Search interest in ‘cryptocurrency’ falls to 2020 levels

Search interest in ‘cryptocurrency’ has fallen to the lowest levels since December 2020. This is indicated by data Google Trends.

The peak score of 100 points was reached in May 2021. The most searched for ‘digital assets’ are in the Netherlands, Nigeria and Singapore.

Search volumes began to decline from May 2022 after the Terra ecosystem crash, with a further drop occurring in November due to the collapsed FTX.

Cryptoanalyst under the pseudonym Coin Bureau suggested that the negative trajectory of queries correlates with a drop in activity on crypto exchanges. The index is at its lowest levels in 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.

Apathy? pic.twitter.com/UPOmhNGeDN

— Coin Bureau (@coinbureau) June 4, 2023

Interest has not declined across all areas of the crypto industry. Searches for ‘DeFi’ continue to rise, and the popularity of ‘meme tokens’ peaked in early May.

Meanwhile the ‘Fear and Greed’ index sits at a neutral 53, indicating moderate investor sentiment.

Earlier, ForkLog drew attention to the rising share of trading volume on DEX to CEX to a record 22%. This occurred amid the popularity of meme cryptocurrencies.

In April, the number of bitcoin-related queries in the United States reached 1.9 million. Bitcoin, the leading cryptocurrency, surpassed former President Donald Trump, the famous musician Elvis Presley and Disney World in popularity.