The Google trends data for the popular search terms in 15 countries showed that “Ethereum” searches outscored “Bitcoin” in 14 of them.
The crypto market crash in April saw most cryptocurrencies lose 60% of their valuation from the highest, resulting in an overall downswing in commerce activity, capitalist interest and capital investment. A recent study has highlighted nations’ growing curiosity and interest in crypto after the April crash.
The analysis was supported Google Trends information of standard crypto search terms that always replicate enhanced interest within the crypto market. The search history of every nation was then compiled to convey an overall search score. The countries at the highest of the list seem to be most eager to buy the dip.
The analysis highlighted a major rise in curiosity among Nigerians once the crypto market downswing in April. The Nigerian population searched the term “cryptocurrency,” “invest in crypto” and “buy crypto” the foremost among the fifteen countries that were a part of the analysis and had a complete search score of 370.
The following 2 Google trend charts show the data for “invest in crypto” searches in Nigeria compared to the globe. The search density for the term has seen similar interest rates once the April downfall in African nation, whereas the worldwide search density has seen a continuing decline as compared.
Nigeria’s growing interest in crypto is fueled by inadequate money services within the country, one thing that has been a key reason for crypto adoption across Africa. In Apr, nearly 17.36 million, or 52% of Nigerian crypto investors, have allotted over half of their assets to cryptocurrencies. Nigerians started using crypto as a viable alternative to store and transfer assets.
( Prashant Jha, Cointelegraph, 2022 )