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MultiversX Ecosystem Gains a Boost With BigQuery Integration

This integration hints at potential growth for the MultiversX ecosystem, underscoring the network’s commitment to enhancing the user experience and assisting its developer community by providing them with new tools.

With this latest collaboration, Google replicates its role as the internet’s information custodian by making MultiversX’s blockchain data readily accessible through BigQuery. This platform operates as an enterprise-grade cloud data warehouse.

The official post claims this move will “democratize access to blockchain insights, offering unprecedented transparency and analysis capability to users and developers alike.”

Integrating BigQuery enables anyone with an account to delve into the MultiversX network’s intricacies without needing specialized software or the lengthy process of syncing the ledger.

Users can now easily query the network’s data, including details about the top 100 block producers, daily transaction counts, and much more, as seen in the chart below. This capability is expected to drive further innovation and development within the MultiversX ecosystem.

Lucian Mincu, CIO of the MultiversX Foundation, highlighted the significance of this development, stating:

Analyzing and interpreting data to reveal useful insights about product usage is a science barely explored in the web3 space. Having Google resolve a big part of the hassle for MultiversX projects is an important step towards making dApps better, more useful, and more appealing to the masses.

Google Support Accelerates MultiversX Development

In addition to data accessibility, the partnership between MultiversX and Google Cloud encompasses a wide range of initiatives to accelerate Web3 adoption and ecosystem expansion. As announced during the xDay 2023 Conference in Bucharest, Romania.

These include a startup accelerator program, hackathons, developer initiatives, and joint business developments. MultiversX’s presence at the company’s booth at GITEX Global in Dubai in 2023 exemplifies the partnership’s deepening collaboration.

The partnership also shows Google Cloud’s commitment to supporting the blockchain community, as highlighted by Daniel Rood, Head of Web3 EMEA for Google Cloud. The partnership aims to drive adoption, “accelerating” the growth of the MultiversX ecosystem and, by extension, the broader Web3 space.

With Google’s backing, MultiversX is poised for accelerated growth, bringing new opportunities for users and developers.

As blockchain technology continues to evolve, partnerships between MultiversX and Google BigQuery are pivotal in shaping the future of digital assets and Web3. By enhancing data accessibility and supporting the development community, MultiversX and Google are setting new standards for innovation and collaboration in the blockchain space.

Chart from Tradingview

Before the recent selloff, Bitcoin was positioned as the next big thing. Investing and trading legends like billionaire philanthropist Paul Tudor Jones say it is like investing in Steve Jobs’ Apple early, or like getting in on the ground floor on Google.

A new comparison suggests that even the latest price action is very much like if you had bought Google early. Here is a closer look at the shocking comparison along with the happy ending that should give crypto holders feeling uneasy some comfort.

Bitcoin Versus Google Comparison Predicts Bull Finale Ahead Of Recession

Bitcoin is a hard subject for many to wrap their head around. The lack of a physical object associated with the asset makes it feel more akin to magic internet money.

Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next?

Those who do properly comprehend the cryptocurrency’s potential, compare it to like investing in a piece of the internet. It has also been compared to investing in Apple or Google early. However, a new comparison inspired by technical analyst Gert van Lagen shows just how accurate that statement might be.

BTCUSD compared to Google during prior to The Great Recession | Source: BTCUSD on TradingView.com

On the left, is the last decade plus of Bitcoin price action. On the right is Google just ahead of The Great Recession. With a recession possibly ahead of us, the comparison isn’t without merit.

The Happy Ending For Google: A Search Engine Giant Emerges

The above comparison has been changed from the analyst’s initial interpretation, but the comparison remains just as jarring. The example suggests that Bitcoin is nowhere near done with the current cycle. Although that provides hope for bulls, the same comparison does show the primary motive wave coming to a conclusion with wave 5, taking the price of Google back to below wave 4.

Related Reading | Did A “Zig-Zag” Correction Shake Out The Crypto Market?

If the same were to happen to Bitcoin, price could fall below the 2017 low eventually, reaching $2,000 per coin during any recession ahead – if it occurs. Many believe the recession is already here, which is why the recent crypto selloff has been so severe. If it isn’t, the market could recover to new highs and while the market is blind, the recession could finally creep in.

Although the correction was especially severe, Google did just fine | Source: NASDAQ-GOOGL on TradingView.com

Ultimately, the correction ended, and the primary uptrend continued higher. The technical analysis methods used in the above charts is referred to as Elliott Wave Theory. The study believes that all markets move in the same wave patterns based on human emotion cycles, hence why the same patterns could appear in two entirely different assets.

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— Tony "The Bull" Spilotro (@tonyspilotroBTC) June 17, 2022

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com