Crypto News Recap: Google Searches for 'Bitcoin Dead' Reach New All-time High

Published June 27th, 2022 - 05:00 GMT
Crypto News Recap: Google Searches for “Bitcoin Dead” Reaches New All-time High
The data from Google trends, a barometer used to gauge general interest in trending topics, showed an increase in interest rates in the phrase "crypto is dead", hitting a new search record. (Shutterstock)
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As fear over persistently higher inflation mounts, Google searches for ‘Bitcoin dead’ hit a new all-time high. If you’ve been paying attention to the media’s crypto news headlines for a few years, it would be understandable if you are desensitized to headlines claiming that “Bitcoin is dead”. 

On a crazier note, Elon musk seems to be unshaken by the DOGE lawsuit and reiterated his support for the dog-theme coin.

While competitors feel the heat, Binance is making interesting partnerships on NFTs. Speaking of NFTs,  Meta is testing NFTs on IG and Ukraine is selling their collection!

To quench your thirst for crypto news, here are the top headlines of last week. 

Google Searches for “Google Dead” Reaches New All-time High

Apparently, as the cryptocurrency market bottoms, many skeptical people are asking people if bitcoin is dead. The data from Google trends, a barometer used to gauge general interest in trending topics, showed an increase in interest rates in the phrase "crypto is dead", hitting a new search record. 

Crypto News Recap: Google Searches for “Bitcoin Dead” Reaches New All-time High

Over the weekend, global searches for "Bitcoin dead" soared. Similar keyword searches, such as "Bitcoin is dead," increased dramatically but did not reach a new high. Source: Google Trends.

 Google Trends data reflects such strong unfavorable sentiment. This analytics engine reports that the phrase "crypto is dead" is enjoying an exponential surge in searches today, reaching an all-time high (ATH). According to the Crypto Fear & Greed Index, the typical investor is now more fearful than at virtually any moment in the industry's history.

Crypto News Recap: Google Searches for “Bitcoin Dead” Reaches New All-time High

The answer to that is OFCOURSE NOT!  In fact, bitcoin is announced dead by mainstream media 385 times! Bitcoin is very much alive. According to data from the on-chain analytics firm Glassnode, as of June 20, %56.2 bitcoin addresses were still worth more in US dollars than when their coins entered them. So more than half of the bitcoin wallets are still in profit! 

Cristiano Ronaldo Teams up with Binance on Web3

Cristiano Ronaldo, the football superstar, has signed an exclusive multi-year nonfungible token (NFT) deal with the largest crypto exchange by trading volume Binance. 

Through this partnership, Binance will be creating a series of NFT collections with Ronaldo. The first collection will be available exclusively on the Binance NFT platform later this year. Also, the cooperation hopes to introduce soccer fans to the Web3 environment. 

Meta to Pilot NFTs on Instagram Stories

Meta, Instagram's parent company, announced that it will start testing NFTs on Instagram Stories with its augmented reality platform Spark AR. 

Meta aims at creating new ways for creators to monetize their work on the platform: 

“As we build for the metaverse, we're providing many new opportunities for creators to make money on our platforms, as well as increasing our testing of digital collectibles like NFTs on Instagram.”

Ukraine Sells CryptoPunk NFT Donation for over $100,000

On Monday, Ukraine's deputy minister of digital transformation, Alex Bornyakov, announced the sale of CryptoPunk #5364, an NFT has given to the Aid For Ukraine campaign, was sold for 90 Ether (ETH), which was valued at $102,640 at the time of sale. 

The price of the NFT climbed from its initial value of 16.19 ETH, or $31,722 when it was obtained by the donor.

Qatar Central Bank to Launch a CBDC

The Qatar Central Bank (QCB) is "in the early stages" of launching its digital currency. QCB Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani disclosed during the "Inflation Test" session at the Qatar Economic Forum that the bank is seeking to find technology solutions for its CBDC. Al Thani explained that the initiative is still in its early stages:

“Many central banks are now considering to issue CBDC, and we are not an exception to that. But we are still in the foundation stage. We are evaluating the pros and cons of issuing CBDC and to find the proper and the right technology and platform to issue our CBDC” 

When asked about crypto technology, QCB Governor commented: “Currently, crypto is a technology innovation. It might take us to a new era of fast, cheap, and more accessible financial services. However, those crypto assets which are not underlined by monetary authority might be less credible”.

Huobi Crypto Exchange Gets Licenses in Dubai

On Friday, Huobi Group announced it received the Innovation License from the Dubai International Financial Centre (DIFC), making it the company's first license in MENA.

The DIFC license is not a trade license, but rather allows Huobi to attract technology firms to set up shop in Dubai. The license grants access to the local tech ecosystem as well as preferential treatment for technology research and development, money flows, and taxation.


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