Monero is on the rise on Google Trends again
Monero is on the rise on Google Trends again
Crypto

Monero is on the rise on Google Trends again

By Marco Cavicchioli - 21 Oct 2020

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Interest in the Monero crypto fluctuates considerably over the course of time on Google Trends. 

Being one of the most famous cryptocurrencies with a high level of privacy, interest in it grows especially when tighter controls on the use of money are announced. 

In recent times, for example, there has been increasing talk about reducing the use of cash, and about Central Bank Digital Currencies (CBDCs), which are topics closely linked to a probable future increase in controls on the use of money.

It is no coincidence that this generally leads to an increase in interest in Monero, which can be found on Google Trends. 

Moreover, although the value of XMR has a significant impact in terms of interest in it, this happens at a global level, whereas fears of increased controls have a greater impact at a local level. 

Monero coin on Google Trends

Comparing the chart of the last 12 months on Google Trends in the US, UK and France, for example, the differences are very striking.

As far as price is concerned, the most interesting price increases took place in February, August and October, while the highest search peak in the US took place in September. 

Therefore, if on one hand, the three increases of the price have generated increases in interest in the last 12 months a bit everywhere, locally there have been also other phenomena that have had a significant effect. 

It is worth remembering that in the last few months there has been a lot of talk about CBDCs, particularly in China and the US, while in Europe it has been discussed a lot for only a few weeks. 

The graph on Google Trends in the US clearly shows a peak of interest flowing from the increase in value, while the one in France came after the price peak in mid-October and coinciding with the recent hype about the digital euro. 

Moreover, in October some news relevant to the project was published, which certainly contributed to the recent increase in interest. 

A few days ago, for example, the release of the new GUI v0.17.1.1 called “Oxygen Orion” was announced, while yesterday the proposal to implement Atomic Swaps was announced

It must be said, however, that the global interest in this cryptocurrency is likely to be less affected by the technical novelties than the value of XMR and its use for truly anonymous operations. 

In fact, it must be remembered that, unlike Bitcoin, Ethereum and other public blockchains, Monero’s blockchain requires transactions to be recorded with encryption so that, while they remain public, they cannot be publicly deciphered. 

For this reason, Monero is known as one of the cryptocurrencies most capable of protecting the privacy of its users, so much so that it attracts more attention precisely when restrictions are being imposed from this point of view

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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