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MultiversX's EGLD Token Surges After Collaborating With Google Cloud

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Oct 25, 2023 at 09:11 am

In a significant turn of events, the native cryptocurrency EGLD, intricately linked with the MultiversX blockchain platform, experienced a substantial surge of nearly 10%. The driving force behind this remarkable surge in value was the unveiling of a strategic partnership between MultiversX and Google Cloud, the cloud division operating under the vast umbrella of Alphabet, a heavyweight in the tech industry.

During the early hours of a European morning, the price of EGLD underwent a substantial upswing, ascending from just below the $24 threshold to slightly above $26. Nonetheless, there was a slight retracement, eventually stabilizing at $24.59. This retraction notwithstanding, EGLD managed to secure a noteworthy gain in value, amounting to 3.23%, all within the span of a mere 24 hours.

The official announcement of this pivotal partnership took center stage during the xDay Conference, an event hosted in Bucharest, Romania. Within the framework of this collaboration, MultiversX is poised to harness the state-of-the-art capabilities offered by Google Cloud, with a specific emphasis on capitalizing on its artificial intelligence (AI) and data analytics tools.

At the heart of this strategic union lies the fundamental objective of streamlining and accelerating the development of expansive blockchain ventures within the MultiversX ecosystem. By granting developers uncomplicated access to an extensive array of data, encompassing comprehensive information regarding wallet addresses, transaction volumes, and interactions with smart contracts, the integration of this technological arsenal is poised to yield a substantial enhancement in both the efficiency and overall effectiveness of the MultiversX blockchain network.

Read more: Uniswap's Android Beta: Bridging Chains

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