Top-five most Googled cryptocurrencies worldwide in 2022

December 23, 2022 Coin Telegraph

2022

Bitcoin remains the most-searched cryptocurrency in 2022 by far thanks to its top-brand status and being in a league of its own when it comes to decentralization.

Cryptocurrencies have suffered immensely in 2022 from the onslaught of a hawkish Federal Reserve and the implosions of crypto platforms FTX, Terra, Celsius Network, and others.

What were the most-searched cryptocurrencies in 2022?

Notably, the market valuation of all the cryptocurrencies combined has dropped 70% year-to-date (YTD) to nearly $770 billion, signifying massive capitulations by traders and investors alike.

The waning demand has also pushed the internet requests fo6r the keyword "buy cryptocurrency" to their lowest since February 2020, according to Google Trends.

*Interest in the* *the keyword "buy cryptocurrency" over the past five years. Source: Google Trends*

Nonetheless, the latest Accenture's 2022 Global Consumer Payments report shows that retail interest in cryptocurrencies remains high despite 2022's market crash. The reasons given by responders include long-term investments (28%), curiosity (22%), short-term speculation (21%), and others.

Meanwhile, separate research by personal finance portal DollarGeek dwells into 2022's most-searched cryptocurrencies worldwide, thus presenting a rough outlook on what retail players may invest in heading into 2023.

*Top 10 cryptocurrencies based on U.S. and global monthly searches. Source: DollarGeek*

Bitcoin remains most-googled by far

Bitcoin (BTC) has emerged as the most googled cryptocurrency in 2022 in DollarGeek's research, attracting 28.41 million monthly searches worldwide.

The interest remains relatively high as experts assess its quality compared to other crypto assets in the industry. For instance, venture capital investor Tim Draper thinks weaker coins will become relics amid the ongoing crypto winter to Bitcoin's benefit.

With @CNBC @WebSummit . Here is why @bitcoin will reach $250k. https://t.co/DqARhl8pAu
— Tim Draper (@TimDraper) December 16, 2022

BTC's price is down nearly 65% YTD with some analysts predicting it would fall further toward $10,000. But internet searches over the past 12 months reveal that most people have searched for buying Bitcoin, not selling it, which suggests that most people have still never owned Bitcoin.

*Interest in the keyword '"buy bitcoin" (red) and "sell bitcoin" (blue) over the last 12 months. Source: Google Trends*

Elon Musk's favorite Dogecoin bags the second spot

Dogecoin (DOGE) is the runner-up to Bitcoin, attracting an average of 5.85 million monthly searches worldwide in 2022.

The meme-cryptocurrency was in the news mostly due to Elon Musk who purchased Twitter and teased his followers with the idea of integrating DOGE payments for in-app payments. However, it also gained traction after getting listed on Robinhood, a U.S.-based commission-free trading platform.

**Click “Collect” below the illustration at the top of the page or** **follow this link**.

These events helped Dogecoin record temporary surges in internet searches, as shown in the Google Trends chart below. For instance, Musk's eventual Twitter buyout in late October coincided with Dogecoin internet trends rallying to a perfect 100 score.

*Interest in the keyword "Dogecoin" over the last 12 months. Source: Google Trends*

So wile DOGE's price is down roughly 55% YTD, the internet search data suggests that its potential pool of buyers could be relatively higher in number than sellers, similar to Bitcoin.

*Interest in the keyword "buy Dogecoin" (blue) and "sell Dogecoin" (red) over the last 12 months. Source: Google Trends*

Shiba Inu comes third but beats Dogecoin in US

Shiba Inu's (SHIB) monthly internet searches globally came at 4.43 million. Nonetheless, the meme-coin has beaten its top-rival Dogecoin in the U.S., with 1.29 million monthly searches versus DOGE's 729,000.

That is despite Shiba Inu's weaker price performance in 2022 compared to Dogecoin. SHIB is down roughly 75% YTD, but staying in the news due to its foray into the metaverse and the potential launch of Shibarium, Shiba Inu's Ethereum layer-2 blockchain.

In addition, the internet searches for 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 become insolvent, which will prompt it to sell its SHIB holdings.

*Interest in the keyword "Shiba Inu" over the last 12 months. Source: Google Trends*

However, Crypto.com CEO Kris Marszalek clarified that their mounting SHIB reserves are due to customer buying.

Merge assists Ethereum in securing the fourth position

Ethereum is the fourth most-googled cryptocurrency worldwide with 3.84 million monthly searches in 2022 despite Ether (ETH) price losing 67% YTD.

The second-largest blockchain by market cap stayed in the news throughout the year due to its switch to proof-of-stake (PoS) from proof-of-work (PoW) via the Merge. Notably, interest in the keyword "Ethereum" and related terms like "Ethereum 2.0" and "Merge" peaked in September when the PoS switch happened.

*Interest in the keyword "Merge" over the last 12 months. Source: Google Trends*

Ethereum's internet searches may have also gained traction due to concerns that it has become a security after the PoS upgrade. Recently, crypto platform Paxful removed support for ETH citing similar reasons.

Cardano pump brings in the fifth-highest internet queries

Cardano (ADA) has attracted 1.47 million monthly internet searches on average in 2022, becoming the fifth-most googled cryptocurrency worldwide.

The Cardano trend picked up momentum specifically in January 2022 when ADA outperformed Bitcoin and Ether in price. Later, however, searches have been declining despite the Vasil hard fork in September failing to produce a spike in interest.

