The US Department of Commerce has been talking about economic data on public networks for a while. Chainlink that we share as last minute today 
$24.74 With the announcement, the details became clear and the information was shared that the data was taken alive. Because he took part in the initiative after a few minutes Pyth Network A rapid rise in the price began.
Why is Pyth Coin rising?
According to the announcement of Solana and Pyth official accounts, the Pyth Network will take part in the verification of data over the network. In the Chainlink announcement, 10 networks were mentioned, but Bloomberg BTC, ETH and Solana Next to his network, Pyth Network is mentioned.
With the announcement, the price of PYTH, which is located at $ 0.117, rose to $ 0.19 and increased by more than 50 percent. In the announcement of the Pyth Network official account, he says;
“The US Department of Commerce has chosen Pyth Network to verify and distribute economic data on the network.
This cooperation makes the United States as a world leader in the field of finance and opens new horizons on transparency, access and trust.
Pyth, which enables the publication of official statistics to be reigned and irreversible, opens a new page about how governments will use decentralized technologies. Rate economic data on Onchain will launch a new wave on tokens, economic transparency and data accountability.
Initially, Pyth plans to expand GDP data for the last 5 years every three months and expand this initiative to support a wider economic data set. While governments modernize the data infrastructure, Pyth is ready to provide a safe infrastructure for digital transparency. ”
The Ministry of Commerce issued a list of different networks in the Chainlink announcement;
“US government Bitcoin
$112,467.13Ethereum
$4,496.42, Solana, TronStellar
$0.380764Avalanche
$24.49Arbitrum and Polygon published the last GDP figures. ” – US Department of Commerce
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
