MultiverseX, previously known as Elrond, has emerged as a leading cryptocurrency within the top 100 coins by market capitalization over the last 24 hours. The price of EGLD surged by 11% following the announcement of its integration with Safepal.

On Friday, the price of EGLD climbed to $32.93, showing a significant increase from its previous low of $27.35. This upward movement came amidst a broader market downturn, with Bitcoin plummeting below $54,000 earlier in the day. Despite the overall market decline, MultiverseX has maintained a positive trajectory for the week, recording double-digit gains unlike many other altcoins struggling in the bearish trend.

MultiverseX's Partnership with Safepal

MultiverseX, a blockchain network tailored for the metaverse, operates using EGLD as its utility token for staking, transactions, and governance activities. The recent announcement highlighted the integration of MultiverseX with Safepal, a widely-used mobile and hardware crypto wallet serving a user base of over 13 million individuals globally. With this integration, Safepal users can directly engage with the MultiverseX ecosystem through their wallets, including the upcoming browser extension.

The integration provides users with multiple avenues for EGLD transactions, leveraging a secure cold storage solution protecting over $20 billion in crypto assets. Additionally, the mobile app by SafePal introduces a convenient interface for users to interact with MultiverseX's ecosystem on-the-go. Daniel Serb, the head of business development at MultiverseX, emphasized the expanding utility of EGLD through various use cases, with the upcoming wallet browser extension enhancing user experience and access to token functionalities.

Although the news surrounding the Safepal integration has positively influenced market sentiment, EGLD has experienced a 16% decline over the last 30 days and has faced challenges since reaching its peak in November 2021.

SafePal's Global Presence and Services

Operating in over 200 countries and supporting more than 100 blockchains, SafePal offers a range of services catering to crypto assets and NFTs. Users can benefit from trading, cross-chain swapping, and yield tools on the platform, ensuring a comprehensive suite of features for managing digital assets.