Crypto

Industry Momentum For ETH Swells But Google Trends Shows Ongoing Disinterest

Cryptocurrency enthusiasts eagerly anticipate a continuation of the market reversal in late 2022. Unfortunately, there is tremendous bearish pressure to keep prices down, and it seems little will change. Even so, momentum is brewing for ETH, crypto, and NFT enthusiasts. 

Can ETH Bust A Move?

It has been an exciting week for the cryptocurrency industry. Some of the earlier established bullish momentum has evaporated completely. However, the ETH price holds its own somewhat well above $1,500, despite Bitcoin being on the cusp of going below $20,000 again. Few people expected Ethereum to stay so high, even if the push to $1,600 and beyond was more engaging. 

The bullish sentiment for ETH has increased by over 12% this week. That is significant, as it confirms more people have a positive outlook on this currency. However, the bearish sentiment increased by almost as much, which is to be expected. Any uptrend gets pushed down violently in crypto land in 2022, and this cycle is no different. 

The significant change is how ETH/BTC has evolved in favor of Ethereum. Not by much, as there is a 0.8% increase, but it is significant. Sustaining that momentum will be very difficult, but nothing is impossible. As social momentum for ETH swells, things may eventually improve. A new all-time high for ETH/BTC remains elusive, but stranger things have happened in the industry. 

All of the social momentum for ETH comes from Medium – primarily – followed by Twitter, Reddit, and YouTube. It is a multi-pronged improvement, even though the market price might remain the same. Intriguingly, there is also a 49.1% increase in shared links regarding Ethereum. That may lead to higher network activity over the coming days and weeks. 

Google Trends Shows No Change

While there may be more buzz on Crypto Twitter for ETH, the rest of the world doesn’t seem to care much. More specifically, the Google Trend for this keyword’s searches continues to drift lower and lower. It remains tricky to convince mainstream users of the importance of cryptocurrency and why these concepts matter.

Speaking of Google Trends, there is some social momentum for “crypto” and “NFT” as well. Like the “ETH” buzz, that stems from within Crypto Twitter, for the most part. Google Trends for both keywords are going downhill, with “crypto” remaining the most popular. In fact, “eth” is the least popular term, which is rather surprising. 


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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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