The post Chainlink and Pyth Selected to Deliver U.S. Economic Data On-Chain appeared on BitcoinEthereumNews.com.

The native token of the Chainlink network, LINK, surged more than 5% after the network announced a partnership with the U.S. Department of Commerce to bring official government economic data onchain, marking a first-of-its-kind effort to bridge public data infrastructure with blockchain applications. Pyth Network was also selected alongside Chainlink, sending its native token, PYTH, up nearly 50% after the announcement. Key macroeconomic statistics from the Bureau of Economic Analysis — such as Real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers — are now accessible onchain through Chainlink Data Feeds, the company announced in a blog post on Thursday. Six data points in total are being published, including both absolute levels and annualized percentage changes. The data is being made available across ten blockchain networks, including Ethereum ETH$4,498.92, Avalanche AVAX$24.46 and Optimism OP$0.7136. Chainlink says the feeds will update monthly or quarterly, mirroring the release schedules of their traditional counterparts. Meanwhile, Pyth said it will initially offer quarterly GDP data releases going back five years, with expectations to expand the initiative to other economic datasets. Historic move The initiative, a first for the U.S. government, opens up new possibilities for developers building in DeFi and beyond. For example, lending protocols could adjust interest rates based on GDP trends, while prediction markets might incorporate the PCE Index to crowdsource inflation forecasts. “Bringing U.S. government data onchain unlocks innovative use cases for blockchain markets, such as automated trading strategies, increased composability of tokenized assets, the issuance of new types of digital assets, real-time prediction markets for crowdsourced intelligence, transparent dashboards powered by immutable data, and DeFi protocol risk management based on macroeconomic factors,” Chainlink’s blog post said. Bringing economic data sets onto the blockchain also brings efficiency and transparency to…

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Filed under: News - @ August 28, 2025 6:27 pm