Bitcoin’s interest is slowly deteriorating while the attention spans are rapidly reducing for the world of decentralized finance (DeFi) when Google trends data is anything to go by.
How it works: Each search item is assigned one a numerical value that indicates its popularity. Along with the grain of salt, Google’s data gives a rough indication of its interest in various facets of the cryptocurrency market.
By the first week of September, Google had given Bitcoin a 51/100 when it comes to popularity, comparing itself from the past year, when the Bitcoin’s price dropped in the first week of September, also the interest in the largest cryptocurrency by market cap to 41.
The interest has stuck for around that level since the price of the world’s biggest cryptocurrency thru market cap has stabilized in the past few weeks.
While in DeFi, the interest in the search term had peaked by the end of March, when the Bitcoin was at the lowest ebb this year – the price has crashed amid the uncertainty brought by the coronavirus pandemic.
The interest has plunged in the following months until the first week of September, when it has surged back to 99/100 ever since it fell to 65/100.
It is down to the DeFi explosion of the summer when the investors have given billions of dollars in the latest cryptocurrency craze in months.
Meanwhile, Bitcoin’s interest has remained relatively steady for this year; it was expected worldwide in Ethereum to be booming. And then it has increased though modestly: by 11% by the start of the year.