U.S Government Employs Blockchain Technology: Exploring the Price Surge of PYTH and the Stagnation of LINK

In a significant development, the US Department of Commerce has announced its intention to expand its partnership with Chainlink, the popular decentralized oracle network, and also include Pyth Network in distributing economic data on-chain. This move follows the steady work Chainlink has done with the government in 2025.

The announcement saw a 91% surge in PYTH's price over the last 24 hours, according to market data at press time. However, the 1-day chart for Chainlink shows a fall out of a short-term rising channel, following a drop below $23.6 on Monday, 25 August, indicating a bearish structure for the cryptocurrency.

Meanwhile, the 1-day price chart for PYTH shows a significant surge past key resistances, indicating a bullish structure on both the 1-day and 1-week charts. This bullish trend is further supported by a 472% increase in Open Interest for PYTH over the last 24 hours, as reported by Coinalyze data.

However, the disparity between PYTH and LINK's performance could be explained by Bitcoin's price action that negatively affected LINK in recent hours, as well as the relatively smaller size of PYTH. At press time, LINK fell by 1.36% in 24 hours.

The expansion of the program will see six initial data points, including Real GDP Level and Percentage Change, PCE Price Index, and Real Final Sales to Private Domestic Purchasers, being made available. No new facts about the data updates, their frequency, or their initial data points were mentioned in this paragraph.

It's worth noting that Chainlink has had several meetings with the SEC and has engaged with the U.S Crypto Task Force regarding compliance networks and their importance. The U.S Department of Commerce is working with Chainlink to bring macroeconomic data onto the blockchain. No new facts about the data updates, their frequency, or their initial data points were mentioned in this paragraph.

The data will be updated monthly or quarterly, as applicable. The Open Interest for PYTH and Chainlink were moving in opposite directions over the last 24 hours, likely reflecting differing market interest or speculative activity specific to each platform. Specific causes for these fluctuations are not provided in the available search results.

President Trump's administration intends to expand the program further beyond its initially limited scope, according to Commerce Department officials. The announcement will follow the steady work Chainlink has done with the government in 2025.

The possibility of the PYTH market being temporarily overbought exists, especially as Bitcoin's strength wanes. Nevertheless, the expansion of the partnership and the data distribution deal could provide a buying opportunity for PYTH traders and holders.

In conclusion, the expanded partnership between the US Department of Commerce and Chainlink, along with the inclusion of Pyth Network, is a significant step forward for the adoption of blockchain technology in the government sector. The market response, as shown by the surge in PYTH's price, underscores the potential of this development.

U.S Government Employs Blockchain Technology: Exploring the Price Surge of PYTH and the Stagnation of LINK