Which unknown cryptocurrencies are gaining the most attention?
It’s been a turbulent time for cryptocurrency. Economic uncertainty has caused serious volatility surrounding the prices of the most established cryptocurrencies. Bitcoin’s value has fallen over 43% in the year to date (YTD), while Ethereum has followed a similar path, experiencing a 43% YTD decline too.
One of the main reasons that the values of BTC and ETH have fallen is because owners of Bitcoin and Ethereum have sought to liquidate their holdings in favour of building their cash reserves ahead of a possible recession. That doesn’t mean cryptocurrencies are any less appealing. In fact, many altcoins appear to be bucking the trend in terms of investor interest.
We recently compared data on search trends for both new and established crypto assets to see which coins appear to be gaining the most traction in terms of their price and features.
When it comes to universal interest from crypto enthusiasts, PancakeSwap coin is comfortably the most popular lesser-known crypto asset right now. Global search volume was 1.4 million for PancakeSwap (CAKE).
Note: hypothetical trading system with generates buys signals when the short-term moving average closed above the longer term moving average and generates sell signals when the short term moving average closes below the longer term moving average.
When searching for the coin price and where to buy the coin, the demand for conversion-focused searches on CAKE was significantly down by comparison.
The main reason it is garnering search volume is because of its recent launch as a new decentralised crypto exchange. Launched on the BNB Chain, PancakeSwap is a unique exchange as it’s designed to be an automated market maker (AMM), with no requirement for order books and bid-ask prices for users to fulfil their trades for one crypto asset into another.
KuCoin is the second most searched for cryptocurrency in recent weeks and it’s now the fifth largest crypto exchange in the industry. It also secured fresh funding from Wall Street to underpin its platform and expand its product offering to include non-fungible tokens (NFTs).
Which coins have gained the most interest over the last 90 days?
One cryptocurrency has stood out as the most searched for asset over the last 90 days. In Google Trends, we compared the leading crypto assets over five key search terms. The result was a comparative rank that reflects the interest in the search term – and any other relevant searches containing these terms.
XRP’s combined rating was over 70, while the second most popular coin was KuCoin (33.74) followed by Fantom (19.65). Its ongoing legal battle with the Securities and Exchange Commission (SEC) in the US remains a hot topic in the crypto space. If Ripple can prove its XRP tokens are not a security, they will win their case with the SEC, resulting in an instant surge in the price of XRP.
Note: hypothetical trading system with generates buys signals when the short-term moving average closed above the longer-term moving average and generates sell signals when the short term moving average closes below the longer term moving average.
Which prices are being searched for the most?
The price of XRP is undoubtedly the most interesting coin value throughout the crypto industry right now. Semrush positions its global search volume at 614,100 per month, compared with second-placed VeChain with 57,200 monthly searches. The SEC vs Ripple lawsuit continues, with bearish crypto traders almost certainly looking for cues to sell the price of XRP in the crypto trading markets.
Meanwhile, bullish crypto traders are keeping tabs on the case for signs of potential support and a chance for XRP to move far beyond its current price towards its all-time high of $3.37 – which would equate to a 1,000% return on investment.
What are people looking to buy?
Our research also explored the cryptocurrencies people are demonstrating intent to buy through their search engine queries. Using Semrush, we could identify that “Where to buy XRP” was the most popular search term out of all other crypto assets, with 17,600 monthly searches worldwide.
In second place, “Where to buy Binance Coin” was followed by “Where to buy Monero” in third. Both of which have 3,700 and 2,800 monthly global searches, respectively.
This significant search intent surrounding Ripple (XRP) transactions suggests there are plenty of people interested in Ripple's ongoing lawsuit with the Securities and Exchange Commission (SEC) in the US. Binance Coin (BNB) is unsurprisingly the second most popular crypto asset in terms of purchase intent, given that Binance is the world’s leading crypto exchange.
At the other end of the spectrum, Semrush's average search volume data for "price of (coin)" and "where to buy (coin)" terms revealed those crypto assets attracting the least transactional interest from users online. Huobi token (HT) is the least in-demand crypto asset from a transactional perspective, registering only 30 global searches regarding its current price and where it can be bought. Cronos coin (CRO) was not far behind, posting just 100 global searches on CRO's market value and where CRO is available to purchase.
In the main, Ripple XRP would appear to be the most searched for cryptocurrency online right now from a transactional perspective, according to Google Trends data on average global search engine interest over the 90 days to 15th August 2022. The data indicates there are also more people interested in XRP’s price – and where to buy XRP – than any other crypto asset.
Using the Google Trends data for the same timeframe, the most unknown crypto tokens based on average global search volumes are Cronos coin and Huobi Token.
Right now, PancakeSwap appears to be the most talked-about cryptocurrency project, explaining its significant search volume. However, search volume for its coin price and where to buy it was much lower at the present time.
- We collected data on average worldwide interest over 90 days (prior to 15/08/22) from Google Trends, and scaled the results to compare more than 5 search terms. The result is a comparative rank that reflects interest in the search term, and any other searches containing this.
- We sourced average search volume data from Semrush on 15/08/22, using coin names, “price of (coin)” and “where to buy (coin)”.
Not investment advice. Past Performance is not indicative of future results. Trading cryptocurrency may not be available depending on your country of residence.
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