Why is Pyth Network Price Skyrocketing Despite Crypto Market Crash?
The post Why is Pyth Network Price Skyrocketing Despite Crypto Market Crash? appeared on BitcoinEthereumNews.com. Pyth Network, a relatively less popular crypto in the market, has experienced a surprise price rally, gaining nearly a 100% gain in just 24 hours. Interestingly, the token has been known before, but today it is among the biggest gainers. Notably, the milestone is even more important since the top cryptocurrencies, such as Bitcoin, Ethereum, and others, are struggling. Pyth Network Price Skyrockets Nearly 100% Today Defying the broader crypto market crash, the Pyth Network token’s price is skyrocketing today. In a serious bullish uptrend, PYTH has surged nearly 100% today, achieving a 6-month high earlier in the day at $0.23. Notably, the price has moved slightly down since then, and it’s 80% down from its March ATH, but the milestone remains intact. At press time, it trades at $0.2277 with $1.3B in market capitalization today. Its trading volume is at $2.73B after a staggering 9267% surge, indicating high investor demand. Pyth Network Price Rallies as Trump Admin Ushers GDP Data to Blockchain For the first time in history, the U.S. Commerce Department has issued GDP data on blockchain. Notably, this step is part of the U.S. President Donald Trump administration’s crypto push, where the federal agencies will release official economic statistics (six data statistics) like GDP, PCE data, and more on blockchains like Bitcoin, Ethereum, and Pyth Network. “It’s only fitting that the Commerce Department and President Donald Trump, the Crypto-President, publicly release economic statistical data on the blockchain,” said Howard Lutnick (U.S. Secretary of Commerce) in press release. On August 28, the U.S. Department of Commerce announced that it will publish the quarterly GDP data via the Pyth Network and Chainlink starting with the July 2025 data. In this, Chainlink & Pyth Network also have a key role in distributing economic data and more, hence the price surge.…
The post Why is Pyth Network Price Skyrocketing Despite Crypto Market Crash? appeared on BitcoinEthereumNews.com.
Pyth Network, a relatively less popular crypto in the market, has experienced a surprise price rally, gaining nearly a 100% gain in just 24 hours. Interestingly, the token has been known before, but today it is among the biggest gainers. Notably, the milestone is even more important since the top cryptocurrencies, such as Bitcoin, Ethereum, and others, are struggling. Pyth Network Price Skyrockets Nearly 100% Today Defying the broader crypto market crash, the Pyth Network token’s price is skyrocketing today. In a serious bullish uptrend, PYTH has surged nearly 100% today, achieving a 6-month high earlier in the day at $0.23. Notably, the price has moved slightly down since then, and it’s 80% down from its March ATH, but the milestone remains intact. At press time, it trades at $0.2277 with $1.3B in market capitalization today. Its trading volume is at $2.73B after a staggering 9267% surge, indicating high investor demand. Pyth Network Price Rallies as Trump Admin Ushers GDP Data to Blockchain For the first time in history, the U.S. Commerce Department has issued GDP data on blockchain. Notably, this step is part of the U.S. President Donald Trump administration’s crypto push, where the federal agencies will release official economic statistics (six data statistics) like GDP, PCE data, and more on blockchains like Bitcoin, Ethereum, and Pyth Network. “It’s only fitting that the Commerce Department and President Donald Trump, the Crypto-President, publicly release economic statistical data on the blockchain,” said Howard Lutnick (U.S. Secretary of Commerce) in press release. On August 28, the U.S. Department of Commerce announced that it will publish the quarterly GDP data via the Pyth Network and Chainlink starting with the July 2025 data. In this, Chainlink & Pyth Network also have a key role in distributing economic data and more, hence the price surge.…
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