Cryptocurrencies have been hit so hard in 2022 due to the Fed’s interest rate hike as well as the collapse of a series of famous platforms such as Terra, Celsius Network, FTX, and more. Market value of all cryptocurrencies has dropped 70% year-to-date, traders and investors have also faced many difficulties. Crypto winter has brought searches related to “buy cryptocurrency” to its lowest level since February 2020, according to Google Trends.
However, according to Accenture’s 2022 Global Consumer Payments report, compared to other sectors, user interest in cryptocurrencies remains high, despite the collapse of the market. A separate research by personal finance site DollarGeek has shown the most searched cryptocurrencies worldwide in 2022.
Bitcoin is, unsurprisingly, the most searched cryptocurrency on Google in 2022 with 28.41 million monthly searches worldwide, as DollarGeeks reported. BTC price was down nearly 65% since the beginning of the year, some analysts even predict it will continue to fall to $10,000. However, the number of related keyword searches over the past 12 months showed that most people have searched to buy Bitcoin rather than sell it. This proved that Bitcoin still keeps the faith as a long-term investment.
Dogecoin is the second most searched coin after Bitcoin with 5.85 million monthly searches worldwide by 2022. The reason was mainly due to Elon Musk, who bought Twitter and teased his followers with the idea of integrating DOGE payments into this social platform. DOGE also attracted the attention of users after being listed on Robinhood, a commission-free trading platform based in the US.
All have helped Dogecoin become one of the most searched cryptocurrencies on Google. Although DOGE price was down 55% year-to-date, internet search data shows that its pool of potential buyers may be higher than sellers, similar to Bitcoin.
#3 Shiba Inu
Shiba Inu recorded the number of monthly searches reaching 4.43 million. However, within the US, this coin meme beat Dogecoin’s 729.000 searches with 1.29 million monthly searches. SHIB was down 75% year-to-date, but it remains in the spotlight due to its foray into the metaverse and the potential launch of Shibarium, Shiba Inu’s Ethereum Layer 2 blockchain.
Searches related to Shiba Inu also spiked due to Crypto.com, a crypto exchange with the largest SHIB position as of November 2022. The market feared that Crypto.com would be insolvent, which would force them to sell their SHIB holdings. However, Crypto.com CEO Kris Marszalek confirmed that their growing SHIB reserves were purchased by customers.
Ethereum is the fourth most searched cryptocurrency worldwide with 84 million monthly searches in 2022. The second largest blockchain by market cap stayed in the news throughout the year as its transitions from proof of work (PoW) to proof of stake (PoS) via The Merge. Keywords related to Ethereum like “Ethereum 2.0” or “The Merge” peaked in September when The Merge happened.
Cardano (ADA) attracted an average of 1.47 million monthly searches in 2022, making it the 5th most searched cryptocurrency worldwide. The reason is because in Jan 2022, ADA outperformed Bitcoin and Ether in price. After that, however, searches dropped and the Vasil hard fork in September also failed to produce a spike in interest.
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