BOUNCEBIT price jumps 16% after major partnership

BounceBit, the native Bitcoin repurchase blockchain, is one of the cryptocurrency projects that is enjoying a massive Santa rally as its token surges over 16%.

On December 24, the price of BounceBit (BB) rose above $0.43, which followed a decline last week when the token was pushed below $0.32 by bears.

BB hit a seven-day high as the price of Bitcoin (BTC) rebounded above $97,000 amid a new holiday-fuelled rally.

These gains come a day after the BTC repurchase platform announced a major partnership deal with cloud computing giant Google Cloud.

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

The collaboration specifically targets the digitalization of RWA in Southeast Asia. Backed by Binance Labs and Blockchain Capital, BounceBit will leverage Google Cloud’s architecture to increase its traction in the CeDeFi ecosystem.

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

BounceBit co-founder Jack Lu said in a comment:

“Validation of transactions on our platform is crucial and incidents need to be resolved immediately. With Compute Engine, we have seen a 50% improvement in response time not only for our chain but also for the CeDeFi infrastructure.”

The price of the BB token increased by 33% in the past month. However, it remains more than 50% behind the all-time high of $0.86 reached in June 2024.