Python Network joins hands with the US Department of Commerce to reshape the financial data distribution paradigm. and PYTH soars by more than 70% in the day | PYTH latest news

For the first time, the US Department of Commerce has put core economic data such as GDP into a decentralized network, and selected Python Network and Chainlink as official oracles, marking that blockchain has entered the national-level financial infrastructure. Python started in Solana in 2021 and now supports more than 40 chains, which traces back to five years of GDP. The news caused PYTH to rise by more than 70% during the day, with a market value of over 1 billion and a surge in transaction volume, which is also in line with the Trump administration's vision of building the US blockchain capital. The US Department of Commerce made a historic decision to place core economic data such as GDP on a decentralized network for the first time, and selected Python Network and Chainlink as official data oracles, marking blockchain technology as a national-level financial infrastructure and becoming a milestone in the integration of traditional finance and DeFi. Python Network is a decentralized oracle that started in Solana in 2021 and now supports more than 40 blockchains. It obtains data from more than 90 first-hand financial institutions, generates reference prices through the dedicated blockchain Pythonnet, and efficiently transmits data in the "pull" mode. In this cooperation, Python will trace the US GDP data over the past five years and plan to expand to more data sets. Chainlink will launch 6 macroeconomic data, which will cover multiple public chains such as Bitcoin main network and Ethereum, and provide assistance from exchanges such as Coinbase. The news stimulated a violent reaction in the market. The PYTH token's peak intraday rose by more than 70%, closing up about 62% on the same day, with a market value exceeding US$1 billion, and a 24-hour trading volume surged by more than 2,700% (to $874.99 million); related tokens such as Chainlink and Solana also rose to varying degrees. This cooperation stems from the Trump administration's vision of "building the United States as the world's blockchain capital" and is part of its promotion of digital asset innovation. It has previously led to a number of relevant bills. This move will enrich DeFi on-chain products and improve financial contract efficiency, but Python also faces risks such as saturation in the data market, data errors that have appeared, and technical limitations associated with Solana. In the future, Python plans to expand data types and improve economic models, which is expected to attract more traditional institutions to cooperate. [Note⚠️, cryptocurrencies are high-risk investments, and you may lose all your principal. If you don’t understand, it is recommended not to participate. This video does not have any investment advice, it is shared only as information】 #PythNetwork #PYTH #PYTH Latest News