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Key highlights:

  • Data provided by Google Trends indicates that retail interest for cryptocurrencies has finally woken up
  • During the recent crypto bull run, the search interest for Bitcoin reached 69% of its peak in December 12, while the search interest for Ethereum reached its all-time high
  • The Coinbase app reached the second place on the list of trending apps in the Google Play Store last week

Retail investors are finally waking up to the crypto bull run

As we all know it, 2020 was marked by a significant growth of the institutional interest for Bitcoin. According to the data provided by the asset manager CoinShares, investors have poured over $5.6 billion into cryptocurrency funds and products over the course of the last year, an increase of over 600% compared to inflows recorded in 2019.

Furthermore, a significant percentage of the inflows originated from institutional investors, with companies like MicroStrategy and Square dominating the list of largest institutional crypto investors. Nevertheless, Google search trends and the increased popularity of various crypto on-ramp applications point to the fact that the recent bull run that resulted in Bitcoin skyrocketing through the $40,000 mark has finally sparked the interest of retail investors.

Google search interest for Ethereum is at an all-time high

According to data accessible on Google Trends, the search interest for Bitcoin reached 69% of what we saw during the bull run of December 2017. Data also suggests that people are searching Ethereum even more than they did in December 2017 as the search interest for the second largest cryptocurrency project is currently at its all-time high. In addition, partial data for this week indicates that Bitcoin’s price readjustment has cooled down the retail Bitcoin fever, while the interest for Ethereum continues to grow.

Worldwide Google Web search interests for the search terms »Bitcoin« (blue) and »Ethereum« (red) over the period of the last 5 years. Image source: Google Trends

PayPal And Coinbase App on the top of Google Play Store’s Trending List

Last week, the list of top trading applications available on Google Play Store was dominated by PayPal and cryptocurrency exchange platforms. During the time that Bitcoin traded above $40,000, PayPal was #1 on the trending chart, followed by the Coinbase application on the second place and the Binance app on the fourth. It has to be noted that Coinbase is one of the go-to platforms for cryptocurrency newcomers due to the simplicity of the crypto purchase process.

Even today, the Coinbase app remains #21 on the list of Top Free Apps in Google Playstore. In addition, PayPal also offers cryptocurrency buying, selling and holding features in some countries. Similar trends in the number of downloads of the aforementioned applications could be observed in Apple’s App Store. 



Back link Search and App Download Data Indicate That the Retail Interest for Bitcoin and Ethereum Has Finally Woken Up | CoinCodex https://cloudtokenplus.com https://cloudtokenplus.com

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