In the year marked by the Covid-19 pandemic, searches for terms of the crypto universe rose in March 2020, when the lockdown began in several places. It does not mean, however, that interest has cooled in the other months. Data from Google Trends show that it remained relatively high in some cases and, depending on the term, had even more than one peak.
The searches for “blockchain” in Brazil, for example, jumped just in the month when the lockdown began. According to Google Trends, the peak of interest occurred in March, and the numbers fluctuated throughout the year. And the place where this interest had the most significant prominence was in the Federal District.
Interestingly, when analyzing searches worldwide, the peak occurred between the end of July and the beginning of August. Besides, there was a second peak almost as strong as the first, but in early November.
Spikes in crypto search engines reflect the market scenario
As the term blockchain, another crypto universe term with high in world searches in March was the bitcoin. But there was also a peak in May. However, neither of them exceeded the searches in early November, when there was record interest in the leading cryptocurrency.
The record weeks in bitcoin searches coincided with another historic mark. At the time, the leading cryptocurrency surpassed for the first time, the US$ 330 billion in market capitalization.
The same movement is repeated when the analysis is limited to Brazil. In addition, here, among the main related queries were “bitcoin today”, “bitcoin dollar,” and “dollar” (which may suggest interest by tracking the currency valuation).
On the other hand, interest in DeFi (decentralized finance) has fluctuated throughout the year in global searches, but always with a high level. There was a substantial increase in interest in the week from March 29 to April 4, but the main peak was between August 30 and September 5. In Brazil, the peak occurred in the week of September 20-26.
The booming interest throughout the year is justified because 2020 seems to have been the year of DeFi. With platforms that need no intermediaries in operations, such as credit granting, DeFi initiatives have experienced a boom. Some even dethroned the market’s “darlings” altcoins. The success was so much that it clogged the Ethereum and raised prices to operate on this network.