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Ethereum boom on Google Trends


en.cryptonomist.ch 2020-11-26 13:00
Reading time: ~2 m

In recent days there has been a real boom in Google searches for Ethereum

This is shown by Google Trends, which reveals that in the last few days there has been a real peak in searches all over the world, similar to the one at the beginning of August and mid-July 2019. 

Indeed, analyzing data relating only to the US, the current peak is only lower than that of the 2017 speculative bubble, so much so that the level of searches for the “ethereum” keyword is now similar to that of mid-February 2018. 

Why are Google searches for Ethereum growing?

It is likely that this boom is due to the sum of two factors. 

First, the price of ETH, which has grown a lot in recent weeks, with even further prospects for long-term growth

This is complemented by the launch of Phase Zero of Ethereum 2.0, scheduled for December 1st. 

While on the one hand, the price performance of ETH is attracting the attention of investors, especially a large number of retail investors, on the other hand, technical innovations are also attracting the attention of those who are not particularly interested in speculation.

In fact, Ethereum 2.0 is a real historic transition, not only for the second cryptocurrency in the world by market capitalization but also for the blockchain that literally dominates the decentralized finance sector. 

The previous high of searches recorded in 2017 was mainly related to the performance of ETH’s price, which between May and June of that year went from $90 to $400 in less than a month, and between November and January went from $300 to $1,400 in about two months. 

These very rapid increases, of 340% and 360% respectively, generated a hype that is not comparable to the current upswing, although it should not be forgotten that the current increase in value is 56% in three weeks, as it went from less than $400 to almost $600. 

The two curves, i.e. the increase in searches in the US and the increase in price, seem to go hand in hand in recent weeks, but in addition to this, the news for the launch of the new protocol is certainly contributing to the volume of searches. 


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