2020-11-26 19:37 |
The hype around Ethereum is far from fading as Google Trends reveal the number of searches are going through the roof
Ethereum’s recent impressive performance has been reflected by a spike in Google searches that are fast approaching levels not seen since 2018.
The crypto’s popularity on the internet has reached a yearly high in the US, thanks to searches from California, New York and Washington.
The situation is no different across other regions in the world. This tremendous growth in November has already surpassed the levels posted over the last two years. The top four cities with the highest density of these Google searches are San Francisco, Singapore, Toronto and Vienna.
Chart showing the trend of searches for ‘Ethereum’ worldwide. Source: Google Trends
It comes as no surprise interest in Ethereum is soaringThere are a couple of factors that could be driving the surge. For starters, Ethereum prices have been soaring lately, which could explain the trend seen on Google. ETH prices are on a bullish run and closing in on the levels last recorded in 2018.
The rising interest in Ethereum on Google could also be a result of the growing hype following the adoption of institutional clients. Global payment service firm PayPal recently confirmed support of crypto, including Ethereum on its platform.
The upcoming launch of Ethereum 2.0 could be another reason for the rise in popularity. Ethereum 2.0 is arguably the hottest topic in the crypto-verse at the moment. The long-awaited upgrade is set to be launched on 1 December.
Does the interest affect the crypto’s price?The 64 million dollar question at the moment is if the surging interest impacts ETH price or is just a mere coincidence.
There is no solid argument that explains the relation between the two factors. Nonetheless, the figures at hand give the impression that is at least some correlation. In the past, an increase in the price has often aligned with an increase in Google searches and vice versa.
That said, it is almost impossible to make a concrete comparison at this stage. It is yet to be apparent if the surge in interest is the cause or effect of the bullish run.
The post Ethereum Google searches hitting new yearly high appeared first on Coin Journal.
Similar to Notcoin - Blum - Airdrops In 2024
Ethereum (ETH) на Currencies.ru
|
