Web3 Popularity Grows As Interest in Bitcoin Declines

    Because of the extreme panic among investors during the continuous selloffs, the number of Google searches for the phrase "Bitcoin dead" hit an all-time high.

    According to Google search trends, the global crypto community is shifting its focus from Bitcoin to Web3. Crypto investors and enthusiasts rely on web searches, revealing their true feelings in real-time, to keep up with decade-long innovations ranging from blockchain-based applications to nonfungible tokens (NFTs). Recent spikes in interest in the phrase “Bitcoin dead” can be attributed to the extreme nervousness of investors in the face of current and ongoing market declines.

    The prolonged bear market has resulted in the lowest global Google searches for Bitcoin in over a year. However, by 2022, the number of Google searches for “Web3” will have reached an all-time high.

    When examined more closely, it becomes clear that the level of interest in Bitcoin (as measured by Google searches) is highest in El Salvador, with subsequent support coming from communities in Nigeria and the Netherlands. On the other hand, China is currently leading the pack when it comes to Web3 searches. Interestingly, Nigeria is ranked among the top three countries for Google searches about both Web3 and Bitcoin.

    Recent preliminary discussions for a cryptocurrency-friendly economic zone were held between the Nigerian government and the cryptocurrency exchange Binance. These discussions were recently held in support of the local interest.

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