Web3 grows in online searches as interest in Bitcoin declines: Google Trends

By akohad Oct24,2022


The global crypto community has started to redirect its interest from Bitcoin (BTC) to Web3, according to Google search trends.

In order to keep up with decade-long innovations spanning from blockchain-based applications to nonfungible tokens (NFTs), crypto investors and enthusiasts rely on searching the web — disclosing their true sentiments in real-time. Most recently, searches for the term “Bitcoin dead” reached an all-time high, owing to peak anxiety among investors amid ongoing sell-offs at the time.

As a result of the prolonged bear market, global Google searches for Bitcoin have reached their lowest point in over a year. On the other hand, Google searches for Web3 have picked up steam and recorded an all-time high in terms of peak popularity in 2022.

Google search results for Bitcoin (top) and Web3 (down). Source: Google Trends

As shown above, the interest in Web3 stands at 72, while for Bitcoin, the number has come down to 27 — a three-times difference based on peak performance.

Taking a closer look shows that interest in Bitcoin (based on Google searches) is strongest in El Salvador, supported by communities residing in Nigeria and the Netherlands. However, China takes the number one spot in searching about Web3.

Interestingly, Nigeria is in the list of the top three countries for both Web3 and Bitcoin Google searches. Supporting local interest, the Nigerian government recently conducted early-stage talks for a crypto-friendly economic zone with crypto exchange Binance.

Related: Breaking: Google taps Coinbase to bring crypto payments to cloud services

On Oct. 11, Google added a new feature allowing users to find details about Ethereum wallet addresses.

Further research from Cointelegraph confirmed that the feature comes with limited functionality because Google is not yet able to pull up wallet details of numerous addresses.