It has been observed that for nearly half a year, the crypto enthusiasts of India have been continuously searching for Ethereum over Bitcoin. Various researchers confirmed this at the end of February that the searches for Ethereum in India were likely to be twice as of Bitcoin.
According to a free Internet Service Provider of India, Jana “Ethereum left behind Bitcoin in the race of the most searched cryptocurrency in India over the past five months. The share of Ethereum commands 34.4% of the overall currency searches which is 29.9% in the case of Bitcoin as per the report released by Quartz India. The results were then published by Jana’s Mobile majority study. The results also revealed that after Ethereum the next most searched cryptocurrency is Buyucoin (NEM) having a share of 21.2%. The remaining cryptocurrencies only captured a share of 5% or less.
Nathan Eagle, the CEO of Jana believes that the government recommending shutting down the exchanges and imposing limits on the currencies and also the declination in the prices of bitcoin combinedly led to this scenario. In the recent months, the regulators and government of India have suggested everything like cryptocurrency is not a legal tender and some statements to shut down the exchanges. It ultimately tends to get the majority of attention when it is concerned about the cryptocurrency. There are still a lot of searches but may be ironically the bitcoin’s success if the major cause for the search being in the favour of Ethereum.
Mcent Browser was used by Jana to find out the currency terms which were searched and the exchange visits over the past five months which a period from October 2017 to February 2018. The results were released by Quartz India which said that ‘Ethereum searches were double that of bitcoin during the last week of February’. There was an inverse relationship between the searches for Ethereum and Bitcoin price. This comparison may not reflect the fact that people are buying more Ethereum but it does reflect that they are certainly a lot more interested in it.
Moreover, if we count the positive side then it does add that India is having a move towards the crypto market. The non-government associations of the country are welcoming the cryptocurrency trends although the government is somewhere hostile. A bitcoin mining training programme has also been launched by Indian Chamber of Commerce across 30 cities over the nation. The ultimate goal behind this is to teach youngsters 0f the country about bitcoin, cryptocurrencies, blockchain technology, crypto mining etc. Wherein the ultimate goal lies in empowering the country with all latest trends and technologies to build a strong economy.