In this article, we will be taking a look at the 20 most searched cryptocurrencies in 2023. If you want to skip our detailed analysis of the cryptocurrency market, you can go directly to see 5 Most Searched Cryptocurrencies in 2023.
The Cryptocurrency Market Boom
Cryptocurrency is a founding stone that brought the evolution of blockchain technology and then led to the emergence of Non-Fungible Tokens (NFTs), Web3, and the metaverse. A big milestone for the cryptocurrency market was achieved when Bitcoin (BTC) touched the $1,000 mark on November 27, 2013. Earlier in 2013, Bitcoin (BTC) was added as a word to the Oxford English Dictionary, which defined Bitcoin as “a digital currency in which transactions can be performed without the need for a central bank.” Bitcoin (BTC) started to get wider recognition worldwide when the price of BTC almost touched $20,000 in December 2017. The 2017 cryptocurrency market boom changed everything in the world of digital currency.
The crypto bull market started in May 2017, when Bitcoin’s price soared over $2,000 for the first time and crossed $3,000 just a few weeks later. At that time, the market forces also showed subsequent turbulence, including BTC’s price dropping by $300 within one hour of the trading session on June 12, 2017. However, the market forces kept the Bitcoin price on the rise. Perhaps one of the major developments was the Wall Street analysts entering the BTC price analysis game. Goldman Sachs analyst Sheba Jafari predicted Bitcoin to cross $3,600 which further led to forecasts from other notable analysts. Bitcoin reached the $20,000 price mark on December 17, 2017, making history in the cryptocurrency market. A few days later, a drop of 30% wiped off billions of dollars from the total cryptocurrency market capitalization, making it one of the biggest market corrections in history. Since then, cryptocurrency has been a highly volatile market with massive pumps and dumps, subsequently.
Crypto Market Outlook
If we look at the one-year movement of Bitcoin (BTC), the crypto deity is following an upward trend. The crypto market follows the trend of Bitcoin as it still leads the market sentiment. On August 25, Bloomberg reported that JPMorgan Chase & Co. (NYSE:JPM) analyst Nikolaos Panigirtzoglou mentioned that there is some positive sentiment building around the crypto market based on open interest in CME Bitcoin futures contracts. Based on that, Panigirtzoglou believes that there is a limited downside for crypto markets over the near term.
Bitcoin (BTC) continues to trade at about 60% above since the start of 2023, surpassing other well-performing assets like technology stocks. Bitcoin (BTC) is trading at around the $26,700 price mark, as of 6:23 a.m. Eastern Time on September 21. At the same time, BTC is almost up by 40% over the last 12 months. Ethereum (ETH), the second largest crypto asset, is trading at $1,608, up by 20% over the last 12 months. The total cryptocurrency market capitalization on coinmarketcap.com stands at $1.06 trillion, with Bitcoin’s dominance of 49.2% and Ethereum’s dominance of 18.3%, at the time of writing on September 21.
The cryptocurrency market has continuously grown despite the regulatory and market upheavals. Crypto is getting more adoption with its existence in the NFTs, Web3, and the metaverse. According to a study from IMARC Group, the global cryptocurrency market size touched $2 trillion in 2022 and it is expected to reach $4 trillion by 2028, growing at a compound annual growth rate of 11.7% between 2023 and 2028.
Cryptocurrency for Businesses
Today, cryptocurrencies are widely used for business and merchant payments. According to Deloitte, 2,353 U.S. businesses accept Bitcoin, as per an estimate in late 2022. That excludes the use of Bitcoin ATMs. Global companies are also accepting the use of Bitcoin and other top currencies for investment, operational, and transactional purposes. Some of the leading companies that accept Bitcoin (BTC) and other crypto assets include PayPal Holdings, Inc. (NASDAQ:PYPL), Visa Inc. (NYSE:V), Mastercard Incorporated (NYSE:MA), and Tesla, Inc. (NASDAQ:TSLA) – to name a few. For instance, Elon Musk has an immense involvement in the crypto market. Musk has been a great admirer of cryptocurrencies and his companies hold a large portion of Bitcoins. As of the second quarter of 2023, Tesla, Inc. (NASDAQ:TSLA) held digital assets worth $184 billion, which has remained the same for the past three quarters.
