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NFT

Google Trends Show Interest In NFT Overtook Crypto This Week

Keshav Verma
by Keshav Verma
3 years ago
·
Posted in Crypto News, NFT
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Google Trends data reveals interest in NFTs has overtaken that in crypto for the first time ever this week as the digital collectibles boom continues.

Google Trends Show Interest In Search Term “NFT” Is Now Greater Than In “Crypto”

As an analyst on Twitter pointed out, latest data from Google Trends says interest in the search term “NFT” has been going up, and has now overtaken “crypto” for the first ever this week.

Here is the data that highlights this trend between the two popular search terms:

Google Trends: NFT vs Crypto

Looks like the interest in non-fungible tokens is now greater than cryptocurrencies | Source: Google Trends

In the above graph, “interest over time” is plotted for the two search terms. This metric measures the interest relative to the peak interest for the specific time period.

The value of the “peak interest” is taken to be 100, and all other values are assigned relative to this. For example, a point on the curve with value 50 would mean that the search term was half as popular at this time as compared to the highest popularity.

Related Reading | Why Iron Man Co-Star Gwyneth Paltrow Wants To Gift You $500K In Bitcoin For The Holidays

Now, as you can see in the chart, interest around the search term “NFT” has been steadily going up since around August.

This week, for the first time ever, non-fungible tokens seem to have been more trendy than crypto as the former’s curve has overtaken that of the latter.

What Could These Trends Mean?

The crypto term slowing down could be the result of Bitcoin (as well as the market as a whole) being in mostly consolidation for a while now.

On the other hand, the NFT market has been relatively in a phase of boom for a while now so it’s only natural that interest would continue to move up.

Related Reading | Bitcoin Hashrate Down 8% From ATH, What’s Behind The Decline?

The below chart shows how the non-fungible token weekly trading volume has been quite raised since August, corroborating the increased popularity.

NFT Trading Volume

The NFT boom continues | Source: NonFungible

Another factor could also be that since crypto (and Bitcoin) have already established themselves as popular terms, there wouldn’t be as many people directly searching for terms like these. While NFTs are only just now getting mainstream exposure so there are many newcomers looking the term up.

At the time of writing, Bitcoin’s price floats around $48.5k, down 2% in the last seven days. Below is a chart that shows the trend in the coin’s value over the past five days:

Bitcoin Price Chart

BTC's price surged up a few days ago, but has since moved sideways | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, Google Trends, NonFungible.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Keshav Verma

Keshav Verma

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Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

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