Not many crypto search terms have come close to their peaks in spite of the new bull market, but Ethereum is a notable exception.
More people are searching for the word “Ethereum” now than ever before in its history.
Google Trends data reveals that the number of Google searches currently being performed for “Ethereum” is at an all-time high, eclipsing search interest during the height of the last Ether (ETH) bull run.
Ethereum’s previous peak in search term popularity was on Jan. 13, 2018 — the date of ETH’s all-time high of $1,432.88. Google Trends Worldwide Search Interest for #Ethereum projected to reach an all-time high: pic.twitter.com/oisOk9HhoD
— Michael Vincent (@mmichaels_21) January 7, 2021
Historically considered a “folk metric,” a rising Google Trends interest score for a crypto search term is associated with positive sentiment for that particular coin/project.
While it makes sense that search interest on Ethereum would peak during the run-up to a new all-time high, the same can’t be said for searches of “Bitcoin,” which remain at just 65% of its peak popularity on Dec. 23, 2017.
That said, many more people are searching for “Bitcoin” rather than “Ethereum” by a ratio of approximately five to one.
An increase in popularity for various crypto search terms could potentially spawn a self-perpetuating bull run as curious investors make purchases, fueling the price upward and thus sparking more interest, resulting a greater number of searches. Using Google Trends data it looks like the Ethereum price lags the searches by one week.
We could see the Ethereum price hit a new ATH between the 10th – 16th January. pic.twitter.com/WBmWgevZ3r
— IMineBlocks ⛏️ (@IMineBlocks_com) January 7, 2021
Google Trends also provides data corresponding to relative interest by region. Currently, the nations with the highest interest in “Ethereum” as a search term are Kosovo, North Macedonia, Slovenia, Nigeria and China.
Here are some cryptocurrency-related keywords along with their current interest expressed as a percentage of peak interest, which for most terms was in December 2017 or January 2018:
- Ethereum: 100%
- DeFi: 90%
- Ethereum Classic: 87%
- Crypto trading: 84%
- Bitcoin: 65%
- DApp: 63%
- Digital currency: 60%
- Vitalik Buterin: 56%
- Tether: 45%
- XRP: 42%
- Satoshi: 42%
- Smart contract: 41%
- Blockchain: 41%
- Cryptocurrency: 29%
- Litecoin: 14%
- Bitcoin Cash: 9%
Most of the terms above have been increasing in search frequency over the last few weeks.