As bitcoin’s value surged to ,545 this week, the fascination with it appears subdued, with Google Trends indicating a low level of interest. Currently, global metrics from the last 90 days reveal the search term “bitcoin” holds a score of 36 out of 100, significantly less than when bitcoin first exceeded the K threshold nearly […]
Bitcoin News
New Milestone For Google And MultiversX, Partners Launch New Data Integration
In a new development for their partnership, MultiversX has announced its integration with Google BigQuery, marking a significant milestone in making blockchain data more accessible and insightful, per an official post.
MultiversX Ecosystem Gains a Boost With BigQuery Integration
This integration hints at potential growth for the MultiversX ecosystem, underscoring the network’s commitment to enhancing the user experience and assisting its developer community by providing them with new tools.
With this latest collaboration, Google replicates its role as the internet’s information custodian by making MultiversX’s blockchain data readily accessible through BigQuery. This platform operates as an enterprise-grade cloud data warehouse.
The official post claims this move will “democratize access to blockchain insights, offering unprecedented transparency and analysis capability to users and developers alike.”
Integrating BigQuery enables anyone with an account to delve into the MultiversX network’s intricacies without needing specialized software or the lengthy process of syncing the ledger.
Users can now easily query the network’s data, including details about the top 100 block producers, daily transaction counts, and much more, as seen in the chart below. This capability is expected to drive further innovation and development within the MultiversX ecosystem.
Lucian Mincu, CIO of the MultiversX Foundation, highlighted the significance of this development, stating:
Analyzing and interpreting data to reveal useful insights about product usage is a science barely explored in the web3 space. Having Google resolve a big part of the hassle for MultiversX projects is an important step towards making dApps better, more useful, and more appealing to the masses.
Google Support Accelerates MultiversX Development
In addition to data accessibility, the partnership between MultiversX and Google Cloud encompasses a wide range of initiatives to accelerate Web3 adoption and ecosystem expansion. As announced during the xDay 2023 Conference in Bucharest, Romania.
These include a startup accelerator program, hackathons, developer initiatives, and joint business developments. MultiversX’s presence at the company’s booth at GITEX Global in Dubai in 2023 exemplifies the partnership’s deepening collaboration.
The partnership also shows Google Cloud’s commitment to supporting the blockchain community, as highlighted by Daniel Rood, Head of Web3 EMEA for Google Cloud. The partnership aims to drive adoption, “accelerating” the growth of the MultiversX ecosystem and, by extension, the broader Web3 space.
With Google’s backing, MultiversX is poised for accelerated growth, bringing new opportunities for users and developers.
As blockchain technology continues to evolve, partnerships between MultiversX and Google BigQuery are pivotal in shaping the future of digital assets and Web3. By enhancing data accessibility and supporting the development community, MultiversX and Google are setting new standards for innovation and collaboration in the blockchain space.
Chart from Tradingview
Bitcoin ETFs: Issuers Battle To Attract Investors With Google Ad Campaigns
After the approval and launch of spot Bitcoin ETFs (Exchange-Traded Funds) by the US Securities and Exchange Commission (SEC), ETF issuers have extensively promoted their products on different media platforms to attract retail investors.
Bitcoin ETF Issuers Looking To Attract Retail Investors
At the end of January, giant technology company Google changed its advertisement policy to allow crypto fund managers to advertise crypto products in the search engine. Beginning on January 29, the company would “update the Cryptocurrencies and related products policy to clarify the scope and requirements for the advertisement of Cryptocurrency Coin Trusts.”
This decision followed the approval of 11 spot Bitcoin ETFs on January 10 by the US SEC, a significant decision that marked a milestone for the crypto industry and investors, as the approval by the US regulator provided more legitimacy to digital assets and the flagship cryptocurrency in the eyes of traditional investor.
As several members of the community reported, the asset managers that have issued ETFs launched their ads on Google following the policy change.
@BlackRock, @Fidelity, @Grayscale and @vaneck_us are all using google ads to promote their ETFs.
The #Bitcoin Spot ETF approval is bigger than you think, we have just got started pic.twitter.com/9WpBenXYwo
— Alessandro Ottaviani (@AlexOttaBTC) February 1, 2024
BlackRock, Fidelity, Grayscale, VanEck, Invesco, and Bitwise are among the ETF issuers that have taken the biggest search platform in the world to advertise their exchange-traded products. The news seems to have fueled a bullish sentiment for crypto investors due to the exponential increase of exposure that Bitcoin ETFs and the cryptocurrency sector will receive from the tech giant’s platform.
