Hedera partners with Google BigQuery to enhance data transparency, driving HBAR prices upward.

Hedera partners with Google BigQuery to enhance data transparency, driving HBAR prices upward.

In a significant move towards enhancing blockchain transparency, Hedera Hashgraph has joined forces with Google BigQuery, allowing businesses and developers to access comprehensive transaction histories. Following this announcement, the price of HBAR surged nearly 10% in the last 24 hours, reflecting renewed interest in the cryptocurrency.

Hedera’s Integration into Google BigQuery

  • Businesses and developers can now query the complete transaction history of Hedera on Google BigQuery.
  • This integration allows for tracking NFTs, DeFi trends, and tokenized assets across several platforms.
  • The price of HBAR has risen significantly in reaction to this news.

According to today’s press release, Hedera has been added to Google BigQuery’s public datasets. This integration enables seamless querying of Hedera’s transaction history, akin to major networks like Bitcoin and Ethereum.

The official blog post highlighted that the addition of Hedera to BigQuery’s public datasets will allow users to perform unprecedented cross-chain research and analysis. This initiative bolsters Hedera’s commitment to transparency and accessibility, providing critical insights into the blockchain for developers and businesses.

With this decision, users can analyze blockchain activity without handling their own infrastructure, gaining easy access to pre-prepared datasets that outline token activity, transaction volumes, and network performance.

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Advancing Blockchain Accessibility Through Strategic Alliances

The integration of HBAR statistics into Google BigQuery follows collaborative efforts between the Hedera Foundation, Hedera developers, Ariane Labs, and Hashgraph engineers. This initiative aims to make Hedera data comparable to other blockchains, enhancing transparency and fostering enterprise adoption.

Reliable, open, and queryable statistics can assist businesses in incorporating blockchain datasets into sectors such as DeFi research, ESG tracking, supply chain management, and web3 development.

Additionally, this initiative utilizes Google Cloud’s infrastructure to ensure that Hedera statistics remain updated and vital for various applications. The team stated:

By making Hedera’s historical data freely accessible, the opportunities for innovation, comparative blockchain research, and business analytics are greater than ever.

Current Price Analysis of HBAR

The native token of Hedera, HBAR, is currently trading at $0.1896, having gained over 9% in the last 24 hours. A 135% increase in daily transaction volume indicates a resurgence of buyer interest, hinting at potential further gains for the altcoin.

HBAR is trading above a critical support level of $0.1888. The current momentum could push prices towards initial resistance at $0.1972, and overcoming this level may support substantial rallies in the short term.

Technical indicators suggest further gains for Hedera’s token. The 4-hour relative strength index of 63 signals buyer momentum, and the moving average convergence divergence is above the signal line, with substantial green histograms indicating bullish momentum. Moreover, HBAR has several catalysts that could enable strong gains moving forward.

For example, the approved Hedera spot ETF has opened the gates for institutions and traditional investor participation.

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John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.

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