While most of the crypto market is drowning in red, Pyth Network (PYTH) has shocked investors by soaring nearly 100% in just 24 hours. The token hit its six-month high, breaking out of its long downtrend, even though it still trades far below its all-time high (ATH).
So why is PYTH surging while Bitcoin, Ethereum, and other giants are struggling? Let’s break it down.
Pyth Network Defies Market Crash With 100% Rally
As of today, PYTH is trading around $0.2277 after briefly hitting $0.23 earlier in the day. That’s nearly double its price within a single day.
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Market cap: $1.3 billion
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Trading volume: $2.73 billion (a jaw-dropping 9267% surge)
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Trend: Broke its months-long downtrend, fueling bullish momentum
Even though the token is still about 80% below its March ATH, the rally stands out because it goes against the broader market crash.
Why is Pyth Network Pumping?
1. U.S. Commerce Department Brings GDP Data On-Chain
In a historic move, the U.S. Commerce Department announced that it will publish official economic data like GDP and PCE directly on blockchains. Starting with July 2025 data, platforms like Pyth Network and Chainlink will distribute these statistics.
This move has been linked to President Donald Trump’s push for crypto adoption, with Commerce Secretary Howard Lutnick calling it “only fitting” to make U.S. economic data available on blockchain networks.
For Pyth, this is a massive credibility boost — being chosen as one of the few platforms to deliver official government data gives it real-world utility.
2. Trump’s Pro-Crypto Agenda
The Trump administration has been vocal about positioning the U.S. as a global leader in crypto. By backing blockchain-based data delivery, Trump is signaling strong federal support. Pyth Network is one of the unexpected beneficiaries.
3. Technical Breakout
On the charts, PYTH has broken a long-term downtrend, sparking excitement among traders. Many analysts now see the token heading toward $0.30 or higher if momentum continues.
Why This Rally Matters
Most altcoins rise and fall with Bitcoin. PYTH, however, is proving that real-world adoption and unique use cases can drive independent price action. While the market panics ahead of the upcoming FOMC meeting, Pyth is emerging as the biggest winner of the day.
Final Thoughts
The Pyth Network rally shows how quickly narratives can shift in crypto. A project that was considered “under the radar” suddenly became the day’s top performer thanks to real utility (GDP data distribution), political support, and a strong technical breakout.
Whether it can sustain this growth is another question, but for now, PYTH is the star of a struggling market.
FAQs
1. Why did Pyth Network price jump 100% today?
Because the U.S. Commerce Department announced that it will release GDP and other key economic data via the Pyth Network and Chainlink, boosting investor confidence.
2. What is the current price of PYTH?
At press time, Pyth Network is trading around $0.2277, after hitting a six-month high of $0.23 earlier today.
3. How much has Pyth’s trading volume increased?
The trading volume surged over 9,200%, reaching $2.73 billion within 24 hours, showing massive investor interest.
4. Is Pyth still below its all-time high?
Yes, despite today’s rally, PYTH is still about 80% below its ATH from March 2025.
5. Can PYTH go higher from here?
Analysts suggest the breakout could push the price toward $0.30 or higher, but its future performance will depend on overall market conditions and adoption.