Today, the price of SXT has seen a dramatic rise following Microsoft’s announcement that it is adding Space and Time blockchain data to its Fabric analytics platform.
SXT, the native token of decentralized data platform Space and Time, skyrocketed as much as 21% to an intraday high of $37 during early morning hours in Asia on May 0,146.
This rally followed Microsoft's announcement about the integration of real-time blockchain data streams in Microsoft Fabric, in partnership with Space and Time Labs, a crypto startup previously backed by a venture arm of Microsoft.
According to the May 20 announcement, Microsoft Fabric users will gain access to verifiable data from the Bitcoin, Ethereum, and Sui blockchains through Azure OneLake, a cloud storage solution often described as a “OneDrive for data.”
Microsoft Fabric is an end-to-end analytics platform that brings together several tools, including Azure Data Factory, Synapse Analytics, and Power BI.
With this integration, Fabric enterprise users can now incorporate tamper-proof blockchain data directly into their analytics, smart contracts, dashboards, and even AI models. How cool is that?
The verifiability of this data is enabled by Space and Time's proprietary “Proof of SQL” technology, which uses zero-knowledge (ZK) proofs to safely and efficiently validate SQL database queries.
Nate Holiday, CEO from Space and Time Labs, responded enthusiastically to this development: “We are excited to expand our partnership with Microsoft to deliver verifiable blockchain data to enterprises, institutions, and developers building on Fabric. This integration opens the door to countless data-driven applications across financial services, Web3 apps, and AI.”
The announcement comes just a week after Space and Time launched its public, permissionless mainnet. The platform is built on a decentralized network of database validators and enables sub-second query speeds via its ZK-powered SQL coprocessor.
Space and Time is developed by MakeInfinite Labs and is backed by Microsoft’s venture arm, M12. M12 led the company’s strategic funding round in 2022 and also participated in its $20 million Series A round. To date, Space and Time has raised a total of $50 million.
On the 4-hours chart, SXT has managed to hold strongly above the $0,12 support line and is now approaching the crucial psychological resistance of $0,15.
The Aroon Up indicator is high at 92,86%, while the Aroon Down is low at 21,43%. This is a sign that the uptrend is still strong. The Chaikin Money Flow is at 0,14, which shows that the buying pressure is still there.
Additionally, the Relative Strength Index has cooled down to around 62 after briefly falling into overbought territory, providing room for further upside. The next target for SXT appears to be its all-time high of $0,1621. If the bullish momentum continues, it could even break further up into uncharted price territory.
What is SXT?
SXT is the native token of Space and Time, a decentralized data platform offering real-time blockchain data.
Who supports Space and Time?
Space and Time has received backing from M12, the venture arm of Microsoft, and has raised a total of $50 million.
What does Microsoft Fabric add to blockchain data?
Microsoft Fabric enables enterprises to integrate verifiable, tamper-proof blockchain data into their analytics and applications, creating a host of new capabilities.
“And now, what will be your next move in this dynamic crypto world?