Ethereum Price Increases as Does ETH Google Searches as Ether Community Looks for a Rally
Ethereum was one of the cryptocurrencies that suffered the most in the last weeks. Its price dropped substantially and its dominance in the market reached alarming levels. During this summer, the second most important virtual currency was not able to attract an important number of investors. And this was also worrying users on the network.
However, the trend has significantly changed in the last days. Taking a look at the most searched terms in the last days, Ethereum has taken the lead.
Bitcoin’s social dominance accounted for over 70% of the social discussions on internet. Nonetheless, that number went down to 35%. Back in July, Ethereum has just 5% of the share, and now it accounts 35% of all the discussions.
In Google Trends, Ethereum has also seen a small increase moving from 10 to 15 points (over 100). This could be related to the strong dip that the virtual currency had in the last months, which has been bigger and stronger than the one experienced by other virtual currencies.
Additionally, some articles were mentioning Ethereum as Bitcoin. However, that could have changed in the last days.
Ethereum has been used by ICOs to create their tokens and base their projects. But in the last months, several ICOs started to sell their coins in order to be able to fund their projects. Ethereum was clearly facing an important sell off without an influx of new projects to the ecosystem.
At the moment of writing this article, Bitcoin is being traded close to $6,450 dollars and Ethereum was able to recover the $200 dollars level. In the last 24 hours Bitcoin grew 1.81% and Ethereum an impressive 11.9%.