Google Trends Records Falling Interest in Bitcoin and DeFi

According to Google Trends, users have become less interested in Bitcoin and the decentralized industryfinance (DeFi). Often a drop in the number of search queries correlates with a drop in prices.

Google Trends tracks the number of searchesqueries for different words, assigning each a numerical value that indicates its popularity. Google Trends data gives a rough idea of ​​the world's interest in various aspects of the cryptocurrency market.

In the first week of September, Google Trends assignedbitcoin has a 51 out of 100 rating, while in mid-May, before the halving of the mining reward, this figure was 100. When the price of bitcoin dropped in early September, user interest fell to 41.

As for DeFi, according to Google Trends,User interest and searches peaked at the end of March, when the price of bitcoin dropped to its lowest level this year. Interest dropped in the following months, although the DeFi markets grew rapidly.

However, in the first week of September, usersthey again became interested in decentralized finance and the DeFi rating rose to 99 out of 100. But as of the first half of October, this figure dropped again to 65.

As interest in Bitcoin remainsrelatively stable, one would expect that interest in Ethereum will grow, as most of the DeFi projects are based on it. It really increased, but only slightly - by 11% since the beginning of the year.

Recently, Coindesk experts analyzedGoogle Trends statistics and came to the conclusion that despite the rapid growth of decentralized finance, retail investors have shown little interest in this area compared to the ICO boom three years ago.

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