Although most issuers have taken an interest in advertising their products on Google after the policy change, it’s worth mentioning that Valkyrie Digital Assets hasn’t taken the same route as its counterparts, and it’s not using Google ads to advertise its ETF.
A Financial Times report highlights Invesco’s positive reception to Google’s ads update. A spokesperson told the news media outlet:
We believe Google — among other search engines — is an important piece of our larger marketing strategy.
Will Facebook And Instagram Follow Google’s Steps?
The advertisement battle between the ETF issuers has also taken advantage of traditional media. Bitwise has its “The Most Interesting Man in the World” ad campaign on mainstream TV, and Blackrock projects its Ads on different buildings across the US, including buildings near Wall Street in New York.
#BitcoinETF Being Advertised On Mainstream TV
Is the #bullrun officially BACK??
pic.twitter.com/dlBw5cjCuz
— Satoshi's Sip (@SatoshisSip) February 4, 2024
Now, the ads war has broadened as social media platforms have started to show interest in advertising the newly approved crypto-based investment products. Nate Geraci, President of the ETF Store Inc., shared on his X account a fragment of a Wall Street Journal report explaining that Facebook and Instagram may soon allow spot Bitcoin ETF ads.
The report highlighted the comments from a spokesman for Alphabet, Google’s parent company, which began approving ads in the US for Bitcoin ETFs on its platforms, including Google Search and YouTube.
Similarly, Facebook and Instagram are likely to follow Google’s steps soon. Per the report, a spokesperson for the Parent Company Meta Platforms said that the company is updating its US advertisement policies after the US SEC’s decision.
Geraci considers that there’s “no bigger boomer honeypot than Facebook.” Notably, the social media platform could help broaden the reach of Bitcoin ETFs as it holds a large pool of older users.
The potential interest of older users in expanding their investment portfolios and being exposed to digital assets like Bitcoin, without the need to self-custody their keys, has been a significant advertisement component of the ad campaigns from the ETF issuers.
Google Cloud Joins Flare Network Causing FLR Jump
Google Cloud enters the blockchain infrastructure industry by joining Flare as a network validator and infrastructure provider, causing Flare’s token FLR to jump in price.
Flare Network Welcomes Google Cloud, FLR token surges
Google Cloud has joined the Flare network as a network validator and infrastructure provider. Flare, self-described as “the blockchain for data,” is working to improve the way developers access decentralized data through its oracle system. Google Cloud is one of more than 100 organizations in this dual role.
In addition to validating transactions on the Flare blockchain, Google Cloud will also contribute to the Flare Time Series Oracle (FTSO). A blockchain oracle is a bridge that connects blockchain networks to external data sources, enabling smart contracts to interact with and execute based on real-world data and events. They expand the functionality of blockchains, allowing them to integrate with and respond to information outside their native network, thereby broadening the scope and practical applications of blockchain technology. The FTSO aims to ensure the provision of high-quality, decentralized data.
Hugo Philion, Co-Founder and CEO of Flare, expressed his enthusiasm about Google Cloud’s addition to their network. He highlighted the importance of decentralized data in the evolution of smart contract platforms and how Google Cloud’s participation will contribute to a more robust ecosystem.
James Tromans, Head of Web3 at Google Cloud, also emphasized the critical role of scalable data access in expanding blockchain use cases and global adoption.
Data access at scale is important to increase relevant blockchain use cases and greater global adoption of the technology. Google Cloud becoming a validator on the Flare network will help support that mission.
Following the announcement, FLR’s market capitalization has surged to over 0 million, with its price per token seeing an over 20% increase.
Do you think other cloud computing providers will enter the crypto industry in 2024? Share your thoughts and opinions about this subject in the comments section below.
Bitcoin Hits Peak Interest on Google Trends Following SEC’s ETF Approvals
In the week spanning Jan. 7th to the 13th, 2024, Google Trends revealed a peak interest score of 100 for the search term bitcoin. A closer examination of Google Trends over the past three months highlights that this interest surged to its apex on Jan. 11. This was the day after the U.S. Securities and Exchange Commission (SEC) sanctioned 11 spot bitcoin exchange-traded funds (ETFs). Following the buzz around the ETF approvals, attention is now shifting towards Bitcoin’s upcoming reward halving.
