Cryptocurrencies have suffered immensely in 2022 from the onslaught of a hawkish Federal Reserve and the implosions of crypto platforms FTX, Terra, Celsius Network, and others.
What were the most-searched cryptocurrencies in 2022?
Notably, the market valuation of all the cryptocurrencies combined has dropped 70% year-to-date (YTD) to nearly $770 billion, signifying massive capitulations by traders and investors alike.
The waning demand has also pushed the internet requests fo6r the keyword “buy cryptocurrency” to their lowest since February 2020, according to Google Trends.
Interest in the the keyword “buy cryptocurrency” over the past five years. Source: Google Trends
Nonetheless, the latest Accenture’s 2022 Global Consumer Payments report shows that retail interest in cryptocurrencies remains high despite 2022’s market crash. The reasons given by responders include long-term investments (28%), curiosity (22%), short-term speculation (21%), and others.
Meanwhile, separate research by personal finance portal DollarGeek dwells into 2022’s most-searched cryptocurrencies worldwide, thus presenting a rough outlook on what retail players may invest in heading into 2023.
Top 10 cryptocurrencies based on U.S. and global monthly searches. Source: DollarGeek
Bitcoin remains most-googled by far
Bitcoin (BTC) has emerged as the most googled cryptocurrency in 2022 in DollarGeek’s research, attracting 28.41 million monthly searches worldwide.
The interest remains relatively high as experts assess its quality compared to other crypto assets in the industry. For instance, venture capital investor Tim Draper thinks weaker coins will become relics amid the ongoing crypto winter to Bitcoin’s benefit.
Related: Tim Draper still positive on $250K Bitcoin price prediction in 2023
With @CNBC @WebSummit . Here is why @bitcoin will reach $250k. https://t.co/DqARhl8pAu
— Tim Draper (@TimDraper) December 16, 2022
BTC’s price is down nearly 65% YTD with some analysts predicting it would fall further toward $10,000. But internet searches over the past 12 months reveal that most people have searched for buying Bitcoin, not selling it, which suggests that most people have still never owned Bitcoin.
Interest in the keyword ‘”buy bitcoin” (red) and “sell bitcoin” (blue) over the last 12 months. Source: Google Trends
Elon Musk’s favorite Dogecoin bags the second spot
Dogecoin (DOGE) is the runner-up to Bitcoin, attracting an average of 5.85 million monthly searches worldwide in 2022.
The meme-cryptocurrency was in the news mostly due to Elon Musk who purchased Twitter and teased his followers with the idea of integrating DOGE payments for in-app payments. However, it also gained traction after getting listed on Robinhood, a U.S.-based commission-free trading platform.
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These events helped Dogecoin record temporary surges in internet searches, as shown in the Google Trends chart below. For instance, Musk’s eventual Twitter buyout in late …….