The number of search queries for the word “cryptocurrency” has sharply decreased

The number of searches for the word “cryptocurrency” has fallen to its lowest level since December 2020. This is evidenced by the data Google Trends.

The popularity of queries for the word “cryptocurrency”. Data: Google Trends.

The indicator reached a maximum of 100 points in May 2021. Most of all “digital assets” are Googled in the Netherlands, Nigeria and Singapore.

Request volumes began to decline from 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 the lowest levels for the last 32 months.

https://twitter.com/coinbureau/status/1665327527420624898

Interest has not declined 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 “index of fear and greed” is at a neutral mark of 53 points, which indicates moderate investor sentiment.

It should be noted that in April the number of requests related to bitcoin in the United States reached 1.9 million. The first cryptocurrency surpassed the popularity of ex-president Donald Trump, the famous musician Elvis Presley and Disney World.

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