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“Ethereum” Searches On Google Reach New All-Time High

The new bull market is generating a lot of buzz, and it seems that it can be seen even with the sheer volume of google […]

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The new bull market is generating a lot of buzz, and it seems that it can be seen even with the sheer volume of google searches. In particular, Ethereum has gained the most out of this, with the asset seeing its newest all-time high in Google searches for “Ethereum.”

More People Searching for “Ethereum” Than Ever Before

As shown by Google Trends, “Ethereum” google search numbers have reached an all-time high, which has virtually eclipsed the previous ATH achieved during the last ETH bull run, which was back in January of 2018. Unsurprisingly, this was the time when one of the world’s most significant altcoins reached its all-time high in price, measuring in at $1,432.88 apiece.

Historically speaking, the Google Analytics interest score is considered a type of “folk metric,” typically used to gauge the sentiments of a particular project or coin, positive or otherwise.

Now, Ethereum achieving a new all-time high in searches isn’t that surprising, considering the currency is trading at $1,200 apiece and is testing its previous ATH. Still, Bitcoin isn’t that fortunate, relatively speaking. Crunching the numbers, only 65% of the world’s first cryptocurrency’s search numbers are being achieved, with its peak happening on the 23rd of December, 2017.

Potential For An Autonomous Bull Run

That being said, this doesn’t mean there are few people searching for “Bitcoin.” Indeed, for every one search for “Ethereum,” there are more or less five other searches done for “Bitcoin.” It seems that Bitcoin will stay top dog for the indefinite future

Now, there’s an interesting potential dynamic that can occur thanks to this massive uprising in popularity in crypto search terms: There’s the odd chance it could create a self-driving bull run. Simply put, the more curious investors search for, and purchase,c crypto, the higher the price goes, which ultimately attracts more investors and more searches, becoming a lucrative self-fulfilling prophecy.

Some Interesting Details

Google Data further provides info regarding the interests of Ethereum by the region. As it stands now, North Macedonia, Kosovo, Nigeria, Slovenia, and China boast some of the highest interest in the search term “Ethereum.”

As for various other search terms within the crypto space when compared to their respective all-time-highs, the term “DeFi” has become quite popular, achieving 90% of its previous ATH. As for the less-fortunate cryptocurrencies out there, it seems that Litecoin and Bitcoin Cash drew the short straws, with the cryptocurrencies achieving only 14% and 9% of their respective all-time high interest metrics.

Source: https://insidebitcoins.com/news/ethereum-searches-on-google-reach-new-all-time-high

Blockchain

Aave hits record $288 high as demand for flash loans and staking increases

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Aave (AAVE) price has been on an absolute tear for weeks and today the DeFi-token rallied to a new all-time high at $288.90. 

The decentralized finance protocol is one of the most popular in the market and the recent rally in the DeFi sector is one of the driving forces behind AAVE’s rally.

AAVE/USDT 4-hour chart. Source: TradingView

At the start of 2021, AAVE price was trading at $83 and the recent rally appears to have bolstered the protocol’s surging total value locked, increasing buy volume on spot and derivatives exchanges and the continued development of Aave’s lending platform and flash loan issuance.

TVL soars to a new high

Data from DeFi Pulse shows that Aave’s TVL rose from $2.03 billion on Jan. 1 and as (BTC) and Ether (ETH) price went parabolic Aave’s TVL also surged.

Total value locked on AAVE. Source: DeFi Pulse

Currently, Aave’s TVL sits at a new all-time high of $3.75 billion, making the platform the second-largest DeFi platform by TVL behind Maker (MKR).

The steady addition of new tokens to the lending and borrowing protocol increases the likelihood that its TVL will continue to rise and help AAVE retain its standing as one of the top DeFi projects in the cryptocurrency space.

Staking drives demand for AAVE token

AAVE’s trading volume also surged at the beginning of 2021, increasing from $200 million on Jan. 3 to a high of $928 million on Jan. 16.

