SXT crypto’s price spiked today after Microsoft announced it’s adding Space and Time’s blockchain data to its Fabric analytics platform.
SXT (SXT), the native token of decentralized data platform Space and Time, rose as high as 37% to an intraday high of $0.146 on May 21 morning Asian time.
The rally followed Microsoft’s announcement that it would begin integrating real-time blockchain data feeds into Microsoft Fabric through a partnership with Space and Time Labs, a crypto startup previously backed by a Microsoft venture arm.
According to the May 20 announcement, the collaboration will allow Microsoft Fabric users to access verifiable data from Bitcoin, Ethereum, and Sui blockchains via Azure OneLake, a cloud data storage solution often described as a “OneDrive for data.”
For the uninitiated, Microsoft Fabric is an end-to-end analytics platform that unifies several tools across Microsoft’s data suite, including Azure Data Factory, Synapse Analytics, and Power BI.
As part of this integration, enterprise users of Fabric will now be able to incorporate tamper-proof blockchain data directly into their analytics, smart contracts, dashboards, and even AI models.
The verifiability of this data is made possible by Space and Time’s proprietary “Proof of SQL” technology, which uses zero-knowledge (ZK) proofs to validate SQL database queries securely and efficiently.
Commenting on the development, Nate Holiday, CEO of Space and Time Labs, said:
“We’re thrilled to expand our collaboration with Microsoft to provide verifiable blockchain data to enterprises, institutions, and developers building on Fabric. This integration enables a wealth of new data-driven use cases across financial services, Web3 apps, and AI.”
This announcement comes around a week after Space and Time launched its public, permissionless mainnet. The platform operates on a decentralized network of database validators and enables sub-second query speeds through its ZK-powered SQL coprocessor.
Space and Time was developed by MakeInfinite Labs and is backed by Microsoft’s venture arm, M12.
M12 led the company’s strategic funding round back in 2022 and joined their $20 million Series A round later. So far, Space and Time has raised a total of $50 million.
SXT price analysis
On the 4-hour chart, SXT has managed to hold strong above the $0.12 support level and is now approaching the key $0.15 psychological resistance.
The Aroon Up indicator is sitting high at 92.86%, while the Aroon Down is low at 21.43%, a sign that the uptrend is still going strong. The Chaikin Money Flow is at 0.14, showing steady buying pressure is still in play.
On top of that, the Relative Strength Index has cooled off to around 62 after briefly hitting overbought territory, which leaves some room for more upward movement.
Hence, the next likely target for SXT is its all-time high of $0.1621, and if the bullish momentum continues, it could break into price discovery beyond that level.
