a boost in credibility that few other blockchain projects can claim.
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