Racing ethereum (ETH) prices have seemingly failed to impress Chinese crypto users, with interest in the token – as well as blockchain technology – almost unchanged despite record-breaking recent altcoin rallies.
Data from WeChat shared on Twitter by Primitive Ventures co-founder Dovey Wan showed that while interest in bitcoin (BTC) spiked as the token broke through the USD 20,000 and then the USD 30,000 threshold, ETH and blockchain interest barely even fluctuated – even when ETH was posting gains of over 100%.
WeChat keywords: “Bitcoin” – green, “Blockchain” – purple, “Ethereum” – yellow:
Google Trends data on BTC- and ETH-related searches originating in China appear to back this up, with BTC activity at sky-high levels, while ETH remained more or less stable.
However, these trends may be more indicative of the way crypto-related news is reported in China than anything else.
Blog posts and videos about bitcoin have become a popular subject matter for the internet celebrity and middle school teacher Li Yongle, helping boost the profile of the token yet further in the nation – although Li claims he does not own any crypto.