📢 The U.S. Department of Commerce 🇺🇸 announced a historic step:
Chainlink (LINK) and Pyth have been selected to provide the official economic data of the ministry on blockchain networks.
✨ News Details:
🔹 Economic data such as: growth rates, trade, inflation, consumption, and others, will be securely and transparently uploaded directly to the blockchain.
🔹 The goal is to make this data available for use within smart contracts, opening the door to massive financial and commercial applications.
🔹 This announcement led to a rise in the prices of both:
🔥 LINK significantly.
🔥 The Pyth token also saw a strong surge.
⚡ Importance of the step:
✅ Enhancing the trust of institutions and governments in blockchain technology.
✅ Paving the way for broader official adoption of Web3 in the global economy.
✅ Opening new avenues in decentralized finance (DeFi) and developing investment tools based on real and official economic data.
📈 Market Impact:
🔸 Chainlink (LINK) is poised for more upward momentum in the coming period if institutional adoption continues.
🔸 Pyth proves itself as one of the strongest data providers on the blockchain, elevating its status among oracle projects.
🔸 This collaboration represents a significant step in integrating traditional economics with the crypto world.
💡 Summary:
Banks, financial institutions, and even large companies may soon start using data from the U.S. Department of Commerce directly from the blockchain via Chainlink and Pyth.
Simply put, the global economy is officially entering the blockchain era! 🚀