Google Trends shows a rise in searches for Web3 and a decline for Bitcoin

By: Henry Felix

Google Trends shows a rise in searches for Web3 and a decline for Bitcoin

October 24, 2022 9:39 AM

Searches for the phrase "Bitcoin dead" on the internet peaked as investor anxiety peaked in the face of continuing selloffs.


According to Google search trends, members of the global cryptocurrency community are shifting their focus from Bitcoin (BTC) to Web3.


The decade has seen innovations in everything from blockchain-based applications to nonfungible tokens (NFTs), and crypto investors and enthusiasts have relied on the internet to keep up with these developments, thereby revealing their true feelings in real time. Searches for "Bitcoin dead" hit an all-time high recently as investor anxiety peaked amidst continuing sell-offs.


Global Google searches for Bitcoin are at an all-time low as a result of the extended bear market. Web3 searches, on the other hand, have been gaining momentum and are expected to reach an all-time high in 2022.


Bitcoin (at the top) and Web3 search results on Google (down). The data came from Google's Trends.


As can be seen in the table above, while Bitcoin's popularity has dropped to 27, interest in Web3 is at 72, representing a threefold difference from its peak performance.


The number of Google searches for "bitcoin" indicates that El Salvador is where Bitcoin is most popular, followed by communities in Nigeria and the Netherlands. However, Chinese Internet users conduct the most research on Web3 of any country.


Irritatingly, Nigeria ranks third in the world for both Web3 and Bitcoin Google searches. Binance, a cryptocurrency exchange, and the Nigerian government have recently held preliminary talks regarding the creation of a crypto-friendly economic zone in Nigeria.


As of the 11th of October, Google now includes a tool for discovering information about Ethereum (ETH) wallet addresses.