The global crypto community’s interest seems to have shifted to Web 3.0, according to Google Trends, a service that trawls data from the world’s biggest search engine, Google. Searches for Web 3.0 on Google touched an all-time high in terms of peak popularity in 2022.
Interest in Bitcoin, on the other hand, fell to 27—a three-time drop based on peak performance. Global Google searches for Bitcoin reached their lowest point in over a year. Additionally, Google Trends shows that the number of searches for “Bitcoin dead” reached an all-time high.
Google made the search history revelation amid the ongoing crypto market turndown. While the drop in search volume for Bitcoin could be attributed to the crypto giant becoming part of the mainstream investment vocabulary, the impact of the prolonged bear market cannot be overlooked.
The blockchain industry and its underlying technology are still in a nascent stage. To keep up with the terminologies surrounding the growing technology behind digital assets, crypto investors and enthusiasts turn to the Web through search engines like Google. Their Google search histories, therefore, is a mark of real-time investor interest.
Like Bitcoin, the term NFT too has become less popular. It was one of the most searched words on Google last year. It was so popular that it even became Collins dictionary’s word of the year. The popularity of NFTs seems to have taken the backseat since the first quarter of 2022.
Country-wise Google Trends data reveals that El Salvador, the first country to make Bitcoin into a legal tender, remains the strongest supporter of the crypto titan. Other pro-Bitcoin countries include Nigeria and the Netherlands. Nigeria made it to the list of the top three countries for Web 3.0 and Bitcoin searches. The country is currently engaged in talks with crypto exchange Binance about creating a crypto-friendly economic zone.
China takes the number one spot as far as Web 3.0 searches go.
While India didn’t make it to the top three list, the country has emerged as a leading global player in the Web 3.0 market, according to a new report by Nasscom. Besides, Web 3.0 is projected to contribute $1.1 trillion to India’s GDP by 2032.