PYTH Hits $1B Market Cap on Trump Admin Move — What Traders Should Watch Next
The Pyth Network token (PYTH) soared this week after the U.S. Department of Commerce confirmed it had selected the project to verify and distribute official economic data onchain — a historic milestone that places blockchain technology at the heart of government processes.
The announcement, which also named Chainlink as a key partner, triggered an explosive market reaction as PYTH rallied more than 90% intraday, peaking just above $0.24 before consolidating slightly lower.
The surge lifted PYTH’s market capitalization beyond $1 billion, with trading volumes skyrocketing by more than 2,700% in just 24 hours. This rally marked the token’s highest levels since February and set the stage for a new wave of speculative and fundamental interest in blockchain oracle networks.
Trump Administration’s Blockchain Pivot
The government’s move is part of a broader pro-crypto agenda spearheaded by President Donald Trump. With trust in official economic statistics under scrutiny, the administration is using blockchain infrastructure to bring greater transparency and resilience to federal data. Quarterly GDP figures will now be published on nine blockchains, including Bitcoin, Ethereum, Solana, Tron, Stellar, and Avalanche.
The announcement also followed Trump’s dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer after revising employment numbers sparked accusations of “rigged” data. Alongside the GENIUS Stablecoin Act and multiple pro-market bills advancing in Congress, the embrace of blockchain for official reporting signals Washington’s accelerating alignment with digital assets.
Technical Outlook for PYTH
From a market structure perspective, PYTH’s breakout has shifted the technical landscape decisively in favor of the bulls. The 9-day EMA has crossed above the 20-day EMA, confirming a short-term bullish trend.
Daily chart for PYTH/USD (Source: GeckoTerminal)
Meanwhile, the MACD has swung from a muted negative reading to strongly positive, showing accelerating momentum. The RSI briefly touched overbought territory near 80 before pulling back slightly — a reflection of intense buying pressure, though it also suggests the potential for consolidation.
Resistance lies ahead at $0.2334, $0.2460, and $0.2951, with the $0.2449 and $0.2500 ask walls posing immediate hurdles.
Clearing those levels could open the door for a further 12–34% advance toward higher resistance zones.
On the downside, support rests at $0.2060, backed by a substantial bid wall at $0.2200. A breakdown through $0.2000 could erase around 10% of value, while a deeper move toward $0.1700 would imply a 24% decline if selling intensifies.
Trading Strategy Considerations
For long traders, momentum remains supportive as long as the PYTH price sustains above $0.2060. A decisive breakout above $0.2334 could signal continuation toward $0.2460 and $0.2951, especially if liquidity around $0.2500 is absorbed.
Short traders, however, may see opportunity if the price stalls against resistance and the overheated RSI sparks a retracement. Failed attempts to break $0.2460 could open entries targeting $0.2060 or even $0.1774 if sentiment cools.
Bigger Picture
PYTH’s rally is not just a speculative surge — it’s a reflection of blockchain’s deeper integration into official economic infrastructure.
The token’s vertical price action shows how quickly market narratives can shift when institutional recognition and government adoption come into play. Whether this momentum sustains will depend on both order book dynamics and how the broader market digests Washington’s blockchain experiment.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