2024 Sees Bitcoin Reach New Heights in Online Searches Post-ETF Approval
Over the previous year, dating back to the week of Jan. 15th to 21st, 2023, the search term “bitcoin” garnered a rating of 55 out of a possible 100, as shown by Google Trends. Google’s service assigns a score from 1 to 100, reflecting the search interest for a given term in a specific time and location. The scoring is relative to the proportion of searches for a term like “bitcoin” against the total search volume during that period and place. A score of 100 signifies the term’s peak popularity. By the close of March 2023, the score for “bitcoin” had climbed to 65.
Throughout much of 2023, the search interest for “bitcoin” searches remained consistently low, bottoming out at a score of 35 in the week of October 8th to 14th. However, following this period, interest in the term began to rise, achieving a score of 61 in the final week of October. The peak for 2023 came in the week of December 3rd to 9th, when “bitcoin” hit a high of 70 out of 100. It wasn’t until the second week of January 2024, however, that the search term finally reached its zenith with a perfect score of 100.
Delving deeper into a 90-day snapshot of global search popularity, Google Trends reveals that the peak score of 100 for “bitcoin” was attained on Jan. 11. Yet, by Jan. 15, this figure had fallen to 41. With the buzz around the spot bitcoin ETFs fading, the fervor in search interest has similarly waned. As we enter the third week of January 2024, El Salvador emerges as the leading region for “bitcoin” searches, followed by Nigeria, Switzerland, Austria, and the Netherlands.
The related topics and queries circling “bitcoin” predominantly focus on ETFs. “Exchange-traded fund,” for example, ranks highly, alongside the “U.S. Securities and Exchange Commission.” Other prominent topics include “Solana,” “Tether,” and “Bitcoin Dominance.” Key associated queries feature terms like “bitcoin etf approval,” “bitcoin ETFs,” “bitcoin etf news,” “bitcoin ETF approved,” and “ETF bitcoin.” Additional trending topics linked to “bitcoin” are “Blackrock” and “bitcoin price.”
The next significant milestone for BTC is its reward halving, anticipated in April 2024. Analyzing the specific query “bitcoin halving” reveals a similarly spiked interest recently. This more refined term also achieved a peak score of 100 on Jan. 11, 2024, following the ETF approvals. However, since then, interest, primarily from Slovenia, Cyprus, Switzerland, the Netherlands, and Austria, has significantly diminished. As of Jan. 15, 2024, the “bitcoin halving” search term registers a score of 49.
The surge in search popularity, driven by the SEC’s ETF approvals and anticipation of the reward halving, underscores the leading crypto asset’s evolving influence in finance, technology, and economic freedoms. As interest normalizes, it’s evident that bitcoin continues to captivate global attention, reflecting its growing integration in mainstream economic discussions and its potential future impact. Nonetheless, widespread acceptance and engagement with the censorship-resistant asset must persist to maintain public interest. Only time will reveal its enduring appeal.
What do you think about the interest in bitcoin rising amid the ETF approvals and the drop that followed? Share your thoughts and opinions about this subject in the comments section below.
Apple and Google Remove Several Major Crypto Exchanges From App Stores in India Following Regulatory Crackdown
Apple and Google have removed several major crypto exchanges from their app stores in India after the Indian Financial Intelligence Unit flagged nine crypto service providers as operating illegally in the country. Various telecom networks and internet service providers in India are also blocking the websites of affected crypto exchanges.
India Continues Crackdown on Uncompliant Crypto Platforms
Tech giants Google and Apple have taken action against several major crypto exchange apps in India following the crackdown on offshore crypto exchanges by Financial Intelligence Unit India (FIU IND).
On Saturday, Google removed major crypto exchanges like Binance and Kraken from Google Play Store in India while Apple pulled crypto exchange apps from its App Store a few days earlier. In addition, various telecom networks and internet service providers in India have also started blocking the websites of affected crypto exchanges.
In December last year, India’s Financial Intelligence Unit issued “compliance show cause notices” to nine offshore crypto firms. The government explained that all crypto service providers operating in India are required to register with the FIU IND as a reporting entity and comply with the rules set forth by the Prevention of Money Laundering Act 2002. The Ministry of Finance stated at the time that 31 crypto service providers have registered with the FIU IND.
The nine crypto firms that received a notice from the FIU IND are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.
