Interest in Buying Crypto Has Never been This High
People are just as interested in searching for “how to buy crypto” and DeFi as per Google Trends.
The cryptocurrency fever is spreading, as we have seen since last year. But in 2021, it is only getting hotter and hotter.
Besides the new user-ups, traffic, and increasing volumes on cryptocurrency exchanges, the search interest for the related terms on Google has been taking a shot to the moon as well.
Interest in the search term “buy crypto” has climbed to its highest level ever worldwide. In the US, while people are searching to ‘buy crypto’ at never seen before levels, during the last bull run, it only had a reading of 38 compared to 75, on a scale of 0-100, in the first week of 2018 worldwide.
Relative search interest for the term "Buy Crypto" is at all-time high on Google Trends 👀 pic.twitter.com/4cFIkI0xbp
— The TIE (@TheTIEIO) February 1, 2021
People are just as interested in knowing “how to buy crypto,” which started seeing a small uptick in November only to gain momentum this year, going from a reading of 15 at the beginning of the year to now 100.
During the last bull run, the interest wasn’t even half what we see this time, at least in the US.
Not to mention, people on TikTok still haven’t lost their interest in sending altcoins like DOGE to the moon, to $1, while the coin has already lost more than 60% of its value since the pump last week to above $0.08.
— TikTok Investors (@TikTokInvestors) February 1, 2021
Interest in the term “DeFi” has also beaten the 2020 summer levels on Google Trends in the US and is ready to do so worldwide.
Price-wise, DeFi is the one that is stealing the show yet again, which has the total value locked rising to above $27 billion.
Sushiswap (SUSHI) has actually rallied 30%, while Uniswap (UNI) also gained over 10%. However, despite the latest surge, the top two DEXs continue to trade at relatively low price multiples compared to their peers.
Uniswap is currently trading at 18x based on price/sales ratio, with annualized revenue of over $1 billion, while Sushiswap is trading at a mere 7x, with an annualized revenue of $ 430 million.
In 2020, so far, the notable gainers include COVER (6,151%), ALPHA (837%), BADGER (533%), CREAM (344%), 1INCH (319%), CRV (311%), UNI (297%), and AAVE (221%).