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Crypto Search Interest Soars to New Heights Amid Bitcoin’s Record High

The search query trends analyzed by Google show that inquiries about the “how to buy crypto” topic are entering new heights.

Crypto Search Interest Soars to New Heights Amid Bitcoin’s Record High

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Specifically, the query “how to buy crypto” received the highest score of 100 in recent time meaning that the interest was also at its highest. Resultantly, retail interest in cryptocurrencies is as high if not higher than it was in May 2021 when the market was dominated by NFTs. This recent increase in search is even higher than the one we have observed in early 2024 when spot Bitcoin ETFs were approved.

The increase in crypto searches is reasonable, courtesy of the new high Bitcoin has hit by crossing the $108,786 barrier. A majority of other major cryptocurrencies including Solana (SOL) and Ripple XRP have also had an uplift of a 45% and 38% respectively.


XRP and Solana Surge in Search Popularity, Signaling Potential Crypto Volatility

While last week the highly debated XRP token did search higher than Bitcoin in google trends. This comes after the cryptocurrency linked to the Ripple company hit a new high for the first time in seven years. Solana was one search term away from surpassing the popularity of Bitcoin in the searches on Sunday, with Solana getting five times more search results than Bitcoin. Now that new investors are coming into the crypto market, this sort of increase in prices can also be a signal that the market is getting kind of overheated, and again more volatility could ensue from this. Currently, the market is witnessing enchased open interests, and the total open interest in Bitcoin is about 71 billion dollars, and an almost 4% increment to that isjust in the last hour.

Disclaimer: The content provided here is for educational purposes only and is intended to raise awareness about cryptocurrency and blockchain technology. It should not be considered as financial or investment advice. Before investing in any cryptocurrency or token, we strongly encourage you to conduct thorough research, understand the associated risks, and make informed decisions (DYOR – Do Your Own Research). For detailed guidance, consult a qualified financial advisor.

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Source: CurrencyRate

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