At press time, the world’s second largest cryptocurrency by total market capitalization is trading at $286.10. This represents a drop of 1.56% in the overall value of Ether since yesterday afternoon.
It is worth noting that over the course of the past week, the value of Ethereum has been hovering around the $290 mark. This has allowed investors to rest easy and finally get some peace of mind, especially since the currency had been experiencing a crazy freefall all through August— with the value of the altcoin even stooping to an annual low of $251.28 on the 14th of last month.
It has been noted by many financial analysts, including the head of Fundstrat, Tom Lee, that the release of Ether Futures could adversely affect the price of the currency in the coming few months. However, for the time being, such worries can be set aside, especially since the CTFC still has to give its verdict as to whether it will even allow for the offering to be released into the commercial market in the first place.
Google Joins Hands With Ethereum For its Latest Tech Offering
Another development within the Ether community that has gotten a lot of people excited is Google’s decision to make use of the Ethereum Blockchain for its Big Data Analytics platform.
According to a blog post on Google’s official cloud service webpage, BigQuery, the company’s Petabyte-scale data warehousing solution, will be incorporating Ether’s native blockchain data to help users perform detailed analysis of existing smart contracts within its digital ecosystem in a highly streamlined fashion.
To elaborate further on this development, Google developers claim that through the use of BigQuery, it will now be possible for users to explore and delve into all of the historical data related to Ethereum and its various iterations. Not only that, in order to help bolster the company’s operations, Google is currently on the lookout for new contributors and blockchain specialists.
BigQuery has already gone live and can be used by enthusiasts for analyzing niche’ smart contract domains such as:
It now remains to be seen whether this development is able to help push the price of ETH in a positive direction.
Chart Courtesy of TradingView.com