A study by personal finance portal DollarGeek has revealed the most sought-after cryptocurrencies worldwide in 2022. Ethereum competitors such as AVAX and ADA are also on the list.
Here are the top five most searched cryptocurrencies on Google in 2022
Notably, the total value of the cryptocurrency market fell by 70% year-to-date (YTD) to approximately $770 billion. This means that both the trader and investor class are selling big. Declining demand has brought internet requests for the keyword “buy cryptocurrency” to the lowest level since February 2020, according to Google Trends.
However, the latest Accenture’s Global Consumer Payments 2022 report shows that despite the market crash in 2022, individual investor interest in cryptocurrencies remains high. Long-term investment (28%), curiosity (22%), short-term speculation (21%) were the reasons that attracted investors to the market.
Listed on AVAX and ADA
Meanwhile, a separate study by personal finance portal DollarGeek focuses on 2022’s most sought-after cryptocurrencies worldwide. Thus, it provides a rough view of what individual investors can invest towards 2023.
Bitcoin remains by far the most searched on Google
Bitcoin emerged as the most searched cryptocurrency on Google in 2022 in DollarGeek’s research. It attracted 28.41 million monthly searches worldwide. Interest remains relatively high as experts rate its quality compared to other crypto assets in the industry. For example, venture capital investor Tim Draper thinks that weak cryptocurrencies that benefit Bitcoin in the midst of the ongoing crypto winter will become a relic. The US investor still keeps the 6-digit price targets up to date.
With @CNBC @WebSummit . Here is why @bitcoin will reach $250k. https://t.co/DqARhl8pAu
— Tim Draper (@TimDraper) December 16, 2022
The price of BTC has dropped by about 65% with some analysts predicting it will drop to $10,000. But internet searches over the past 12 months show that most people are searching to buy Bitcoin. This means that most people still don’t own Bitcoin.
Elon Musk’s favorite Dogecoin takes second place
Dogecoin is second only to Bitcoin, attracting an average of 5.85 million monthly searches worldwide in 2022. Meme-coin was in the news mostly with Twitter news. However, it rose thanks to Elon Musk, who came up with the idea of integrating DOGE payments into the platform. It also gained attention after being listed on the US-based crypto exchange Robinhood.
These events helped Dogecoin record temporary spikes in internet searches as shown in the Google Trends chart below. For example, Musk’s eventual acquisition of Twitter in late October. This news coincides with the time Dogecoin peaked in searches.
So, while DOGE’s price is down roughly 55%, internet search data shows that, similar to Bitcoin, the pool of potential buyers could be relatively higher than sellers.
Shiba Inu surpasses AVAX and Dogecoin
Shiba’s monthly internet searches reached 4.43 million worldwide. Still, it outpaced Dogecoin with 1.29 million monthly searches versus DOGE’s 729,000 searches. This superiority comes despite Shiba Inu’s poorer price performance compared to Dogecoin in 2022. SHIB fell roughly 75% in 2022. However, it is on the agenda due to its entry into the metaverse and the potential launch of Shibarium.
Internet searches for the Shiba Inu also increased, thanks to Crypto.com, a crypto exchange with the largest SHIB position as of November 2022. The market feared that Crypto.com would go bankrupt, causing it to sell its SHIB reserves.
Merge helps Ethereum secure fourth position
Ethereum was the fourth most Googled cryptocurrency worldwide, with 3.84 million monthly searches in 2022. It completed an important phase of its transition from PoW to PoS in September. In particular, interest in the keyword “Ethereum” and related terms like “Ethereum 2.0” and “Merge” peaked in September when the PoS transition took place.
Internet searches of Ethereum may have gained traction due to concerns that it has become a security after the PoS upgrade. Recently, crypto platform Paxful removed support for ETH for similar reasons. cryptocoin.comWe have included the details of the development in this article.
Cardano ranks fifth in Google trends
ADA reached the fifth position with an average of 1.47 million internet searches per month in 2022. The Cardano trend gained momentum especially in January 2022 when ADA outperformed Bitcoin and Ether. But then, calls are falling, despite the Vasil hard fork in September failing to generate a surge in interest.
Other honorable mentions of the most wanted cryptocurrencies in 2022 include Avalanche (AVAX). Litecoin, Safemoon, and Nexus were other most sought-after altcoin projects.
