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The crypto market is currently going through a fresh correction and Ethereum is one of the hardest hit cryptocurrencies.
The crypto asset has dropped 5% in a 24-hour period and is down almost 15% in 7 days. At the time of this writing, ETH is trading in the $3,190 region.
However, one event that Ethereum investors need to pay attention to right now is the number of searches related to ETH on search engines. According to information provided by Payback ltd, Google searches for the term “sell Ethereum” have increased nearly 10 times in the past 24 hours.
This increase comes at a time when the crypto industry is apprehensive about the upcoming new crypto regulations in China and India. The recent anti-crypto stances of Tesla and Mozilla have also contributed to the wave of “human” unrest that has been felt across the market.
Additionally, this comes as the Ethereum community anticipates the upcoming EIP-1559 proposed implementation as well as the planned upgrade to Ethereum 2.0 scheduled for 2022.
The uptick in “sell Ethereum” searches suggests many are looking to get rid of their ETH holdings, possibly for fear of further price declines in a market that increasingly indicates an impending downtrend. out.
While some are looking to sell tokens, others are interested in finding out what the hell is going on with the market. Google searches for “why is Ethereum going down?” has increased by more than 2000%. This is clearly an indication of the fact that there are still a large number of ETH holders who still do not really want to “discharge” the tokens they are holding.
Besides, searches for the keyword “sell Bitcoin” have increased by 400%, showing that the sentiment to withdraw to cash is increasing. Currently, BTC is trading at around $41,945, with a 7-day price drop of 11%.
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