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October 3, 2022
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Interest in Ethereum may exceed 2017 levels, as its price has exceeded $ 1,100

Internet searches and interest in Ethereum are likely to exceed levels in 2017, according to Google Trends.

Google Trends data (USA) suggests that searches for Ethereum are skyrocketing, as its price remains in the four-digit range. Rising interest is even expected to eclipse levels in 2017, when the asset pumped, driven by the ICO boom.

In 2017, ETH prices rose 9,600% from about $ 8 at the beginning of the year to $ 775 at the end of the year, before its push for its $ 1,400 ATH two weeks later.

The public sector management consultant ‘DCinvestor’Commented that this is the cycle in which Ethereum became popular, just as Bitcoin did in 2017/18.

Ethereum becoming more popular

At the end of the previous bull market, everyone knew what Bitcoin was due to its coverage in the mainstream media, making the asset a household name. The same did not happen with Ethereum, which remained largely under the radar of the masses and, definitely, of the institutions.

Move on to 2021 and things are very different. The institutions arrived, but the main retailers remained far away. The investor added that Ethereum is just beginning;

“And before everyone goes crazy and starts calling ‘this is the top sign’, acknowledge that Ethereum had only a fraction of the market knowledge that Bitcoin had in 2017.”

This is especially evident when comparing the two search terms;

It is likely that things will really heat up for Ethereum when ETH 2.0 is properly launched, which will still take at least a year. Phase 1.5 will bring the two blockchains together, and the first users who bet on the Beacon Chain long before that will reap the rewards.

At current prices, there are approximately $ 2.5 billion in Ethereum blocked in the deposit agreement. Compared to Bitcoin’s market capitalization of $ 640 billion, this is a tiny fraction, and compared to the $ 12 trillion market capitalization of gold, it is not even registered.

ETH price update

Ethereum prices are back in bullish territory after yesterday’s brief market slowdown. During today’s Asian trading session, ETH prices reached $ 1,150 again, equaling their previous high.

Another leg up may encounter resistance at $ 1,230, where previous weekly candlesticks closed in early 2018. At current levels, Ethereum is just below 22% of a new all-time high.

Source: CryptoPotato

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