2022 is almost over. What topics have kept the crypto sphere busy this year? I analyzed the trends of 18 popular search terms to find out.
All data comes from Google Trends.
The following charts do not show the actual search volume but reflect the frequency with which certain terms were searched for. The higher the value, the more frequently the term was searched for in the period shown. For example, 100 means the search interest is at the highest.
As a reference, for each chart, I added annotations showing when the two major price crashes in May and June happened and when the news about the FTX collapse came out.
Looking at the first 6 search terms, we can see that the general trend was going down as the year progressed. This is understandable as in a bear market general interest cools.
- However, we can see notable spikes when the two price crashes and when the FTX collapse happened.
- What surprised me the most here was the simultaneous higher search interest for the term Crypto wallet. I suppose it has to do with the fact that more people wanted to take their holdings to safety.
This picture changes when we look at the next 6 search terms.
- DeFi didn’t show any changes when the crashes happened. Instead, overall search interest just went down and then leveled off.
- The Ethereum merge was a one-off event with surprisingly little interest during the run up.
- Fed is a cyclical term that is of greater interest whenever the Fed has meetings on rate hikes.
- Unsurprisingly, the other terms show a high overlap with the 3 crashes.
Let’s look at the last 6 search terms now.
- For MetaMask I expected a higher spike when the news came out that they were collecting users’ IP and wallet addresses. However, this didn’t really have any impact.
- The term NFT shows an interesting uptick at the very end of the year. I don’t know why, though.
- Worries about the Recession seem to have peaked in the summer.
- A lot of people were looking up the term Stablecoin when the LUNA/UST crash happened in May. I suppose that’s because a lot of people wanted to find out whether stablecoins are reliable.
- The term Staking peaked when the Ethereum merge happened. However, overall search interest still is decent.
All Comments