A small city in Romania called Sibiu could “soon” adopt cryptocurrency, according to a casual interaction on X this morning. In particular, the Romanian city could be eyeing to “fully adopt” MultiversX (EGLD), a blockchain developed by a Romania-based team.
The interaction started with xEli (@ElrondEli1) saying “the vice president of Sibiu county” liked an EGLD-related post, tagging Vlad Vasiu. “When will EGLD be fully adopted in Sibiu/Romania?,” xEli asked.
Surprisingly, Vlad Vasiu, the Vice President of the Sibiu County Council (vicepreședintele Consiliului Județean Sibiu, in Romanian), according to Sibiu Independent, responded that it would be “Soon.”
Will Sibiu, in Romania, adopt EGLD soon?
This comment has sparked speculation on the MultiversX community that Sibiu could soon adopt the cryptocurrency EGLD.
While Vasiu’s answer does not give a conclusive confirmation or a timeline for that, it does suggest that there are official interest in doing so, with the city’s council having an eye on MultiversX and the broader cryptocurrency market.
Notably, the blockchain context in Romania is favorable for what could be an upcoming adoption, starting in Sibiu. The country is known for its crypto-friendly approach and already has blockchain implemented in a few applications.
For example, Finbold reported how blockchain was used to register votes of the Romanian Presidential Elections in November 2024. Interestingly, Romania’s National Press Agency also uses the MultiversX blockchain to mint daily news on the ICI Bucharest marketplace, as the Foundation shared on X.
Moreover, xMoney Global – a leading Web3 payment provider, according to Binance – is launching three MiCA-compliant stablecoins in Europe, including RONX. This stablecoin will be pegged to the Romanian Leu (RON) and xMoney claims to be in contact with the Central Bank of Romania for that. The company is “powered by MultiversX,” as read in its X account and website.
MultiversX (EGLD) price analysis
Despite the positive sentiment from a potential real-world adoption “soon,” EGLD is struggling price-wise, registering significant losses on the chart. In the last 30 days, the MultiversX native token accumulates 26.06% losses, following a broader market trend.
Cryptocurrencies crashed earlier in February as Donald Trump started a global trade war, imposing tariffs against significant economies, bringing uncertainty. EGLD suffered from that as well, trading at a bearish range at $22.39 per token, near a technical support.
Nevertheless, the cryptocurrency’s fundamentals remain strong, with many positive developments and an upcoming integration with the Axelar Network (AXL). Beniamin Mincu, CEO at the MultiversX Foundation, believes this offers a “great interop arbitrage opportunity,” as cross-chain interoperability fuels liquidity.
On a related note, Justin Bons, founder and CIO of Europe’s oldest cryptocurrency funds, has praised MultiversX’s and EGLD’s fundamentals several times on X.
Bons called MultiversX “the technological Holy Grail of crypto” in one occasion, covered by Finbold. Additionally, he praised the “small team in Romania that raised $5M in 2019,” for building “the most technically advanced blockchain today,” in another post.
As things develop, traders, investors, developers, and users have now their eyes on EGLD and a potential adoption by Sibiu. Cautious is still required as it is important to understand that some things can take more time than expected to happen, and political changes could impact and even frustrate some expectations, which should be properly managed.
Featured image from Shutterstock.