Pyth Network price (PYTH) stunned the market on Thursday with a sudden breakout, sending the token up more than 50% in 24 hours and briefly topping $0.20 before cooling to near $0.17.
Trading volumes surged to $813.8 million in just 24 hours, increasing by over 3,200% overnight. This pushed PYTH onto CoinMarketCap’s list of top gainers.
The recent surge followed the U.S. Department of Commerce’s announcement that it will use the Pyth Network to publish official economic data, such as GDP, directly on the blockchain.
Pyth’s reputation for real-time price feeds to over 100 blockchains received a significant boost from government endorsement, prompting a quick market reaction.
Institutional Validation Meets Retail Hype
Social sentiment turned euphoric within minutes of the announcement. The Bloomberg headline “US Puts GDP Data on the Blockchain in Trump Crypto Push” went viral.
At the same time, several analysts and blockchain projects reposted confirmation that the U.S. is indeed working with Pyth to deliver on-chain data infrastructure.
Just as Chainlink reshaped decentralized oracles, Pyth is carving out a niche by onboarding official government data.
Meanwhile, as reported by BanklessTimes, Chainlink (LINK) has also partnered with the U.S. Department of Commerce to deliver official macroeconomic data on-chain for the first time.
The Bureau of Economic Analysis (BEA) will provide real-time feeds, including GDP, PCE Price Index, and private sales data, directly to Chainlink’s oracle network, marking a historic step in bringing government economic indicators to public blockchains.
Marc from Pyth Labs amplified the hype: “Headlines are great, but you know what’s even better? The product is live. You can already use 23 U.S. GDP data points on 100+ chains — all powered by Pyth.”
By anchoring government-grade data into Pyth’s feeds, institutional investors suddenly have a trusted bridge between Wall Street and DeFi. That’s why volumes surged alongside price; institutional credibility collided with retail momentum.
Pyth Network Price Prediction: Can PYTH Break Resistance?
The technical setup for PYTH has flipped decisively bullish. According to TradingView’s summary, oscillators remain mostly neutral, but momentum indicators such as the MACD and RSI are leaning toward fresh buy signals.
Moving averages are even clearer, as 8 out of 11 major averages flash “Buy”, with the 10-day EMA at $0.1342 and the 20-day SMA at $0.1418 now acting as strong support zones.
PYTH price above key SMAs | Santiment
The chart shows that immediate support is around $0.16. Traders have been protecting this level after the price dipped from $0.20 today. Resistance is between $0.21 and $0.23, which aligns with Fibonacci extensions and previous supply areas.
If buyers can crush this resistance, experts believe there could be potential for the price to rise toward $0.30, especially if more institutional money enters the market.
Still, bears point to the token’s long-term performance: PYTH is down 50% year-to-date and over 37% in the past year, suggesting the latest rally must prove sustainable. A failure to hold $0.16 could drag the price back toward $0.13, erasing much of the hype-driven surge.
