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US Government Taps Chainlink and Pyth to Publish Economic Data Onchain US Government Taps Chainlink and Pyth to Publish Economic Data Onchain

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US Government Taps Chainlink and Pyth to Publish Economic Data Onchain – Crypto News

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PYTH and LINK are soaring after the U.S. published its GDP figures on leading blockchains.

The United States continues to embrace decentralized finance (DeFi), with the government today publishing economic data on eight different blockchains via Pyth and Chainlink oracles.

The move has sent PYTH soaring, and the token is up 52% today to a $1 billion market capitalization. LINK is up 2.8% in the same period to a $17 billion market capitalization.

PYTH Chart – CoinGecko

The initiative began today as the U.S. published its GDP figures on Bitcoin, Ethereum, Solana, Tron, Stellar, Avalanche, Arbitrum, and Polygon.

Notably missing is Base, the Ethereum Layer 2 backed by Coinbase, which has worked closely with the government in its crypto adoption efforts. Stellar Network, on the other hand, is the smallest blockchain included, with just $144 million of DeFi total value locked (TVL). Polygon is the next largest with $1.2 billion.

Solana GDP Transaction Hash
Solana GDP Transaction Hash

The news also comes soon after Chainlink unveiled its reserve buyback program, in which the oracle provider uses its off-chain contract revenue to purchase LINK tokens.

Chainlink disclosed today that its total reserve holdings are up to 193,076 LINK, or $4.8 million. The token has rallied by 40% over the last month but remains flat for the week.

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