Shifting Tech Trends: Cryptocurrency Takes a Backseat as AI Soars to the Forefront

Cryptocurrencies have had a tumultuous journey, with their value fluctuating wildly over the years. Despite market shifts, institutional interest in cryptocurrencies remains a vital part of the industry. In this article, we will delve into the search trends for cryptocurrencies and artificial intelligence (AI), highlighting important findings and industry trends.

Nigeria leads in crypto-related searches, according to recent findings. The country scored the highest for most crypto-related searches, with a much higher score than other countries. The data also revealed that South American countries had the lowest results, indicating little interest in cryptocurrencies in the region.

Decline in online crypto searches

Despite the popularity of crypto-related searches in Nigeria and some other countries, online searches related to cryptocurrencies have decreased. Figures show that online searches for crypto slumped to late 2020 levels, indicating a lack of interest in common cryptocurrency terms.

In contrast to the decline in online searches for cryptocurrencies, there has been a rapid increase in online searches for AI. A record high in searches for AI indicates that there is a growing interest in this field.

The term “crypto” has experienced a significant decrease in popularity, with a score of 17, much lower than the reference point of 100 it held in May 2021. Bitcoin and Ethereum, two of the most popular cryptocurrencies, have also witnessed significant drops in value.

Institutional Interest in Cryptocurrencies

Despite the market’s downfall of 60% from its all-time high, there has been no change in institutional interest in cryptocurrencies. In fact, research has shown that institutional interest in cryptocurrencies remains strong, with active engagement from investors in the space.

Continued institutional interest in cryptocurrencies

Reiterating the point made above, it is essential to note that institutional interest in cryptocurrencies remains strong. Although the market has witnessed a significant drop from its all-time high, institutional investors continue to engage with the space.

It is no surprise that crypto ETFs have been gaining traction among institutional investors lately. About 75% of institutional investors have expressed interest in crypto ETFs, indicating a growing willingness to invest in this sector.

Crypto ETFs appeal to institutional investors because they provide exposure to cryptocurrencies while mitigating risk. The diversity provided by ETFs adds a layer of safety, making them appealing to institutional investors who are looking for secure investment vehicles.

Similarities between AI and Bitcoin

While AI and Bitcoin are two different technologies, both have had similar journeys. Both started as misfits and went on to revolutionize their respective spaces. AI has become an essential part of modern technology and Bitcoin has disrupted the traditional finance industry.

As we have seen, institutional interest in cryptocurrencies remains significant despite the market downturn. While cryptocurrencies may experience periods of volatility, they are here to stay. Additionally, the growing interest in AI shows that technology continues to be an essential part of the modern world. Ultimately, cryptocurrencies and AI are shaping the future of technology and finance alike.

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