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A small city in Romania, Sibiu, has sparked speculation about the potential adoption of cryptocurrency, specifically EGLD, the native token of the MultiversX blockchain. The speculation follows comments from city council member Vlad VASIU, who hinted at official interest in the cryptocurrency and the broader market. The blockchain context in Romania is favorable for such adoption. The country has already implemented blockchain in various applications, including vote registration for the November 2024 Romanian presidential election.
In addition, the National Press Agency uses the MultiversX blockchain to publish daily news on the ICI Bucharest trading platform. Moreover, xMoney Global, a leading Web3 payments provider, is launching three MiCA-compatible stablecoins in Europe, including RONX, which will be pegged to the Romanian leu (RON). The company is powered by MultiversX, suggesting potential integration with the city’s adoption plans.
Despite the positive sentiment surrounding potential real-world adoption, EGLD is struggling with its price, recording significant losses on the chart. Over the past 30 days, the native token MultiversX has accumulated 26.06% losses, following the broader market trend. However, the cryptocurrency’s fundamentals remain strong, with many positive developments and an upcoming integration with Axelar Network (AXL).
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