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Google Trends reflect crypto anxieties – and a glimmer of hope


Also, New York is a crypto trendsetter, while Nevada is obsessed with Bitcoin, according to an analysis of crypto-related Google search trends.

From the Luna cryptocurrency's implosion to the spectacular collapse of the FTX exchange, it has been a tumultuous year for the crypto community. What people searched on Google reflected that, according to a study by CoinLedger, a cryptocurrency tax software provider.

It found FOMO, or the fear of missing out, was the crypto buzzword of the year, appearing as a number one search trend in 16 different states and a dominating term in three others. The term has grown in popularity in the crypto community to describe irrational investment.

FOMO is followed by "mooning" – or a significant upward market trend in crypto – and FUD, which stands for fear, uncertainty, and doubt.

"It is curious to see the most trending crypto slang of 2022 as a response to major crypto events this year," the report said.

fomo

Crypto anxieties are further reflected in terms that saw the biggest growth in 2022 when compared to 2021. DYOR, or do your own research, leads the chart, having grown 222% yearly.

It is followed by WAGMI, or we are all gonna make it, which has grown by 147% and reflects the current melancholy crypto state but also hopes for a better future.

"Taking into account the search interest of the term 'crypto whale' decreased by 13%, it's clearly seen that crypto winter leads to the maturation of the crypto market in the US," CoinLedger said.

dyor

The fall of FTX was the most impactful crypto collapse of the year, according to the analysis, with the highest recorded average search interest. It has driven the search interest of the whole crypto industry by 3.6 points, which is equal to other crypto collapses of the year combined, it said.

According to CoinLedger, Dash was the most trending cryptocurrency of 2022 in the US, followed by ICP and Matic.

Libertarian computer programmer John McAfee dwarfed all others as the most googled crypto influencer in the US this year, appearing as a top search trend in 43 states. Billionaire Elon Musk was a distant second, followed by Cobie, host of the crypto-focused podcast Up Only, and Charlie Lee, creator of Litecoin.

mcafee_1223

New York is a crypto trendsetter in the US, with 26 crypto trends first appearing there and then spreading to other states. Second-place California has 25, followed by the District of Columbia with 18.

According to the study, New York was also the most Ethereum-obsessed state in 2022, while Bitcoin was the most googled cryptocurrency in Nevada, where interest soared after it slumped over 35% in a single week in June.


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