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MultiverseX (EGLD) has emerged as the top gaining cryptocurrency among the top 100 coins by market cap in the past 24 hours, with its price increasing by 11%. This surge follows the team’s recent announcement of integration with SafePal.
The EGLD price climbed to $32.93 on Friday, a significant rise from its previous lows of $27.35. This upward movement contrasts with the broader market trend, where many altcoins mirrored Bitcoin’s dip below $54,000 earlier in the day. On a weekly basis, MultiverseX continues to show double-digit gains, standing out in a market where most altcoins are experiencing declines.
MultiverseX Soars Amid SafePal Integration
MultiverseX, formerly known as Elrond, is a blockchain network tailored for the metaverse. EGLD is the utility token that powers this network’s ecosystem, facilitating staking, transactions, and governance.
On Friday, MultiverseX announced its integration with SafePal, a mobile and hardware crypto wallet serving over 13 million users globally. This integration provides these users with direct access to MultiverseX via their SafePal wallets. In addition to the existing hardware and mobile wallets, users will soon have access to a browser extension.
“The new integration offers three layers of exchanging value using EGLD, via a cold storage solution that already secures over $20 billion worth of crypto. At the same time, the SafePal mobile app creates a new on-the-go interface for users to interact with the MultiverseX ecosystem,” said Daniel Serb, head of business development at MultiverseX.
Serb also highlighted that EGLD continues to see expanded use cases, with the wallet browser extension enabling users to fully leverage the token’s utility.
Despite the positive news, the EGLD token remains down 16% over the past 30 days. The token has also faced challenges since reaching its all-time high in November 2021.
SafePal’s services are currently accessible in more than 200 countries and across over 100 blockchains. The platform supports crypto assets and NFTs, offering trading, cross-chain swapping, and yield tools.
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