Users of the cryptocurrency have temporarily lost interest in the Ethereum

The second-largest cryptocurrency by market capitalization the Ethereum is going through hard times. According to Google Trends, the current draft shows the least number of queries in search engines over the past few years. In General, the coin was even more popular in 2016 at a price of only $ 20.

The popularity index of queries that scale from 1 to 100, where a unit means a lack of interest, and a hundred of his peak. In Ethereum, this figure for quite a long time stably kept at the level of 4/100. In October 2019 was little decline up to 3/100. For comparison, in June 2016 the popularity of Ethereum on the index of Google Trends was not less than 8/100, and in may 2016 — 5. The rate peaked in late 2017 or early 2018, when ETH has updated its historical record of course.

Of course, this statistic is based on users from USA, however, the global indicators are no better. According to recent reports, the interest in the Ethereum worldwide was at around 6/100 points. This also signals the decline since just a few months ago in June 2019 the popularity of the project ranged from 7 to 8 points.

Global statistics of search queries about Ethereum. Source: Google Trends

This suggests interesting conclusions about what actually users from the US is really interested in Ethereum just a few months in 2016. If you think about the reasons for such a sharp drop of interest in the second largest cryptoprocta in the world, there may be several. One lies in the lack of awareness. That is, the queries in the search engines purposefully do only those, who are interested in the fate of the project and who monitors the news, and their share in the total number of Google users is negligible.

As one of the reasons you can highlight difficulties with the recent hardforum Istanbul. According to some, a minor change led to failure of work of thousands of decentralized applications, and the number of smart contracts, which was out of gas, seriously increased. Statistics of failures of applications has grown at least four times that definitely puts the project is not in the best light. This was announced by the representative of the Digital Asset Research Lucas Nutstsi.

Statistics of popularity of Bitcoin

If you look at the indicators Bitcoin, the coin shows a linear increase (with periodic UPS and downs, of course). Now the popularity index BTC according to Google Trends is 10/100. While in 2016 this figure barely reached 3 out of 100.

The statistics of search queries about Bitcoins. Source: Google Trends

Experts suggest that it may be associated with a progressive increase in the adoption of the largest cryptocurrencies, along with the growth of its price. Particularly rapid growth of interest in the BTC observed in some African countries, including South Africa and Nigeria. Meanwhile, it seems that the Chinese do not follow the Bitcoin. But the interest in the Ethereum they have now is at the peak.

Here, however, it is necessary to make a reservation that the first Google – not the most popular search engine in China. Second, there is a high probability that the articles are translated into Chinese and the inhabitants of the country consume content through local media.

A comparison of the popularity of Bitcoin (in blue) and Ethereum (red) in the Google search engine. Source: Google Trends

In the end we can conclude that the interest of cryptocracy in the West now subsided — especially against the background of the approaching end of the year. This can be partly linked to multiple delays and the attendant problems that could undermine investor confidence project. In addition, the price of cryptocurrency has not shown any significant breakthroughs. Experience shows that the growth rate is the main requirement for the jump in popularity of cryptocurrency, so while waiting for the movements on the graph of the coin.

Regarding Bitcoin: the attention of cryptologist much more focused on the currency. It is also connected with the impending date of halving – halving of the reward miners for the creation of the block BTC. All previous halving led to a dramatic surge in prices of cryptocurrencies in six months to a year. Although it is likely that this time no growth will happen.

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