While some continue to have flame wars in here about what a pump and dump is, I prefer to ignore the nonsense and look at actual indicators to show if the general public is still interested in Ethereum. For the market cap to continue to grow there needs to be new money injected into the system beyond the capital coming from those already invested. Let's look at some exhibits:
-Google Trends - Google Trends are a great way to analyze interest in a certain area. "Ethereum" as a trend continues to rise at a rapid pace. It's at 4x what it was in December and for now shows no signs of pull back. The search term "buy ethereum" continues along the same path.
An interesting graph to me related to Google Trends is the BTC vs Ethereum graph. You'll see that Bitcoin well outpaces Ethereum as expected but that gap is starting to close. What was a 27:1 ratio last month is now 23:2 (12.5:1). What's very interesting to me is that trend has nearly halved, which is exactly what has happened to the factor of price of Bitcoin over Ether during that same time frame. (BTC was about 150x Ether last month in USD terms and is now approx 75x)
-Ethereum Address Growth- Ethereum continues to add about 1,000 address a day, seeing no real loss of steam here. Usually a good indicator of overall interest as well. As with price, address count has nearly doubled over the past month.
-Ethereum Meetups - Public interest can also be indicated using the amount of Meetups people are holding. I have no kept track of this number over time but right now on Meetup.com, there are 181 active Ethereum groups, compared to 696 bitcoin groups.
These are the main 3 public interest indicators I use for now. Take them for what they are worth, but I enjoy using them as potential price indicators as well. I'll try to update a post like this monthly for us to track it all over time.
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- 8 years ago
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