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The cryptocurrency Monero (XMR) rises again in Google Trends



Interest in cryptocurrency Monero (XMR) he has fluctuated considerably over time on Google Trends.

Being one of the most famous cryptocurrencies with a high privacy level, interest in it grows, especially when stricter controls on the use of money are announced.

In recent times, for example, there has been increasing talk about reducing the use of cash and about central bank digital currencies (CBDCs), which are topics closely linked to a likely future increase in controls on the use of cash. money.

It is not a coincidence that this generally leads to increased interest in Monero, which can be found on Google Trends.

Furthermore, while the value of XMR has a significant impact in terms of interest in it, this occurs globally, while fears of tighter controls have a greater impact locally.

Monero (XMR) on Google Trends

Comparing the graph of the last 12 months in Google Trends in USA, United Kingdom Y France, for example, the differences are very striking.

Regarding the price, the most interesting price increases occurred in February, August and Octoberwhile the highest search peak in the US occurred in September.

Therefore, if, on the one hand, the three price rises have generated interest increases in the last 12 months a little everywhere, locally there have also been other phenomena that have had a significant effect.

It is worth remembering that in recent months there has been a lot of talk about CBDCs, particularly in China and the US, while in Europe there has been a lot of debate for only a few weeks.

The Google Trends chart in the US clearly shows a spike in interest derived from the increase in valuewhile France's came after the price spike in mid-October and coinciding with the recent hype about the digital euro.

In addition, some news relevant to the project was released in October, which undoubtedly contributed to the recent surge in interest.

A few days ago, for example, the launch of the new v0.17.1.1 GUI named "Oxygen Orion" It was announced and also the proposal to implement Atomic Swaps it was announced.

It must be said, however, that global interest in this cryptocurrency is likely to be less affected by technical developments than the value of XMR and its use for truly anonymous trading.

In fact, it should be remembered that unlike Bitcoin, Ethereum, and other public blockchains, the Monero blockchain requires transactions to be recorded with encryption so that, while they remain public, they cannot be publicly decrypted.

For this reason, Monero is known as one of the cryptocurrencies most capable of protecting the privacy of its users, so much so that it attracts more attention precisely when restrictions are being imposed from this point of view.


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