The number of searches for the word “cryptocurrency” has fallen to its lowest level since December 2020. This is evidenced by data from 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.
“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.
— Coin Bureau (@coinbureau) June 4, 2023
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.
Earlier, ForkLog drew attention to the increase in the ratio of trading volume by DEX To CEX to a record 22%. This happened against the backdrop of the popularity of meme-cryptocurrencies.
Recall that in April the number of requests related to bitcoin in the United States reached 1.9 million. The first cryptocurrency bypassed the popularity of ex-president Donald Trump, the famous musician Elvis Presley and Disney World.
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