Increase in “Web3” searches on Google at the same time as the decrease in searches for “Bitcoin”
Data from Google’s keyword search comparison tool, Google Trends, shows that the interest of Internet users is changing from Bitcoin to Web3.
To Report Cointelegraph Investors and cryptocurrency enthusiasts Google Web3 to track innovations in the field, from blockchain applications to virtual tokens (NFTs). Recently, the amount of searches for the phrase “Bitcoin dead” also reached its highest level in history, which indicates the height of anxiety of investors at the same time as the prices fall.
As a result of the long and ongoing decline in the cryptocurrency market, global search volume for Bitcoin has fallen to its lowest level in over a year. On the other hand, the volume of searches for the term Web 3 increased during this period and reached its highest level in 2022.
Also read: What is Web 3.0? How to invest in the next generation of the Internet?
As can be seen from the image above, the interest rate of users searching for the term Web 3 is now at the level of 88%, while this relative benchmark for Bitcoin is at 25%.
If we pay more attention to the Google Trends data, we will find that El Salvador has the most interest in searching for the term Bitcoin over the past 12 months compared to other countries. Users from Nigeria and the Netherlands are ranked next in this regard. In the discussion of interest in searching for the term Web 3, however, China has taken the first place.
The name Nigeria is seen among those interested in searching for both the terms Bitcoin and Web 3. Recently, in response to the interest of Nigerian citizens in the space of digital currencies, the government of this country has conducted initial negotiations with the Binance exchange with the aim of turning this country into an economic zone suitable for digital currencies.
Not long ago, Google also added the possibility of searching for Ethereum addresses and displaying their inventory using the Etherscan blockchain explorer to its search engine. It should be noted that this possibility is still only available for a part of Ethereum addresses and the inventory of all addresses is not displayed in Google results.