There are now less searches for ethereum on Google than during some weeks of 2016 when its price was just $20 at the then peak.
According to Google Trends, ethereum searches have remained somewhat stable at 4 out of 100 except for a brief blip in October to 3 for USA as pictured above.
That’s less than the 8 it reached in June 2016, or the 5 in May 2016 and the current 4 is same as in April 2016.
Worldwide there’s a bit more interest at a stable 6 out of 100, but again that’s less than in June 2016 when it was at 7 and 8.
It’s only that month, however, that is above current levels for worldwide interest. Unlike in USA where they cared more about ethereum than now for some three months three years ago.
One reason for that might be they now know what ethereum is, but if they’re looking for news or if they’re researching something they might search for it still.
So making this a proxy indicator of sorts especially as the above chart does mirror the price with it unclear whether it is a lagging indicator or otherwise.
For bitcoin the story is a bit different in that no month in 2016 gets anywhere near the current level of circa 10 out of 100 as back then it was at 2 or 3.
Meaning bitcoin’s adoption has considerably increased in line with its price which has managed to retain value far better than any other major crypto.
From above we can see Nigeria and South Africa are showing considerable interest, while China apparently doesn’t care at all while it’s in top 2 for eth.
That could be explained by China having its own crypto media, but they do for eth too. So it may be bitcoin raw resources, like explanations of multi-sig and the like, have been translated while ethereum’s smart contracts tutorials maybe have not yet.
One final point to make is these numbers, like 10 out of 100, are specific to bitcoin’s own peak. So the current 6 for ethereum is very different than the 10 for bitcoin as is shown when the two are compared:
It used to be the above map had plenty of red, but now it’s all blue, with the 10:1 distribution reflecting their market share of bitcoin having circa 10x more value than eth.
More interesting here may be the countries mentioned. There’s clearly a bitcoin boom of sorts in Nigeria, but Indonesia maybe has been overlooked a bit.
It appears they’re only starting to learn about it at a noticeable level, with this a fairly rich country that has a GDP of about $1 trillion.
Brazil’s economy is a bit bigger at nearly $2 trillion, with their second position there far too interesting because the entrance of Latin America to the crypto map is one big theme of 2019.
Thus that Colombia makes it too is not surprising, not least because they’re kind of becoming the money changers of Venezuela.
The data so telling two stories. Wealthy west has largely tuned off, waiting perhaps to be woken up maybe by the bitcoin halvening or whatever comes next.
While the global south is in what metaphorically can be called in a whispering mode. The ‘what is this bitcoin’ stage.
While China has gone underground. Walling itself off from the new world as comrades stand terrified of losing their grip on authoritarian power.
And then the bigger story to bind them all: e puo si muove. That is, while it looks like nothing is happening, bitcoin is moving.