US Department of Commerce Releases Latest GDP Data for Major Cryptocurrencies
The U.S. Department of Commerce will publish quarterly GDP data on blockchains like Bitcoin, Ethereum, and Solana, beginning in 2025, aiming to boost data transparency and innovation in DeFi and RWAs.
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Summary
In 2025, the U.S. Department of Commerce will begin releasing GDP data for major cryptocurrencies, including Bitcoin, Ethereum, and Solana, on public blockchains. The initiative, supported by Chainlink and Pyth Network, aims to enhance transparency and foster DeFi and RWA development. Following the announcement, PYTH token surged by over 100%.
Terms & Concepts
- DeFi: Decentralized Finance, a financial system that operates on blockchain technology without the need for central authorities like banks.
- RWA: Real-World Assets, tangible or intangible assets that are tokenized and represented on a blockchain, enabling easier access and liquidity.