The year 2021 was quite important for crypto adoption in India. It is also testified by the crypto search trends of the country.
India had a phenomenal 2021 considering the country’s growing affinity towards digital assets.
Chainalysis has ranked India 2nd in its Global Crypto Adoption Index and 6th in the Global DeFi Adoption Index.
The country’s growing interest in crypto is testified by its Google Search Trends.
How to Crypto?
Among all the ‘how to’ search queries on Google, surprisingly Dogecoin ranks 6th, three places higher than Bitcoin which ranks 9th.
So, the Dogefather Elon Musk was successful in convincing Indians.
Memecoins Gave a Tough Fight to Bitcoin
Dogecoin fad took over Indians to such a high degree, that it briefly surpassed bitcoin in search volume during May.
Its memecoin counterpart Shiba Inu achieved the same feat in the last week of October.
Talking about most searched personalities, Elon Musk took up 5th place in India.
Crypto Exchanges Compete
Among the exchanges, WazirX dominates the search volumes.
The search volumes for WazirX and CoinDCX recorded 2 peaks, one during May and the other during October.
NFT Picking Up Steam
Non-Fungible Tokens too had a great year, but their search volumes do not show the same level of popularity in India as the global trends.
But at the end of the year, an increase in the search volumes has been observed. It would interesting to see if the graph keeps on rising.
Another noteworthy trend to observe is the peak during May. Most of the graphs shown above record the peak of search volumes in May. Bitcoin recorded its all-time high on November 10 when it touched the mark of 69000 USDT on Binance. The search volumes did not echo the same rise. At press time, Bitcoin is trading for around 47000 USDT on Binance.
The year 2021 holds a special place in the history of cryptocurrency as it saw El Salvador, a sovereign country, adopting Bitcoin as a legal tender. This also prompted the attention of regulators globally. That’s why the world is talking about crypto adoption on a massive scale.
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