In March 2022, interest in cryptocurrency fell to fresh all-time lows in the United States. The data from Google Trends reveals that citizens of the United States’ interest in cryptocurrencies has decreased in 2022.
The quantity of search interests in cryptocurrencies over time is expressed as a percentage of a point ranging from 0 to 100. This means that a score of 0 indicates almost no interest, while a value of 100 indicates that cryptocurrencies dominate inhabitants’ search behaviors in the United States.
In May 2021, the word ‘cryptocurrencies’ reached a value of 100. Several cryptocurrencies hit new all-time highs during this time period.
Source : Google Trends
ETH, the native asset of the Ethereum network, which crossed $4,000 for the first time, was the second-largest cryptocurrency by market capitalization. On May 12, 2021, ETH reached a monthly high of $4,362.35.
So, In May 2021, the trading volume of Ethereum (ETH) reached at $1.51 trillion. During the same time period, Bitcoin (BTC), the largest digital currency by market capitalization, saw impressive trade volumes of $1.97 trillion.
The decline in trading volume, which has been reflected in market prices. That’s, mostly due to declining interest in cryptocurrencies in 2022.
Then, In January 2021, the trading volume of Bitcoin was estimated to be at $2.15 trillion. In February 2021, this grew by 5% to nearly $2.26 trillion. So, This has a beneficial impact on Bitcoin’s price. BTC started at $28,994.01 on Jan. 1, 2021, and reached $45,137.77 on Feb. 28, 2021, a 55 percent gain in value in just two months.
Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.