Economy-defining alliance: Chainlink secures deal to broadcast U.S. financial data on blockchain!
In a groundbreaking move, Chainlink [LINK] has entered into a partnership with the U.S. Department of Commerce. This collaboration is set to reshape how developers, analysts, and financial protocols access and use core government data. According to a blog post from Chain.link, the planned rollout for this partnership is expected around September 2025.
The partnership will bring official economic data like GDP and inflation on-chain for the first time. This integration could open the door to more transparent and programmable economic applications. The data will be streamed directly onto public blockchains, starting with ten networks including Ethereum [ETH], Avalanche [AVAX], and Base [BASE].
At the heart of this partnership are key economic indicators such as GDP growth, inflation via the PCE Price Index, and real final sales, all provided by the Bureau of Economic Analysis. The feeds will deliver both raw figures and annualized growth rates, updated monthly or quarterly.
However, despite these catalysts, Chainlink's price shows signs of cooling. At press time, LINK is trading at $23.48, down 6.7% on the day. Open Interest for Chainlink has slipped to around $674 million, indicating lighter trading activity. Sentiment in the derivatives market has cooled as well, with Funding Rates for Chainlink showing a more cautious stance among traders compared to earlier in the week.
The short-term outlook for Chainlink points to consolidation rather than an immediate breakout. The Relative Strength Index (RSI) for Chainlink is sitting near 52, indicating neutral market conditions. OBV showed steady inflows earlier in the month but flattened out as selling pressure caught up.
In other news, the first-ever Chainlink ETF has been filed in the U.S. by Bitwise. Despite the filing of the ETF, Chainlink's price has pulled back, suggesting that market sentiment may be influenced by factors other than just the ETF.
This partnership between Chainlink and the US Department of Commerce could revolutionise the way economic data is accessed and used, paving the way for a more transparent and programmable economic future. Stay tuned for more updates as this story unfolds.
Source: blog.chain.link, TradingView.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
- Abdominal Fat Accumulation: Causes and Strategies for Reduction
