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April 2024 Bitcoin Halving Sparks Worldwide Curiosity, Data Reveals

April 2024 Bitcoin Halving Sparks Worldwide Curiosity, Data RevealsA recent study focusing on the search term “bitcoin” through Google Trends data revealed that curiosity remained subdued even as the price soared above the $50K mark. Yet, anticipation for the forthcoming reward halving has hit a 90-day peak. Slated for April 2024, this significant occasion will slash the pace at which new bitcoins are […]

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Bitcoin Soars Above $52K, Yet Public Interest Shows Decline, Google Trends Data Reveals

Bitcoin Soars Above K, Yet Public Interest Shows Decline, Google Trends Data RevealsAs bitcoin’s value surged to $52,545 this week, the fascination with it appears subdued, with Google Trends indicating a low level of interest. Currently, global metrics from the last 90 days reveal the search term “bitcoin” holds a score of 36 out of 100, significantly less than when bitcoin first exceeded the $50K threshold nearly […]

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Google searches for ‘crypto’ fall to 2020 levels as BTC sentiment neutral

With a score of 17 out of 100, online interest in crypto has taken a big hit from its highest levels reached in May 2021.

A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels.

According to data from Google Trends, the term “crypto” currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin (BTC) and Ethereum have followed a similar downward trajectory.

However, search interest for these terms has been in a relatively consistent decline since May 2022, about a month after much of the Terra Luna ecosystem collapsed. A small spike in interest came in early November when the crypto exchange FTX collapsed.

Search interest over time for the word "crypto" Source: Google Trends

The fall in interest comes as Bitcoin has held steady at around $28,000 for 10 weeks now — price action that Galaxy Digital CEO Mike Novogratz recently described as “lackadaisical” and caused by a lack of “institutional excitement right now.”

Guy Turner, commonly known as “Coin Bureau Guy,” suggested in a June 4 Twitter post that the fall in interest also coincides with lower trading volumes on exchanges, which he claims to have reached a 32-month low last month:

Alternative’s Crypto Fear & Greed Index tells a similar story too, with market sentiment hovering around its current score of 53 — in the “Neutral” zone — for nearly a month now.

Fear & Greed Index measuring changes in sentiment in the crypto market. Source: Alternative.me

Interest hasn’t dipped in every domain of crypto though.

Search volumes for “decentralized finance” and “defi” have managed to increase in 2023, while searches for “memecoin” reached a peak in early May.

Related: Institutions ‘extremely interested’ in crypto ETFs, but buying has cooled: Survey

Nigeria currently holds the highest score for most crypto-related searches, while many of the lowest scores come from South American countries.

On the other hand, search interest for artificial intelligence continues to skyrocket, which many believe is the latest “tech fad.”

Magazine: Crypto winter can take a toll on hodlers’ mental health

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AI trends at all-time high on Google but Bitcoin still did it better

Google Trends data reveals that even though AI is the talk of the town, it still pales in comparison to Bitcoin in 2017. In China, it's a completely different story.

Global search interest for the term “AI” has reached a new all-time high on Google, though it’s yet to hold a candle to Bitcoin (BTC) peak mania in 2017, data has revealed.

Artificial intelligence has dominated headlines over the past few months, with some suggesting that it’s the latest “tech fad” after crypto and the Metaverse.

Most recently, OpenAI executives warned in a May 23 blog post that within the next ten years, AI will exceed expert skill level in “most domains” and be as productive as “one of today’s largest corporations.”

However while global and United States search interest for AI has reached a fever pitch — clocking in at 89 on Google Trends, it is still shy of Bitcoin’s peak search interest of 100 in December 2017 when Bitcoin was nearing its then-high of $20,000.

Comparing search trends for buzz words, "AI, "metaverse," and "Bitcoin" over a ten-year-period in the United States. Source: Google Trends

Mark Schilsky, an Alliance Bernstein technology specialist noted on May 31 that AI was “still far below the absolute hype of Bitcoin,” according to a report from Business Insider. His analysis was specifically focused on U.S. search trends. 

Schilisky compared the three “buzziest segments of the tech industry” over the past ten years, “AI”, “metaverse”, and Bitcoin,” to reveal that the peak of search volume for “Bitcoin” is higher than the peak of search volume for AI so far.

