Searches for the word “cryptocurrency” have fallen to their lowest levels since December 2020. This is evidenced by Google Trends data.
Popularity of queries for the word “cryptocurrency”. Data: Google Trends.
The indicator reached a maximum of 100 points in May 2021. The most searched for “digital assets” are in the Netherlands, Nigeria and Singapore.
Request volumes began to decline in May 2022 after the collapse of the Terra ecosystem, and an even greater decline occurred in November due to the collapse of FTX.
A cryptanalyst under the pseudonym Coin Bureau suggested that the negative dynamics of requests correlates with a drop in activity on crypto exchanges. The indicator is at its lowest levels in the last 32 months.
"Crypto" search trends are at the lowest point they have been since December 2020. This also corresponds to exchange volumes which were at 32 month lows this past May. Apathy? pic.twitter.com/UPOmhNGeDN
— Coin Bureau (@coinbureau) June 4, 2023
Interest has not decreased in all areas of the crypto industry. Requests for “DeFi” continue to increase, and the popularity of “meme tokens” peaked in early May.
Meanwhile, the “fear and greed index” is at a neutral level of 53 points, which indicates moderate investor sentiment.
"Fear and Greed Index" Data from alternative.me.
Previously, ForkLog drew attention to the increase in the ratio of trading volume on DEX to CEX to a record 22%. This happened against the backdrop of the popularity of meme-cryptocurrencies.
Let us recall that in April the number of Bitcoin-related queries in the United States reached 1.9 million. The first cryptocurrency surpassed ex-President Donald Trump, famous musician Elvis Presley and Disney World in popularity.
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