MultiversX (EGLD) Soars 11% Amid Safepal Integration

MultiversX (EGLD) is the top gaining cryptocurrency among top 100 coins by market cap in the past 24 hours, with price up 11% after the team announced integration with Safepal.

MultiverseX (EGLD) is the top gaining cryptocurrency among top 100 coins by market in the past 24 hours, notching up gains of 11% following the team’s announcement of a Safepal integration.

EGLD price rose to $32.93 on Friday, up from lows of $27.35 as most altcoins followed Bitcoin’s crash to below $54,000 earlier in the day. The gains also kept MultiverseX in the green on the weekly time frame, with double-digit gains to contrast the picture for most altcoins that were deep in the red over the same period.

MultiverseX soars amid Safepal integration

MultiversX, formerly known as Elrond, is a blockchain network designed for the metaverse. EGLD is the utility token that powers the network’s ecosystem, including for staking, transactions and governance.

On Friday, MultverseX announced that the blockchain platform had integrated Safepal, a mobile and hardware crypto wallet that currently serves over 13 million users globally. The integration gives these users direct access to MultiversX through their SafePal wallets. In addition to the hardware and mobile wallets, users will also have access to a browser extension that is set to launch soon.

“The new integration offers three layers of exchanging value using EGLD, through a cold storage solution that already secures over $20 billion in crypto,” Daniel Serb, head of business development at Multiverse, said in a blog post.

“At the same time, the SafePal mobile app creates a new on-the-go interface for users to interact with the MultiversX ecosystem.”

Serb also noted that EGLD continues to see expanding use cases and the wallet browser extension will give users the capacity to fully benefit from the token’s utility.

While the news appears to have lifted sentiment, the EGLD token is still down 16% over the past 30 days. It has also struggled since reaching its all-time high in November 2021.

SafePal’s services are currently available in over 200 countries and on over 100 blockchains. The platform supports crypto assets and NFTs, with trading, cross-chain swapping and yield tools also accessible.