As the 2022 year has taken unprecedented turns in the crypto market. As the year comes to end, several cryptocurrencies platform such as FTX, Terra, celsius network, and many others has collapsed and their value has dropped far from their original value.
The market capitalization of all the cryptocurrencies combined has dropped by 70% year to date to over $770 billion.
The reports from google trends suggest that the keyword ‘buy cryptocurrencies’ has reached its lowest since February 2020, as a result of low demand for the cryptocurrencies.
Moreover, no cryptocurrencies are gaining due to global inflation. Besides, the collapse of the FTX has deteriorated the trust of cryptocurrency traders in the market.
Despite the decline in demand, customer interest in cryptocurrencies is still rather high. The customer’s participation curiosity includes long-term investing, short-term, and others, according to the recent research conducted by Accenture.
Another study by the finance portal DollarGreek reveals the top cryptocurrency searches around the world in 2022.
This study further provides an outlook of which cryptocurrency customers are still interested to invest in 2023.
Bitcoin Takeover The Top Spot In Google For Most Searched Crypto In The World
Bitcoin lies in the top spot for 28,410,000 global monthly searches followed by Dogecoin and Shiba Inu with 5,580,000 and 4,430,000 respectively.
Despite the price of bitcoin having dropped by 65%, it currently lies at the top of the chart at $16,871. According to the reports of studies conducted on online searches, the majority of individuals have been interested in bitcoin during this year or next, rather than selling it.
This finding suggests that most individuals have never owned bitcoin up to this date. The value of bitcoin is supposed to skyrocket to $250,000 in the coming year, despite the slump in the 2022 market that led to a loss of over 70% of its value from its all-time high in November 2021. In the United States alone, bitcoin searches were made 4,540,000 times monthly in 2022.
Elon Musk’s favorite meme coin, Dogecoin lies in the second spot, noticing 5,850,000 global monthly searches in 2022 followed by Shiba Inu with 4,480,000 global searches.
Yet the US monthly searches of Shiba Inu 1,290,000 has surpassed the same of Dogecoin 729,000. However, Shiba Inu could catch Dogecoin as its global search numbers stand at $1 million searches apart.
Dogecoin gained its popularity after it was listed on the Robinhood platform, which currently twitter has incorporated into its platform as a trading view.
The acquisition of Twitter by Elon Musk, as he has plans to use Doge as an app purchase has further gained popularity after the meme coin was listed in top business headlines. Likewise bitcoin, Dogecoin has a huge fan base with a bigger pool of buyers than sellers.
Shiba Inu lies in third in most internet searches. Despite its value dropped by 75% in 2022 alone, the talks of the coin have been circulating the internet due to its entry into Metaverse and the potential launch of Shibarium, Shiba Inu’s Ethereum layer-2 blockchain, as well as its induction into Crypto.com
Ethereum, the second largest cryptocurrency in market cap after bitcoin, has declined 67% of its value so far this year, Ethereum is the fourth most-searched cryptocurrency in google with a global search of 3,840,00 and 6,11,000 in the US on monthly basis alone in 2022.
Ethereum keeps hitting the headlines throughout the year for its transition from proof of work (PoW) to proof of stake (PoS) due to the Ethereum merger. However, the keywords Ethereum 2.0 and merge reached their highest level in September 2022.