To help developers in the Web3 space, Google Google Cloud’s Blockchain Node Enginemany believe that this will be a positive for the price of Ethereum.
Many companies have become involved in cryptocurrencies over the last few years, but the biggest big tech companies have seemed somewhat reserved so far. The drop in has to be taken into account, which makes sense given that it has so many users that it is held to a very high standard by its users.
As one of the largest companies in the world, Google’s support for the Ethereum network has led many to believe that this seal of legitimacy is very favorable for the price of Ethereum, which could top $10,000 in the next bull market. I came to believe that there is even sex.
When Will Ethereum Price Recover to $2,000?
The bear market has been pretty tough for Ethereum’s price, dropping from a high of $4,500 with few very bullish gains.
However, during the last week, the price of Ethereum began to show bullish signs again, with the price 17% or more in the last 7 days.
All eyes are on whether the Federal Reserve will reverse its rate hike program.
If they pivot quickly, As BlackRock economists predictedthen “risk-on” assets, especially given that persistently high levels of inflation mean that holding commodities, stocks and coins like Ethereum is preferable to holding bonds. , which could lead in a very positive direction.
Ethereum Acquisitions and Censorship Growing
Despite being fully aware that the integration would make Ethereum less resistant to censorship, the Ethereum Foundation developers decided to continue the integration.
highly centralized Entities staking Ethereum (Lido, Kraken, Coinbase controlling over 50% of validators) are not considered a significant enough risk and the team would rather maintain Ethereum as decentralized and censorship-resistant. , decided it was important to move to Proof of Stake. Communication network.
We believe this decision was made because the Proof of Stake explanation makes it much easier to be ESG compliant. Not understanding the nuances of how proof of work is good for the environment.
As it stands, the overwhelming majority of Ethereum blocks are currently restricted by OFAC sanctions, and censorship on the network is slowly increasing by the day.
This gave more fuel to the Bitcoin maximalist camp, which warned that this would happen as soon as blockchain abandoned proof of work.
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