The enthusiasm surrounding the Ethereum is far from disappearing, as Google Trends reveals that the number of searches is increasing
Ethereum’s recent – impressive – performance has been reflected by an increase in Google searches that are fast approaching levels not seen since 2018.
Cryptomoeda’s popularity on the Internet has reached an annual peak in the United States, thanks to searches in California, New York and Washington.
The situation is no different in other regions of the world. This tremendous growth in November has already surpassed the levels recorded in the last two years. The four main cities with the highest density of these Google searches are San Francisco, Singapore, Toronto and Vienna.
It is not surprising that interest in the Ethereum is growing
There are some factors that may be driving the increase. To start with, Ethereum prices have been skyrocketing lately, which may explain the trend observed on Google. Bitcoin Victory like Ethereum prices are up and closing at levels last recorded in 2018.
The growing interest in Ethereum on Google may also be a result of the growing exaggeration after the adoption of institutional customers. The global payment services company PayPal has recently confirmed support for cryptomoeda, including Ethereum on its platform.
The upcoming launch of Ethereum 2.0 may be another reason for the increase in popularity. Ethereum 2.0 is arguably the hottest crypto-verse topic at the moment. The long-awaited update is scheduled to be released on December 1st.
Does the interest affect the price of cryptomeda?
The question of $64 million at the moment is whether the increase in interest impacts the price of ETH or whether it is merely a coincidence.
There is no solid argument to explain the relationship between the two factors. However, the figures presented give the impression that there is at least some correlation. In the past, an increase in price used to align with an increase in Google searches and vice versa.
That said, it is almost impossible to make a concrete comparison at this stage. It is not yet clear whether the increase in interest is the cause or the effect of the upward trend.