Commenting on Apple removing its app, before Google implemented a similar policy, Binance Customer Support detailed on X Friday:
We are aware of an IP block affecting a number of crypto firms, including Binance. This only impacts users who attempt to access the Indian iOS app store or the Binance website from India. Existing users who already have the Binance app are not affected.
“The ongoing situation is not unique to Binance and impacts other web3 industry players as well. We are working hard to inform constructive policy-making that seeks to benefit every user and all market participants. All user funds are safe,” Binance Customer Support noted.
What do you think about Apple and Google removing crypto exchange apps flagged by the FIU from their app stores? Let us know in the comments section below.
MS Wallet Drainer Has Siphoned Over $58 Million Using Google and X Phishing Ads
A recent report from Scam Sniffer, an anti-scam solution, revealed that MS Wallet Drainer, a cryptocurrency malware tool, has managed to siphon over million in crypto since March. The drainer uses Google search and X ads phishing links as a distribution vector and has affected over 63,000 victims as of December 21.
MS Drainer Allows Criminals to Siphon Over Million
A recent report from Scam Sniffer, an anti-scam platform used by several Web3 wallets, has revealed that a certain malware type has managed to siphon over million from cryptocurrency holders. The tool, called MS Wallet Drainer, attacks the cryptocurrency wallets (Ethereum, BNB, and other EVM chains and rollups) of victims using Google and X ads to infect their devices and drain them of any available funds and non-fungible tokens (NFTs).
The malware is distributed using the search results of Google searches for popular cryptocurrency sites and decentralized finance exchanges, such as Zapper, Lido, Stargate, Defillama, Orbiter Finance, and Radiant. The same malware was also detected in a series of Ordinals-related X ads, and a recent sampling of X ads on some feeds resulted in more than 60% of the ads leading to sites using the MS Drainer.
The report highlights that these ads use several techniques to obfuscate their purposes and pass advertising audits. For example, they only target certain regions and use redirection to bypass revisions.
One of the victims lost over million in an Ethereum wallet, while another lost over million in Ethereum assets. An investigation revealed that the tool is available in darknet forums with a price of ,500 for a standard functionality set. While other similar malware tools are fully managed and charge a 20% fee, this one only charges for modules that add additional functionality to the standard package.
What do you think about the MS Wallet Drainer and its usage of Google and X phishing ads as a distribution method? Tell us in the comments section below.
Google AI Predicts When XRP Price Will Cross $5 And What Will Drive It
The price movement of XRP has had its ups and downs this year, reflecting the volatile nature of cryptocurrencies. The crypto has increased by 74% this year, following the general bullish sentiment among cryptocurrencies. XRP went on a noticeable price spike in the middle of the year, although the price increase is currently calm and the cryptocurrency appears to be going through a consolidation phase.
According to a recent analysis by Bard, Google’s AI, XRP’s price trajectory in 2024 is a positive one. Bard noted the various parameters, timeframes, and threats that may influence the trajectory of the cryptocurrency and projected that it might eventually hit the , , and price points, representing 62%, 380%, and 710% from the current price point.
Bard Makes XRP Prediction
Google’s AI has predicted that XRP, the native currency of the Ripple network, could hit very soon and in the coming years. At the time of writing, the crypto is trading at .6144, making the price target very doable in the coming months.
Ripple is one of the biggest drivers of XRP. For example, the crypto went on a spectacular run in July, when Ripple scored a partial victory against the US Securities and Exchange Commission. According to Bard, optimism regarding Ripple’s advancements against the SEC in court, an upswing in the general crypto market in 2024, and XRP’s adoption in cross border payments could send the crypto to the price level again next year, a level which it hasn’t been since November 2021.
If adoption keeps increasing at this rate, XRP might hit and possibly even hit its current all-time high of .84. But according to Bard, in order for this to occur, XRP would need to demand increased usage and technological developments in the token’s Ledger. If things go smoothly and XRP achieves adoption in retail payments, demand could go up, with Bard estimating a 3 to 5-year journey to reach .
Lastly, Bard predicted a more mainstream adoption of XRP could see the crypto spike well above . However, the AI noted this is a very long journey potentially taking 5 to 10 years or more. The crypto reaching seems like a lofty goal, but several factors could drive the price up and beyond. A major factor in achieving this price target is XRP’s complete integration with traditional finance.
Unlike most cryptocurrencies looking to displace banks, XRP was created to complement the current financial system. At the time of writing, it is supported by over 100 banks, financial institutions, and payment systems. According to Bard, XRP’s displacement of the current payment remittance methods and a merger with central bank digital currencies (CBDCs), are two of the major factors that could propel the crypto’s price over in the coming years.
