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ETH · 6w

Ethereum’s Google Search Interest Plunges 96%, Yet Developers Continue to Rise

Ethereum’s search decline is slightly worse than Bitcoin’s. Roughly 96% of search interest originating from the United States has disappeared. A glance at ETH’s developer count reveals a silver lining for Ethereum.

Nearly two years on from Ethereum’s all-time high, Google search interest for the No.1 altcoin has plunged 96%.

Ethereum Popularity Nosedives Along with the ETH Price

Search interest for the most well-known alternative to Bitcoin peaked during January 2018’s bull-run. The price of ETH topped out at just under $1,500 two years ago. Since then, both its search volume and coin price have plummeted.

A 96% drop in search Google search interest was matched by an 89% drop in the ETH coin price | Source: Google Trends

Today, Ethereum search interest stands at just 4% of its all-time high. Meanwhile, its coin price, currently in the $140 range, amounts to 11% of its former peak.

Ethereum’s price decline has tracked closely with Google search data trends. | Source: TradingView Bitcoin Hasn’t Fared Much Better

Bitcoin didn’t fare much better during the past 24 months, with a 94% decline in search interest among Google’s users. BTC’s coin price held more traction, with a 65% drop in the same time period.

Bitcoin search interest is down 94% from its peak. | Source: Google Trends

Ethereum makes for an interesting point of analysis due to its position as the second most well-known cryptocurrency. But despite the apparent loss of interest according to Google Trends, Ethereum remains the favorite cryptocurrency of blockchain developers.

Ethereum Still King Among Developers

Search trends and price action only tell part of the story. According to recent research by Electric Capital, Ethereum has four times more developers than the next largest blockchain ecosystem: Bitcoin.

Ethereum has four times as many developers as Bitcoin. | Source: Electric Capital

Analysis conducted in the autumn of this year showed Ethereum had a...

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