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An important development occurred regarding Google searches, which are considered a significant indicator in the cryptocurrency market. Recently, Solana, which has gained everyone’s favor with its rise, managed to surpass Ethereum in Google searches for the first time in 2023. This development can be linked to the momentum in the token price increase as well as significant developments in the Solana ecosystem.
Competition Between Ethereum and Solana Intensifies
Throughout the year, Ethereum was significantly ahead of Solana in search interest. However, the data changed for the period from December 17 to December 23, with Solana achieving a search interest score of 56 points compared to Ethereum’s 50 points. According to Google Trends data, the Solana search term could receive 100 points in search interest from December 24 to December 30. Google Trends indicates that a value of 100 for search interest signifies the peak popularity for the term.
The data also showed that Solana attracted more search interest than Ethereum in countries such as Spain and the Philippines. However, in countries like Indonesia, Taiwan, Morocco, and many others, investors’ interest in Ethereum continues.
Growing Interest in the Solana Ecosystem
In light of these developments, the data revealed that users searching for Solana also showed interest in search terms like “bonk” and “tensor.” Bonk is a dog-themed memecoin project on the Solana infrastructure that surpassed Pepecoin in market value on December 8 after a monthly gain of 370%. Meanwhile, Tensor is known as a Solana-based NFT marketplace that developed the NFT collection Tensorians, which has seen significant gains in the last 30 days.
The interest in the blockchain ecosystem could also be a factor in the recent price increase of Solana’s SOL token. On December 20, SOL’s market value surpassed XRP, and the token price saw a 13.8% increase, exceeding $82 for the first time since May 2022, leaving XRP behind.
On December 22, SOL overtook BNB in market value, becoming the fourth largest crypto token. However, SOL faced selling pressure and returned to pre-Christmas prices, while BNB reclaimed its position on December 29.
