Recent data suggests that interest in altcoins has waned, while Bitcoin remains the focus for investors.
Drop in Interest for Altcoins
Google Trends data indicates a significant decline in interest for altcoins. As of the latest analysis, interest dropped to 13, down from 100 reached on August 13. In the previous weeks, interest fluctuated; a minimum of 15 was recorded on July 20, before rising to 64 on July 21, then sharply falling to 24 on July 27.
Ethereum Continues to Show Gains
Despite the overall dip in interest for altcoins, Ethereum (ETH) is demonstrating positive momentum. Over the past 30 days, Ethereum's price has risen by 16.26%, with many experts believing it could reach a new all-time high. At the time of publication, Ethereum's price was $4,280.96, reflecting a 1.54% increase in the last 24 hours.
Market Analysis
The decline in altcoin interest may indicate that investors are increasingly focused on acquiring Bitcoin. The data shows that on August 13, when Bitcoin reached a new peak of $124,457.12, interest in altcoins began to plummet. Notably, the highest interest in altcoins came from the regions of San Marino, Malta, and Azerbaijan, while Singapore led in city interest.
The decreasing interest in altcoins, alongside Bitcoin's rising popularity, may signify new trends in the crypto market, where investors seek more secure opportunities.
