MultiversX’s native token, EGLD, experienced a nearly 10% spike after the blockchain network announced a partnership with Google Cloud, a division of tech giant Alphabet (GOOG).
EGLD saw its price increase from under $24 to just over $26 during European morning hours on Friday. It later retraced slightly and was trading at $24.59, reflecting a 24-hour gain of 3.23%.
Partnership Announcement
The partnership was unveiled during MultiversX’s xDay Conference in Bucharest, Romania. MultiversX will collaborate with Google Cloud to leverage its artificial intelligence (AI) and data analytics tools.
This collaboration will provide MultiversX with the capability to streamline large-scale blockchain projects. Developers will have easier access to essential data, including information about addresses, transacted amounts, smart contract interactions, and more.
The partnership with Google Cloud is expected to enhance MultiversX’s capabilities and offerings in the metaverse-focused blockchain space, marking an exciting development for the EGLD token.
Market Response
The positive response in EGLD’s price following the partnership announcement indicates that the market views this collaboration favorably. Investors and cryptocurrency enthusiasts are often keen on partnerships that can strengthen a project’s technology and market presence.
The increase in EGLD’s value suggests a growing interest in the MultiversX project and its potential to disrupt the metaverse and blockchain spaces.
Ongoing Developments
The collaboration with Google Cloud will likely lead to further developments within the MultiversX ecosystem. Developers and stakeholders will be eager to see how the partnership will impact the scalability, efficiency, and overall capabilities of the blockchain network, opening up new possibilities for the metaverse and blockchain technology.
The partnership between MultiversX and Google Cloud demonstrates the growing significance of the metaverse and blockchain technology and their potential to transform various industries.
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