Current State Of XRP
XRP is currently trading at 0.6144 and is down by 0.85% in a 30-day timeframe. XRP is now the 6th largest crypto in market cap rankings, after being recently displaced by Solana.
Featured image from Shutterstock
Google Says It Has Updated Policy Relating Crypto Coin Trusts Adverts
Starting on Jan. 29, advertisers of cryptocurrency coin trusts targeting the U.S. market will have to meet certain requirements before promoting these on Google. According to the internet giant, violation of this new policy will not result in the immediate suspension of advertisers’ respective accounts, the multinational technology company said.
Advertisers Must Be Certified by Google
Google has announced that starting on Jan. 29, 2024, advertisers of cryptocurrency coin trusts targeting the U.S. market will be required to meet certain requirements. Advertisers of such trusts must apply and get a certificate issued by Google before they start promoting their offerings to the public.
According to Google, the so-called cryptocurrency coin trusts are financial products that enable investors to trade shares in trusts holding large pools of digital currency. Google, which has not provided a comprehensive list of the requirements, reminded advertisers they still need to adhere to relevant local regulations.
“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these products,” Google said.
However, violation of this new policy will not result in the immediate suspension of advertisers’ respective accounts. Instead, a warning will be issued seven days before the account suspension. To learn more about how to obtain the certificate as well as the restrictions on financial products, Google has asked advertisers to visit its ads policy help page on its website.
On this page, Google lists country-specific requirements that advertisers for crypto-related products must satisfy before promoting their products. Google’s issues with crypto advertising date back to 2018, when the company first introduced formal restrictions.
What are your thoughts on this story? Let us know what you think in the comments section below.
Bitcoin, Ethereum, and Crypto Google Searches Surge, Peaking in October Before Tapering Off
Over the 90-day stretch from August 13 to November 11, 2023, bitcoin (BTC) along with a broad array of crypto assets have posted substantial increases. Data from Google Trends in this timeframe indicates a surge in searches for “bitcoin,” “crypto,” and “ethereum,” with these terms achieving a peak popularity score of 100 by late October.
Searches for Bitcoin, Ethereum, and Crypto Hit Highs in October
Recently, the allure of the three terms has grown, yet post-October has seen a decline. Global data from Google Trends over the last 90 days reveals that the interest for “crypto” hit 77 out of a potential 100 on October 24. Advancing to October 30, the interest in “crypto” climaxed, scoring a perfect 100. As of November 11, the search interest for the term is maintaining a steady pace at 58.
Searches for “crypto” gleaned from Google Trends predominantly originate from St. Helena and Nigeria, with the Netherlands not far behind. Trinidad and Tobago are also among the frontrunners, while Cyprus ranks fifth in regional interest for the term “crypto.” “Executive Order,” “Sam Bankman-Fried,” and “Ben Armstrong Bitboy Crypto” are among the related subjects frequently associated with “crypto” inquiries.
Throughout the 90 days, the search term “bitcoin” has consistently maintained a level above 34, reaching a high of 71 on August 18 and settling at 48 by October 2. The interest soared to 51 on October 20 and spiked to 100 by October 24. Yet, the fervor has since cooled, with the figures from November 11 reflecting a Google Trends score of 52, indicating a tapering of interest. Nigeria leads the global regions in “bitcoin” searches, with El Salvador trailing closely.
Brazil, Switzerland and the Netherlands round out the list, following the lead of the top two contenders. Related subjects and questions linked to “bitcoin” feature prominent terms such as “Elon Musk,” “Exchange-Traded Fund,” and “how to buy bitcoin.” Over the past 90 days, “ethereum” has consistently stayed above 31 in search interest. The term hit an 82 out of 100 on October 24. It achieved full traction with a score of 100 by October 30, but as of now, it holds a steady interest level at 55.
Google Trends indicates that “ethereum” interest is coming in strong from St. Helena and Slovenia. Switzerland, Austria, and Singapore follow the duo’s lead in terms of interest in searches related to “ethereum.” Associated subjects linked to the search term include “blockchain,” “Exchange-Traded Fund,” “Chainlink,” and “Solana.” “Ethereum ETF” is also one of the highest-ranking topics.
What do you think about bitcoin, crypto, and ethereum searchers rising? Share your thoughts and opinions about this subject in the comments section below.