TL;DR
- PYTH experiences a significant 91% jump in value after being chosen by US authorities for spreading data via blockchain technology.
- A positive MACD pattern suggests a possible increase in price as the asset surpasses resistance levels after a key announcement.
- While the price surges, knowledgeable investors sell off $166,000 worth of PYTH, suggesting they are securing profits after the rapid price increase.
Pyth Network to Play Key Role in Sharing US Economic Insights
The United States Commerce Department revealed on August 28 its plans to share official economic information using blockchain platforms. The Pyth Network has been chosen to aid in validating and circulating this information. Chainlink will also participate in this data distribution effort.