CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$32,360.00
  • ethereum
    ETH$1,261.43
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Ethereum Searches Are on Its Highest Level Since Early 2018

    Ethereum Searches Are on Its Highest Level Since Early 2018

    Author: Felix Mollen

    Last Updated Nov 25, 2020 @ 06:00

    Ethereum is on fire right now, both in exchanges and in Google. But does it affect the price or is it just a strange coincidence?

    Ethereum is on fire! And no, we are not talking just about the price. The number of searches about Ethereum and ETH is rising so fast that it can only be compared to early 2018.

    According to data from Google Trends, Americans have been eagerly researching about Ethereum more and more every day since October 2020. The popularity of Ethereum has reached a yearly high, led by Washington DC, California, and New York.

    Searches for "Ethereum" in the US. Image: Google Trends
    Searches for “Ethereum” in the US. Image: Google Trends

    Things are very similar in the rest of the world. The growth in Ethereum’s popularity is remarkable, and the number of searches has surpassed the 2020 and 2019 levels with a higher density of queries in —sit tight— Kosovo, Macedonia, and Nigeria.

    Worldwide Searches for "Ethereum". Image: Google Trends
    Worldwide Searches for “Ethereum”. Image: Google Trends

    Everything seems to follow the behavior of the general markets. Interest in Bitcoin is peaking too, and other altcoins are also emerging in Google Trends.

    Intrest in Bitcoin vs Interest in Ethereum. Image: Google Trends
    Interest in Bitcoin vs Interest in Ethereum. Image: Google Trends

    Ethereum has good reasons to spark interest.

    Several reasons may explain this surge. The first, of course, is the price of ETH: The second-largest cryptocurrency by marketcap is going through a bullish cycle, conquering levels similar to those of 2 years ago.

    And although it is still far from touching its ATH, there is already much speculation about the future of Ethereum on the charts.

    Another reason is the Ethereum 2.0 upgrade. This is undoubtedly one of the most critical events in the entire crypto ecosystem. Ethereum is the infrastructure where almost all DeFis, and most of the dapps, NFTs, and other types of products run.

    #Ethereum 2.0 deposit contract stats

    – Total value staked: 423,200 ETH
    – Validators: 12,575
    – Phase 0 staking goal: 80.7%

    Still 12 hours left to reach the goal of 524,288 ETH required to launch the Beacon Chain on Dec 1st.

    Chart: https://t.co/EK4PNxBmSG pic.twitter.com/3582vvkZ2e

    — glassnode (@glassnode) November 23, 2020

    Upgrading to Ethereum 2.0 would decongest the network and make it more scalable.

    And thirdly, the general interest after the adoption of institutional clients. Just as an example, PayPal announced support for Ethereum transactions and described the blockchain in a controversial but exciting way.

    The contact of nocoiners with events and news about this blockchain could have sparked their interest.

    Is there a correlation between prices and interest?

    Although there is no scientific evidence to determine any causal relationship between the two, the facts —albeit circumstantial— seem to point to it. Generally, an increase in prices coincides with an increase in searches, and a fall in prices tends to coincide with a decrease in interest in Google.

    However, we are still in a phase comparable to the chicken-and-egg problem: What happens first? It is difficult to say if an increase in interest in Ethereum causes a subsequent bullish trend or if people actually search for Ethereum after learning of the price increase.

    However, Google’s projections could be useful for traders. It is currently expected that the interest in searches will continue to increase. If so, even if it is unknown what is causing this boom, the price may follow the same trend if the past repeats itself.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • Ethereum 2.0 All Set For December 1st Launch As ETH Rallies Past $600
    • EthereumAddresses
      Ethereum Prices Tear to $585 as Staking Reaches 55%
    • ethereum_hard_cover
      Ethereum at $500 For the First Time Since July 2018: Interest Increasing
    Read more on: Ethereum Google

    About The Author

    Felix Mollen View more posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

  • bitcoin
    BTC$32,360.00
  • ethereum
    ETH$1,261.43
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    binance
    ADVERTISEMENT
    bitmart
    Bitcoin Editorials
    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!