*Interest in the keyword "Cardano" over the last 12 months. Source: Google Trends*

Other honorable mentions of the most-searched cryptocurrencies in 2022 include Avalanche (AVAX), Litecoin (LTC), XRP (XRP), SafeMoon (SAFEMOON), and Nexus (NXS).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum risks 35% drop by June with ETH price confirming ‘ascending triangle’ fakeout

May 2, 2022 Coin Telegraph

algo

Nearly $170 million left Ethereum-based investment funds in 2022, signaling a drop in institutional demand.

Ethereum's native token Ether (ETH) faces the possibility of a 35% price correction in Q2 as it comes closer to breaking below its "ascending triangle" pattern.

ETH price breakdown ahead?

Ether's price swung between profits and losses on May 2 while trading around $2,825, showing indecisiveness among traders about their next bias.

Interestingly, the Ethereum token wobbled in the proximity of a rising trendline that constitutes an ascending triangle pattern in conjugation with a horizontal line resistance.

To recap, ascending triangles are typically continuation patterns. That being said, Ether's price was trending lower before forming its ascending triangle, raising its chances of a breakdown in the next few weeks.

Another bearish sign comes from Ether's fake out move more than a month ago.

Notably, Ether broke above its ascending triangle on March 28 only to return to its range a week later — a fake breakout. Flipping the triangle's top to resistance, followed by a period of consistent selling, indicates strengthening bearish momentum, now nearing a breakdown moment.

*ETH/USD weekly price chart featuring 'ascending triangle' setup. Source: TradingView*

As a rule, breaking below the Triangle's lower trendline puts the downside target at a length equal to the triangle's maximum height, or the area between $1,820 (-35%) and around $2,160 (-30%), depending on the breakout point.

Institutional ETH outflows

Meanwhile, accredited investors have been withdrawing money out of Ethereum-based investment products in 2022, according to the latest CoinShares report.

In detail, about $169 million had already left Ethereum funds until April 22. In contrast, Ethereum's layer-1 competition, including Solana (SOL) and Avalanche (AVAX), alongside its rival for the top position, Bitcoin (BTC), witnessed capital inflows.

*Institutional flows (by assets) as of April 22. Source: CoinShares*

The Digital Trend, a pseudonymous analyst at Seeking Alpha, argues that investors have been repositioning their capital to gain exposure to funds associated with Ethereum's blockchain rivals, namely, Solana, Avalanche, Terra (LUNA) and Algorand (ALGO).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Ethereum is like the best and worst parts of New York: Grayscale

March 31, 2022 Coin Telegraph

Avalance

“Ethereum is like New York City: it is vast, expensive, and congested in certain areas. However, it also features the richest application ecosystem,” Grayscale wrote.

Digital asset manager Grayscale has published a report on smart contract platforms in which it likens the Ethereum (ETH) blockchain to the best and worst parts of New York City.

The report examines the granddaddy smart contract network Ethereum in comparison to newer competing blockchains such as Solana (SOL), Avalanche (AVAX), Polkadot (DOT), Cardano (ADA) and Stellar (XLM). The report comes in the wake of the firm launching a crypto fund dedicated to smart contract platforms excluding Ethereum.

In a section titled “digital cities,” Grayscale analyzed Ethereum, Avalanche and Solana. The firm compared Ethereum to the Big Apple, noting that they both share similarities with issues that arise from their stature:

“Ethereum is like New York City: it is vast, expensive, and congested in certain areas. However, it also features the richest application ecosystem, with over 500 apps that command a total value of over $100 billion—more than 10x larger than any other competing network.”

“Users and developers take comfort that Ethereum will likely continue to be the center of gravity for application innovation and liquidity due to the size of its community and the amount of capital locked into the network’s smart contracts. An L2 solution like Polygon is comparable to a skyscraper in NYC: it scales by building upwards,” the report added.

The firm went on to suggest that users moving to competing blockchains is like moving to a cheaper city due to the high gas fees and network congestion on Ethereum caused by overwhelming demand for decentralized finance (DeFi) services and nonfungbile tokens (NFTs) over the past two years.

“As Ethereum fees began to eclipse $10 per transaction, smart contract platforms like Stellar, Algorand, Solana, and Avalanche experienced strong growth in daily on-chain transaction counts,” the report read.

Grayscale described Solana as like Los Angeles, noting that it is a “structurally distinct network that is speedier and focuses on different use cases” such as on-chain order books such as Mango Markets, which requires fast transaction speeds and low fees to operate.

“Solana’s architecture relies on a different consensus mechanism that prioritizes speed and lower fees though at the cost of more centralization — rather than scaling through L2 chains Solana runs transactions through a speedy L1 chain. Running roughly 2300 transactions per second as of March 15, 2022,” the report reads.

Avalanche was compared to Chicago in that its economy is similar to NYC, but has a smaller network, “transactions are cheaper and less congested, and development is more centralized.”

“Game-specific subnets like Crabada, and partnerships with firms like Deloitte should offer more differentiation compared to apps on other chains, helping Avalanche craft a distinct identity moving forward,” Grayscale wrote.

Regardless of the comparisons, Grayscale emphasized the bullish use cases for smart contract platforms moving forward, with the firm pointing towards DeFi and the up and coming Metaverse sector in particular:

"The market opportunity for DeFi and Metaverse applications combined, in our opinion, is likely larger than the $2 trillion market cap of the entire digital assets market today.”

“Smart contract platforms are the operating layer that DeFi and Metaverse applications build on and leverage for transactions, ultimately driving value to the base chain as users accumulate native tokens for fees," the report added.

Top Crypto Trader Predicts Rallies for Avalanche (AVAX) and Solana (SOL), Says Ethereum Rivals Look Like Winners

March 21, 2022 The Daily Hodl