China says Bitcoin who? 

The results, however, vastly differ in China, where cryptocurrency is banned and Google search is restricted. The country favors Baidu as its search engine.

According to Google Trends, China’s Google users have consistently had more search interest for AI compared to Bitcoin on a monthly basis since May 2013.

Comparing search trends for buzz words "AI," "metaverse," and "Bitcoin" in China. Source: Google Trends

Throughout the last decade, there were only three instances in which Bitcoin surpassed AI searches in China, which line up with significant Bitcoin-related events.

In November 2013, Bitcoin surpassed AI as a search time in China for the first time, coinciding with it reaching its highest-ever level of $300 on the now-defunct cryptocurrency exchange Mt. Gox.

In December 2017, Bitcoin once again took the lead in search interest, which was when Bitcoin hit all-time highs of $17,249.92 at the time.

The third and most recent occurrence took place in February 2021, as Bitcoin soared above $43,000 following the news that Tesla had bought $1.5 billion worth of Bitcoin, and its decision to start accepting Bitcoin payments.

The country banned cryptocurrencies in 2021, and shortly after it was reported by Cointelegraph’s staff in China that online searches for several major cryptocurrency exchanges were returning zero results.

Related: Australia asks if ‘high-risk’ AI should be banned in surprise consultation

Meanwhile, China has seen searches for “AI” hit their all-time high of 100 in April 2023. Today, the search score is around 94.

In May, Flytek, a state-sponsored Chinese AI company, announced it is launching “Spark Model” an AI system designed to compete directly with OpenAI’s ChatGPT.

Chinese officials recently discussed the need for “dedicated efforts to safeguard political security and improve the security governance of internet data and artificial intelligence,” during a meeting on May 30. According to a local media outlet it was stated:

“We must be prepared for worst-case and extreme scenarios and be ready to withstand the major test of high winds, choppy waters and even dangerous storms.”

Magazine: Make 500% from ChatGPT stock tips? Bard leans left, $100M AI memecoin: AI Eye

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US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls

US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company CallsRecent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is […]

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Google Trends Shows Surge in How to Buy Gold and Bitcoin Searches Amidst US Banking Upheaval

Google Trends Shows Surge in How to Buy Gold and Bitcoin Searches Amidst US Banking UpheavalIn the midst of the banking upheaval in the United States, Google Trends has revealed a notable surge in searches related to the acquisition of gold, with the search query reaching a perfect score of 100 during the first week of April 2023. Similarly, the search term “how to buy bitcoin” reached the same score […]

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Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes

Crypto AI Economy Suffers 0 Million Loss in 2 Months as Interest WanesLess than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent AI-driven crypto projects have all suffered double-digit losses, ranging from 10% […]

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Google Trends Data Shows Bitcoin Search Interest Surged This Week Amid 10-Month Price High

Google Trends Data Shows Bitcoin Search Interest Surged This Week Amid 10-Month Price HighAccording to worldwide data from Google Trends, the search term “bitcoin” has reached a score of 93 out of 100 in the last seven days. Additionally, the price of bitcoin rose above the $30,000 range for the first time in ten months, or since June 2022. Bitcoin Search Interest Rises as Leading Crypto Asset Taps […]

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Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ SkyrocketInterest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends […]

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Nifty News: Yuga Labs jumps on Ordinals hype, Dookey Dash key sells for 1,000 ETH and more…

Google Trends data shows interest in NFTs has waned, even as trading volumes are surging, while Korean multinational giant Lotte has partnered with Polygon.

Bored Ape Yacht Club (BAYC) creators Yuga Labs has announced a new NFT collection on Bitcoin dubbed “TwelveFold.”

The move was announced via Twitter on Feb. 28, with Yuga Labs unveiling 300 tokenized computer generated artworks as part of the TwelveFold collection that will go up for auction later this week.

In an accompanying blog post, Yuga Labs explained the concept behind the collection is based on mathematics, time and the Bitcoin blockchain.

“TwelveFold is a base 12 art system localized around a 12x12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain,” the post reads, adding that:

“Satoshis are the smallest individually identifiable units of a Bitcoin. An inscribed satoshi can be located by tracking when that satoshi was minted in time via the Ordinal Theory protocol.”

