Quick take:
- Ethereum’s Google search interest is at an all-time high exceeding levels last seen during the 2017/18 bull cycle
- The increment in Ethereum Google queries started to increase significantly in mid-December
- This coincided with the launch of ETH 2.0 and Ethereum breaking the $600 price ceiling
- 2021 could very well be the year Ethereum thrives in the crypto markets
Google search interest for Ethereum (ETH) on a global level is at an all-time high. This is according to Google Trends which indicates that search volume surrounding the number 2 digital asset of Ethereum, has spiked to record levels that have exceeded those witnessed during the 2017/2018 bull cycle.
The chart below courtesy of Google Trends further demonstrates the currently high search interest surrounding Ethereum.
Ethereum Search Interest Spiked During the Launch of ETH 2.0
From the chart above, it can be observed that the global search interest surrounding Ethereum started to increase around the first and second week of December. This time period coincides with the final preparations surrounding the launch of ETH 2.0’s Beacon chain. By this time, ETH 2.0 had achieved and exceeded the required 524,288 Ethereum deposits needed to kick start the process.
Search Interest Also Increased as ETH broke $600
Mid-December was also when Ethereum broke the $600 price ceiling thus piquing the interest of investors and traders. By eyeballing Ethereum’s Google Trends chart, one can see a correlation between ETH search interest and its price skyrocketing to a three year high of $1,348 – Binance rate – witnessed on January 19th.
Is 2021 Ethereum’s Year?
Doing the math, Ethereum has more than doubled since mid-December with many ETH traders and analysts forecasting that the digital asset could very well provide more gains in 2021 than Bitcoin. Therefore, investor interest surrounding Ethereum is in high gear as seen through the increment of ETH whales in the past two weeks.
However, Ethereum’s fate in the markets is very much tied to that of Bitcoin and BTC needs to provide an ideal market environment for ETH to thrive.