Apr 15, 2022 - Economy

Google searches on crypto move beyond bitcoin

Google search interest in “buy <span style="border-bottom: 2px solid #000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span>” over time
Data: Google Trends; Chart: Jacque Schrag/Axios

There's a vibe shift afoot on the blockchains. "Buy crypto" is edging out "buy bitcoin" in Google searches.

Why it matters: Bitcoin has always dominated the crypto market, but if the public is becoming more conscious that there are other options out there, it could threaten Bitcoin's hegemony.

  • "Bitcoin dominance" measures how much of the market capitalization of all cryptocurrencies is represented by bitcoin alone. Until early 2017, it was always over 90%. Now, it's around 40%.
  • "Buy crypto" first pulled ahead in early 2021. Jagger Bellagarda noted the shift at the time.
  • "Buy dogecoin" beat them both a few times in 2021, but it was fleeting.

Be smart: Google Trends doesn't reveal how much searching is going on, but how much search there is relative to other search terms.

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