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Crypto among most Popular search terms in Google's Year in 2023
Here are the 10 cryptocurrencies with the most search volume in 2023:
If you're interested in what the most searched coins are on a daily basis, make sure to check out the trending coins section on CoinCodex to see which cryptocurrencies are seeing the most interest from our users at the moment.
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It's not too much of a surprise that the king of cryptocurrency is also at the top when it comes to search volume. For many people, Bitcoin is synonymous with cryptocurrency, and it has by far the strongest brand and name recognition among all cryptocurrencies.
This year, we've seen Bitcoin produce an impressive +82% recovery since January 1, which has certainly contributed to more people becoming interested in Bitcoin again. Interest in BTC has also been driven by more recent news of key financial institutions such as BlackRock and Fidelity filing to launch spot Bitcoin ETFs.
Unless we see some massive changes in the cryptocurrency, it's unlikely that Bitcoin will be dethroned by any other cryptocurrency in terms of search volume. At a market capitalization of $590 billion, Bitcoin is over 2 times larger than its next closest competitor, Ethereum ($230 billion).
Shiba Inu is the 18th largest cryptocurrency by market cap, but is the second most popular in terms of search volume. This shows that the Shiba Inu project's strategy of casting a wide net and trying to reach the largest number of users as possible is paying off.
Shiba Inu is very popular, as the token has more than 1.3 million holders on-chain, and this metric doesn't even include users who have their SHIB holdings on a cryptocurrency exchange. The coin's low price per unit makes it appear accessible, so a large number of people feel comfortable with making a small investment in SHIB.
In terms of recent developments, the most important story related to Shiba Inu in 2023 is the upcoming launch of Shibarium, a layer 2 scaling platform for Ethereum that will utilize the SHIB token.
As the second largest cryptocurrency by market cap, we expected to see Ethereum towards the top of the list of the most searched cryptos. Ethereum is by far the most dominant platform for smart contracts, and hosts the most important decentralized finance protocols, stablecoins and NFT markets.
The Ethereum blockchain is buzzing with activity, as it's seeing more than 400,000 active addresses daily. The network is handling around 1 million transactions per day.
The huge demand for transacting on Ethereum is also evident by the fact that Ethereum collects by far the most in fees out of all blockchain platforms. According to cryptofees.info, Ethereum users paid just over $6 million on average per day in fees over the last 7 days. This figure is only at $560,000 for the next closest competitor, Bitcoin.
Undoubtedly, SOL's very strong performance this year has contributed to Solana being one of the most searched cryptos in 2023. Since January 1, SOL has gained a massive 180%, producing an impressive recovery after a heavy crash in the 2022 bear market.
Despite the downfall of FTX, which was one of the key backers of the project, Solana continues to be one of the most relevant blockchain platforms today thanks to its extreme efficiency and well-developed ecosystem.
Since the platform can handle thousands of transactions per second at very low cost, Solana could benefit significantly if mainstream-oriented use cases for blockchain take off in the future. For example, Solana is a top candidate for gaming projects that incorporate blockchain technology and NFTs.
The dramatic collapse of the Terra ecosystem in 2022 was so impactful that Terra continues to be one of the most searched cryptocurrencies even in 2023.
After LUNA and the UST stablecoin became almost worthless, the Terra community split into two camps. One part of the community launched a new blockchain, while the other stayed on the old blockchain under the name Terra Classic (LUNC).
Terra Classic is a significant contributor to the search interest for the term “Terra”, as it has an extremely active online community and remains one of the popular cryptocurrencies on the market. The coin still has a very respectable market capitalization of $503 million, which is quite impressive given just how bad things looked for Terra in 2022.
XRP is another cryptocurrency that has an extremely dedicated online following. The XRP community, dubbed the “XRP Army”, is always busy promoting their favorite cryptocurrency and discussing the latest developments related to it.
Search interest for XRP was also catalyzed by the ongoing lawsuit between Ripple and U.S. securities regulator SEC (Securities and Exchange Commission), which could have significant ramifications not just for XRP, but the entire cryptocurrency and blockchain industry as well.
Recently, the judge presiding over the case found that Ripple's XRP sales on cryptocurrency exchanges and XRP sales by Ripple executives did not constitute securities offerings. This sparked a huge rally in the markets for XRP and opened the door for major cryptocurrency exchanges like Coinbase, Kraken and Crypto.com to re-list the cryptocurrency.
Even after the lawsuit concludes, we can safely expect that XRP will remain one of the most searched cryptos.
Dogecoin is a meme coin launched in 2013. Ever since its launch, DOGE has been a mainstay in the crypto sphere, and has attracted one of the strongest communities among all coins. Even though it started as a joke, DOGE has successfully weathered several bear markets and is currently the 9th largest crypto asset by market capitalization.
Dogecoin has a very strong brand, as it's based on the popular Shiba Inu internet meme and has been endorsed by billionaire entrepreneur Elon Musk.
Dogecoin could easily skyrocket up the list of the most searched cryptos if it displays another bull run like we saw in 2021. Search volume for Dogecoin has cooled off slightly due to the coin's lackluster performance in 2023 so far. Since January 1, Dogecoin has only gained a meager 2.4%, while the top crypto assets Bitcoin and Ethereum have gained 82% and 59%, respectively.
FTX Token is the exchange token issued by the now-defunct cryptocurrency exchange FTX. At its peak, it surged to a market capitalization
In late 2022, it seemed that FTT was doomed after FTX filed for bankruptcy and the full scale of the exchange's alleged fraud began surfacing. However, the token has quietly caught a second wind, and is up an impressive 73.2% on a year-to-date basis.
The reason why FTT has been gaining value (and attention) as of late is that there are serious talks of the FTX exchange being restarted under new leadership. FTT is still trading about 98% down from its all-time high, so some traders believe it's worth taking the risk in case the token will be used by the revamped FTX.
Pepe is a meme coin that made an explosive debut in the spring of 2023. The PEPE token displayed huge gains shortly following its launch, and was quickly picked up by top centralized cryptocurrency exchanges.
Pepe almost single-handedly revitalized the meme coin sector, and spawned hundreds of copycat projects that are looking to replicate its success. Still, Pepe remains by far the largest of this new meme coins, which is also reflected in its search interest.
While the PEPE price has declined significantly since its peak, the coin still maintains an impressive $655 million market capitalization and has a dedicated community promoting it across social media platforms. Still, users need to keep in mind that PEPE currently has no utility apart from being a simple ERC-20 token on the Ethereum blockchain.
BNB is a token originally created by Binance, the biggest cryptocurrency exchange by user count and trading volume. Over the years, however, BNB has taken on a life of its own and it's no longer strictly tied to Binance, even though the exchange still offers some benefits to holders of the token.
BNB is used as the native token of BNB Chain, a highly popular blockchain platform that provides a cheaper and faster alternative to Ethereum. Projects that aim to appeal to a broad audience often choose to launch on BNB Chain instead of Ethereum, as the low transaction fees offered by BNB Chain make it a lot easier for all types of investors to participate.
With this in mind, it's not too surprising to see BNB take a spot among the top 10 most searched cryptos in 2023.
When looking at the most searched cryptos in 2023, we can see that the list consists of the top cryptocurrencies by market capitalization, as well as meme coins that have a large number of holders and a strong social media presence.
Look out in 2024 - Forgast
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If you're interested in more cryptocurrencies to explore, make sure to check out our list of the cryptocurrencies to buy in 2023.
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