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MultiverseX (EGLD) is the top gainer among the top 100 coins by market over the past 24 hours, with its price up 11% after the team announced the Safepal integration.
EGLD price surged to $32.93 on Friday, breaking higher from lows of $27.35 as most altcoins mirrored bitcoin’s drop below $54,000 earlier in the day. The uptick also keeps MultiverseX in the green on the weekly time frame, currently with double-digit gains to contrast the outlook for most altcoins which are in the deep red over the same period.
MultiverseX soars thanks to Safepal integration
MultiversX, formerly known as Elrond, is a blockchain network designed for the metaverse. EGLD is the utility token that powers the network ecosystem, including for staking, transactions, and governance.
On Friday, MultverseX announced that the blockchain platform had integrated Safepal, a mobile and hardware cryptocurrency wallet that currently serves over 13 million users worldwide. The integration means that these users have direct access to MultverseX through their SafePal wallets. In addition to the hardware and mobile wallets, users will also have access to a soon-to-be-released browser extension.
“The new integration offers three layers of value exchange using EGLD, through a cold storage solution that already protects over $20 billion in cryptocurrency. At the same time, the SafePal mobile app creates a new mobile interface for users to interact with the MultiversX ecosystem,” said Daniel Serb, director of business development at Multiverse in a statement. blog entry.
Serb added that EGLD continues to see expanded use cases and that the wallet browser extension will give users the ability to fully benefit from the utility of the token.
While the news seems to have buoyed sentiment, the EGLD token is still down 16% over the past 30 days. It has also struggled since hitting its all-time high in November 2021.
SafePal’s services are currently available in over 200 countries and over 100 blockchains. The platform offers support for crypto assets and nfts, with trading, cross-chain swapping, and yield tools available.