AAVE price vs. Reported trading volume. Source: TheTIE

As AAVE price reached a new high, it’s 24-hour trading volume notched a record $1.06 billion. This volume surge is partially driven by investors acquiring more tokens for staking, with 26.8% of the total supply of AAVE currently staked on the platform earning an APY of 6.1%

Flash loans attract investors

Another reason for AAVE’s recent surge is the growth of its flash loans.

Flash loans allow cryptocurrency holders to collatoralize their portfolio to fund other purchases or new crypto purchases. The loans also help investors utilize the value in their tokens without the need to sell see them and create a taxable event.

Since launching flash loans less than 12 months ago, more than $1.7 billion have been issued and it’s expected that this figure will increse as the crypto bull market progresses.

Total flash loan issuance to date on AAVE. Source: Messari

As can be seen in the chart above, the most dominant token requested for flash loans is the DAI stablecoin, followed by USDC and ETH. Data from Messari shows that Aave issued $25 million in loans in the first half of 2020, $500 million in Q3, and nearly $1 billion in Q4, including $450 million in December.

The expansion of the flash loan concept will likely attract more users to Aave, especially since they can be used for arbitrage opportunities between DEXs, collateral swaps, self-liquidations and a variety of other applications within the DeFi sector.

Source: https://cointelegraph.com/news/aave-hits-record-288-high-as-demand-for-flash-loans-and-staking-increases

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Blockchain-based-video-game

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Ethereum and the broader cryptocurrency market have seen mixed price action over the past few days and weeks. Ethereum Price is Surging Despite the selling pressure it has experienced at $1,200, ETH beat all odds and surged beyond $1,400, recording a new all-time high at $1,423.38.  At press time, the…

Source: https://btcmanager.com/Blockchain-based%20video%20game%20community%20and%20development%20platform,%20Enjin%20(ENJ)%20witnesses%20the%20launch%20of%20the%20highly-anticipated%20dark%20sci-fi%20action-adventure%20game,%20Age%20of%20Rust./

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Blockchain

Cryptocurrency makes World Economic Forum’s Davos Agenda

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The World Economic Forum’s upcoming Davos Agenda will feature two separate sessions on cryptocurrency, offering another compelling sign that digital assets have permeated mainstream consciousness. 

The sessions, titled Resetting Digital Currencies, will be held on Monday and Thursday. The first session will feature five public speakers, including Bank of England Governor Andrew Bailey and Hikmet Ersek, president and CEO of Western Union.

Thursday’s group features four speakers, including Tharman Shanmugaratnam, a senior minister for the government of Singapore, and Zhu Min, chairman of the Beijing-based National Institute of Financial Research.

“COVID-19 has accelerated the long-term shift from cash,” reads the prospectus for both sessions. “Meanwhile, central bank digital currencies are emerging, potentially transforming how people use money worldwide.”

It continues:

“What policies, practices and partnerships are needed to leverage the opportunities posed by the rise of digital currencies?”

Davos Agenda is a five-day summit featuring some of the world’s leading figures in finance and government. The cryptocurrency series falls under the summit’s “Fairer Economies” theme. Other themes include “Tech for Good,” “How to Save the Planet” and “Healthy Futures.”

The World Economic Forum is devoting more resources to understanding blockchain technology and cryptocurrency. The Geneva-based organization has even created a cryptocurrency working group, which only last month published its inaugural review focusing on the various use cases for digital assets “beyond price and speculation.”

The Forum’s research has cited blockchain technology as a key driver of “sustainable digital finance.” Blockchain and smart contract capability, the Forum’s researchers argue, can unlock “hidden values of legacy digital systems.”

Central bank digital currencies, or CBDCs, are one area of research the Forum has delved into over the past 18 months. In Jan 2020, the Forum announced it had developed a framework to help banks “evaluate, design and potentially deploy CBDC.” The framework was developed in conjunction with over 40 central banks, financial institutions and academic researchers.

Source: https://cointelegraph.com/news/cryptocurrency-makes-world-economic-forum-s-davos-agenda

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