“Inspired by this, our collection explores the relationship between time, mathematics, and variability,” it explained.

TwelveFold NFT: Yuga Labs

Yuga Labs cited the recent buzz around Bitcoin NFTs, or Ordinals, as the reason why it chose to drop a collection on the network.

“Stepping into the Ordinals Discord a month ago felt like getting a glimpse of the 2017-era Ethereum NFT ecosystem. It’s the type of energy and excitement we love at Yuga,” the firm stated.

Search down, trading up

According to Google Trend data, search interest for NFTs has fallen to levels not seen since early 2021 — before the NFT boom — suggesting interest could be waning for nonfungible tokens.

NFT trading volume data from February however, suggests otherwise.

Google Trends uses a metric of 0-100 to display interest in various keywords that people look up in its search engine. Between Feb. 19 and Feb. 25, the keyword “NFTs” scored a mere seven out of 100.

Such levels haven’t been seen since early-to-mid January 2021, while it has been a steep decline since the all-time high of 100 between Jan. 23 and Jan. 29, 2022.

"NFTs" search interest: Google Trends

NFT trading volume in February paints a different picture however.

According to data from CryptoSlam, there has been $997.14 million worth of global NFT sales for the month, following on from the $1 billion posted in January.

These levels bring the NFT market back to that of June 2022 and its $982 million worth of sales, before dipping to a low of $460 million in October 2022. 

More recently, sales volume has been on a significant incline, with the launch of the trader-friendly marketplace Blur being a key contributor behind this.

Twitch streamer sells Dookey Dash key for 1,000 ETH

The man who won the Golden Key NFT for posting the highest score on the BAYC-affiliated Dookey Dash game has sold the token for 1,000 Ether (ETH), or roughly $1.63 million.

Twitch streamer Kyle Jackson, also known by his pseudonym Mongraal online, initially received the key on Feb. 16 after notching a hefty 928,522 points during the Dookey Dash competition hosted by Yuga Labs.

Wasting no time, Mongraal announced on Feb. 27, that he had agreed to sell the key to Adam Weitsman, BAYC NFT hodler and CEO of scrap metal shredding company Upstate Shredding.

The Golden Key is bound to unlock something special from Yuga Labs, however, the specific details have not yet been revealed.

Polygon pens another major partnership

Polygon Foundation, the non-profit organization behind Ethereum-layer 2 scaling network Polygon, has partnered with South Korean multinational conglomerate Lotte Group to host the firm’s NFT projects.

According to a Feb. 27 announcement from Lotte’s marketing and NFT hub, Daehong Communications, the partnership will see Lotte’s avatar-based NFT project BellyGom ported over to Polygon from the Klatyn network.

The project will be rebranded as BellyGom season 2, and the NFTs offer hodlers benefits relating to Lotte’s product and service lines such as shopping discount coupons and hotel vouchers. New additionally benefits have been teased moving forward, but details were sparse in the announcement.

Lotte has nearly 100 different business units across areas such as fast food, candy manufacturing, electronics and hotels. As of September 2022, the firm is estimated to have around $15 billion worth of assets on its balance sheet.

Looking more broadly, the firm has outlined intentions to develop its Web3 initiatives in partnership with Polygon, as Lotte looks to expand its NFTs to a global audience and develop “a new NFT business model rather than simply issuing NFTs.”

Related: Blur runs after OpenSea market share, but its success depends on upcoming governance proposals

The move adds to Polygon’s growing list of partnerships with major brands such as Startbucks, Adidas, Adobe and Prada.

Other Nifty News

According to a survey from metaverse platform, Metajuice, almost three out of four of the NFT collectors on its platform purchase NFTs for status, uniqueness and aesthetics.On the other hand, 13% percent of the survey participants said that they are buying NFTs to resell them in the future.

A group of well-known Japanese tech companies agreed on Feb. 27 to forward the creation of the “Japan Metaverse Economic Zone. Along with creating the Japan Metaverse Economic Zone, the agreement focuses on building an open metaverse infrastructure called “Ryugukoku,” which will spark the next wave of metaverse development.

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