MultiversX (EGLD) leads crypto gainers amid key wallet integration

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

EGLD price rose to $32.93 on Friday, breaking higher from lows of $27.35 as most altcoins mirrored Bitcoin’s crash to under $54,000 earlier in the day. The upside also keeps MultiverseX in the green on the weekly time frame, currently with double-digit gains to contrast the picture for most altcoins that are deep red over the same period.

MultiverseX soars amid Safepal integration

MultiversX , formerly called 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 means these users have direct access to MultiversX via their SafePal wallets. Apart from the hardware and mobile wallets, users will also have access to a soon-to-launch 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 MultiversX ecosystem,” Daniel Serb, head of business development at Multiverse said in a blog post.

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

While the news seems to have buoyed sentiment, the EGLD token however remains 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 accessible across more than 200 countries and over 100 blockchains. The platform offers support for crypto assets and NFTs, with trading, cross-chain swapping and yield tools available.