Google Search Interest for Onchain Hits All-time High
04 Jun, 2024 ● Crypto News
Google search interest in "onchain" reached a peak in May, hitting an all-time high, as reported by Google Trends.
For the last five years, global interest in the term has generally remained below 25 on a scale of 100, except for a brief rise to about 30 in March.
From May 26 to June 1, however, the search interest score for "onchain" escalated to 100.
“Once tech jargon, ‘on-chain’ is now widely known. The next step is to record everything on-chain. The learning phase is over. A new era is coming,” stated CryptoQuant CEO Ki Young Ju in a June 3 post on X.
According to the data, Nigeria has been the most engaged with the term over the last 30 days, with Afghanistan and Ethiopia also showing significant interest.
Google searches for "onchain" frequently included related terms such as “onchain token,” “onchain coin,” “onchain crypto,” and “onchain summer”—the last being a promotional slogan for Coinbase’s Ethereum layer-2 network, Base.
Jesse Pollak, the creator of Base, observed in March that "onchain" had the most positive response in consumer testing compared to other crypto-related terms.
In April, the BlackRock USD Institutional Digital Liquidity Fund became the largest treasury fund tokenized on a blockchain, managing assets of $459.9 million, surpassing Franklin Templeton, which managed $357.7 million.
In a May announcement, Ethereum layer-2 blockchain Starknet, in collaboration with AI firm Giza, disclosed plans to enable AI agents on its blockchain to autonomously carry out onchain tasks like optimizing yield and reallocating portfolios.
Shortly thereafter, GaiaNet secured $10 million for its project aimed at decentralizing AI agent software onchain.
GaiaNet plans to use a network of edge nodes, owned by individuals and companies, to host AI models, with each node acting as an AI twin performing tasks for its operator.
During May, analysts frequently used onchain metrics to forecast Bitcoin's future path.
On May 19, a crypto analyst known under the pseudonym 'ELI5 of TLDR' indicated that five out of seven onchain metrics suggest the beginning of a Bitcoin bull run.
These metrics include the Bitcoin MVRV Z score, Puell Multiple, and market dominance.
Shortly after, analysts from Glassnode hinted at a potential significant upward move for Bitcoin, based on the Supply Last Active Age Band metric, which analyzes the duration since Bitcoin was last moved on-chain, categorized by different levels of "supply last active."
Sources:
https://cointelegraph.com/news/worldwide-searches-onchain-google-all-time-high
https://trends.google.com/trends/explore?date=today%205-y&q=onchain&hl=en-GB