Apart from that, the world’s largest asset management firm BlackRock, Inc. (NYSE:BLK) has filed for a Bitcoin spot exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The SEC has delayed the ruling until the start of 2024. If BlackRock, Inc. (NYSE:BLK) gets the regulatory approval for a Bitcoin spot exchange-traded fund (ETF), it will become the first company to hold the first crypto spot ETF in the U.S.
The crypto industry has created new spaces for companies to enter the market such as crypto exchanges, exchange-traded funds (ETFs), crypto mining, crypto wallets, crypto lending, smart contract platforms, and crypto ATMs, among others. Cryptocurrency exchanges have played a great role in taking digital assets to the masses, helped by crypto payment platforms. According to coinmarketcap.com, the three largest cryptocurrency exchanges by volume include Binance, Coinbase Global, Inc. (NASDAQ:COIN), and Kraken.
Coinbase Global, Inc. (NASDAQ:COIN) has a large audience in the U.S. market. Being one of the largest crypto exchanges in the world, Coinbase Global, Inc. (NASDAQ:COIN) has created a massive impact on the adoption of cryptocurrencies. On September 19, Coinbase Global, Inc. (NASDAQ:COIN) announced that it has initiated a campaign asking crypto users to reach out to their Congressional representatives to advocate for cryptocurrency legislation. According to Coinbase Global, Inc., almost 52 million Americans own crypto assets, which means every 1 in 5 adults own a crypto asset. The United States is among the leading countries with the highest adoption of cryptocurrency ownership.
On September 6, Coindesk reported that Coinbase Global, Inc. (NASDAQ:COIN) along with Framework Ventures has invested $5 million in Socket, a protocol aiming to enhance blockchain communication. Coinbase Global, Inc. (NASDAQ:COIN) shares have soared by almost 110% year-to-date, as of September 21.
Moving forward, PayPal Holdings, Inc. (NASDAQ:PYPL) has been a notable company in the crypto space. On August 7, PayPal Holdings, Inc. (NASDAQ:PYPL) announced its U.S. dollar-pegged stablecoin called PayPal USD (PYUSD). Consumers can buy, sell, hold, and transfer PYUSD using PayPal Holdings, Inc. (NASDAQ:PYPL) payment platform.
Now that we have discussed what is happening in the crypto market, let’s take a look at the 20 most searched cryptocurrencies in 2023.
Pixabay/Public Domain
Our Methodology
For our methodology, we sourced the 50 cryptocurrencies with the highest trading volume as of September 23. We then checked their global search volumes on Semrush, a well-known digital marketing agency and keyword insights website. We then shortlisted the top 20 cryptocurrencies with the highest global search volumes on Semrush and ranked them in ascending order of their search volumes. In the case of two cryptocurrencies having the same search volume, we ranked them based on their trading volume. Here is the list of the 20 most searched cryptocurrencies in 2023.
20 Most Searched Cryptocurrencies In 2023
20. Monero (XMR)
Global Search Volume on Semrush: 146,600
Market Trading Volume (September 23, 2023): $38.32 Million
Launched in 2014, Monero (XMR) became famous as a privacy coin in the crypto market. With a market capitalization of $2.6 billion, as of September 23, Monero (XMR) ranks among the most searched cryptocurrencies in 2023.
Companies that are making strides in the crypto industry include PayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK).
19. Dai (DAI)
Global Search Volume on Semrush: 157,500
Market Trading Volume (September 23, 2023): $115 Million
Issued by Maker Protocol, Dai (DAI) is an Ethereum-based stablecoin. Dai (DAI) has a market capitalization of $5.3 billion, as of September 23, and ranks 19th on our list of the most searched cryptocurrencies in 2023.
