BOUNCEBIT price jumps 16% after major partnership

BounceBit, the native Bitcoin restaking blockchain, is one of the cryptocurrency projects enjoying a bumper Santa rally as its token jumps over 16%.

On Dec. 24, the price of BounceBit (BB) rose to above $0.43, and this came after the token’s dip in the past week, which saw bears push it to under $0.32.

As Bitcoin’s (BTC) price recovered to above $97,000 amid a fresh holiday-driven bounce, BB reached a new seven-day high.

These gains came a day after the BTC restaking platform announced a major partnership agreement with cloud computing giant Google Cloud.

Read more: BounceBit partners with Ondo Finance for tokenized real-world assets

In their announcement, BounceBit and the Google cloud computing provider said they teaming up to revolutionize the real-world asset market.

Specifically, the collaboration targets RWA digitization in Southeast Asia. Binance Labs and Blockchain Capital-backed BounceBit will leverage Google Cloud’s architecture to bolster its traction in the CeDeFi ecosystem.

Key to this will be Google Cloud’s Vertex AI technology, which will enhance the restaking platform’s performance and security.

In a comment, BounceBit co-founder Jack Lu said:

“Verifying transactions on our platform is very important, and incidents must be solved immediately. With Compute Engine, we’ve seen an improvement in response time by 50% not only for our chain, but also for the CeDeFi infrastructure.”

The BB token’s price has increased by 33% in the past month. However, it remains more than 50% off its all-time high above $0.86, reached in June 2024.

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