The month of May brought a historic milestone for the term “onchain”, which reached its maximum peak of interest according to Google Trends. This escalation reflects a growing fascination and engagement with blockchain technologies and cryptocurrencies.
During the last five years, curiosity about the term “onchain” has varied, remaining mostly below 25 points on a scale that goes up to 100. There was a slight increase in March, reaching around 30 points, but it was between May 26 and June 1st that interest spiked to 100, setting a new record for the term on Google.
This significant increase can be attributed to several important developments in the sector. In late April, BlackRock’s USD Institutional Digital Liquidity fund (NYSE: BLK) became the largest tokenized treasury in
blockchain
. With assets under management reaching US$459,9 million, the fund surpassed Franklin Templeton’s US$357,7 million, marking a significant step in the fusion between traditional finance and blockchain technology, promoting greater transparency and liquidity.
Once tech jargon, ‘on-chain’ is now widely known. The next step is to record everything on-chain. The learning phase is over. A new era is coming.
pic.twitter.com/LhXQ7ncqwl
– Ki Young Ju (@ki_young_ju)
June 3, 2024
Additionally, in May, Starknet, a layer 2 Ethereum (ETH) blockchain, in partnership with the
artificial intelligence
Giza, revealed plans to incorporate AI agents into its network. These agents will autonomously perform on-chain tasks, including yield optimization and portfolio reallocation, which promises to bring new levels of efficiency and automation to blockchain operations.
Another event that contributed to the increase in interest was the launch of the Ordinals protocol and the consequent popularization of Bitcoin-based NFTs. One notable example is the OnChain Monkey NFT collection, a series of 10.000 Ethereum NFT profile images that, in 2021, used ordinals to register all of its artwork on the Bitcoin blockchain.
Read also
Post-halving Bitcoin boom is close, expert believes
The growing interest is also linked to the usefulness of onchain metrics, which are increasingly seen as essential tools for analyzing and predicting future Bitcoin (BTC) movements.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice:
Google Partners with Oasis Labs to Advance Data Privacy with Altcoin ROSE
Aptos Innovates with Chainlink Integration to Develop dApps
谷歌趋势显示，“Onchain”一词的兴趣达到历史最高水平