Bybit Supports MultiversX EGLD Network Upgrade

MultiversX v1.8 Upgrade Aims at Network Efficiency

The MultiversX (EGLD) network upgrade, supported by Bybit, introduces the v1.8.12 iteration. The upgrade is designed to enhance network functionalities and efficiency. This aligns with a history of consistent updates aimed at improving scalability and user interactions within the network.

Bybit, a prominent trading platform, announced its decision to support the MultiversX upgrade. The upgrade is set for completion by March 2025, marking another step in MultiversX’s continuous evolution of its ecosystem. Investors are closely watching these changes.

EGLD Market Shows 7.38% 24-Hour Increase Amidst Upgrade

Based on cryptocurrency data from CoinMarketCap, MultiversX’s EGLD token currently trades at $19.63, with a market cap of $550 million and market dominance of 0.019%. Recent price movements show a 24-hour increase of 7.38% and a 7-day gain of 8.96%, despite a 30-day decrease of 17.64%. Trading volume has experienced a 3.33% decrease, totaling $34.8 million. The circulating supply stands at approximately 28 million out of a maximum supply of over 31 million.

The upgrade is expected to bring financial, regulatory, and technological results. With EGLD’s combination of smart contracts and mobile payments, its position is strengthened as it adapts and grows within the market. This could lead to further support from industry insiders looking at technological advancements.

MultiversX Upgrades Boost Transaction Speed, Adoption

The current upgrade mirrors past improvements such as the v1.0 release, which marked significant growth for MultiversX. Network enhancements have previously led to increased investment interest. The consistent upgrade path continues to solidify their standing within the blockchain realm.

Experts from Kanalcoin suggest that the current upgrade could lead to increases in transaction speeds. Historical trends indicate a potential rise in user engagement and adoption. Such advancements in technology could enhance MultiversX’s competitive edge among blockchain solutions.

“The upgrade, named ‘Spica Patch 4 – v1.8.12,’ aims to enhance security by transitioning the protocol’s sustainability rewards from a single-key wallet to a more secure multisig wallet.” – Announced Upgrade