18. Aave (AAVE)
Global Search Volume on Semrush: 196,400
Market Trading Volume (September 23, 2023): $64 Million
Aave (AAVE) offers an open-source liquidity protocol to create non-custodial liquidity markets. Having a market capitalization of $914 million, as of September 23, Aave (AAVE) makes it to our list of the most searched cryptocurrencies in 2023.
17. Polkadot (DOT)
Global Search Volume on Semrush: 201,300
Market Trading Volume (September 23, 2023): $62.7 Million
One of the most prominent crypto projects, Polkadot (DOT) has a market capitalization of $5 billion. Polkadot (DOT) is one of the most searched cryptocurrencies in 2023, as of September 23.
16. Curve DAO Token (CRV)
Global Search Volume on Semrush: 248,200
Market Trading Volume (September 23, 2023): $76 Million
Curve DAO Token (CRV) makes it to our list of the most searched cryptocurrencies in 2023. Curve DAO Token (CRV) has a market capitalization of $413 million, as of September 23.
15. Tether USDt (USDT)
Global Search Volume on Semrush: 249,100
Market Trading Volume (September 23, 2023): $13.3 Billion
Tether USDt (USDT) is the biggest stablecoin pegged against the US dollar. Tether USDt (USDT) has a market capitalization of $83 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023.
14. Litecoin (LTC)
Global Search Volume on Semrush: 274,900
Market Trading Volume (September 23, 2023): $242 Million
Litecoin (LTC) is also known as the privacy coin. The digital coin has a market capitalization of $4.68 billion, as of September 23. Ranked 14th on our list, Litecoin (LTC) is one of the most searched cryptocurrencies in 2023.
13. Solana (SOL)
Global Search Volume on Semrush: 281,900
Market Trading Volume (September 23, 2023): $129 Million
One of the most prominent crypto projects, Solana (SOL) has a market capitalization of $8.03 billion, as of September 23. Solana (SOL) is one of the most searched cryptocurrencies in 2023.
12. Uniswap (UNI)
Global Search Volume on Semrush: 296,800
Market Trading Volume (September 23, 2023): $44 Million
Uniswap (UNI) is one of the rising cryptocurrencies in the market that has gained attention in recent years. The digital coin has a market capitalization of $2.4 billion, as of September 23. Ranked 12th on our list, Uniswap (UNI) makes it to our list of the most searched cryptocurrencies in 2023.
11. TRON (TRX)
Global Search Volume on Semrush: 353,800
Market Trading Volume (September 23, 2023): $135 Million
One of the most prominent crypto projects, TRON (TRX) has a market capitalization of $7.42 billion, as of September 23. TRON (TRX) ranks among the most searched cryptocurrencies in 2023.
10. BNB (BNB)
Global Search Volume on Semrush: 410,600
Market Trading Volume (September 23, 2023): $230 Million
BNB (BNB) is a project of the world’s largest crypto exchange by volume, Binance. BNB (BNB) has a market capitalization of $32.37 billion, as of September 23, and makes it to our list of the most searched cryptocurrencies in 2023.
9. Cardano (ADA)
Global Search Volume on Semrush: 449,200
Market Trading Volume (September 23, 2023): $89 Million
Cardano (ADA) is one of the biggest cryptocurrencies in the world and has a market capitalization of $8.71 billion, as of September 23. Cardano (ADA) ranks among the most searched cryptocurrencies in 2023.
8. EOS (EOS)
Global Search Volume on Semrush: 563,900
Market Trading Volume (September 23, 2023): $53 Million
EOS (EOS) remains an attractive coin for crypto users. Ranked 8th on our list, EOS (EOS) has a market capitalization of $640 million, as of September 23, and ranks among the most searched cryptocurrencies in 2023.
7. Dogecoin (DOGE)
Global Search Volume on Semrush: 690,400
Market Trading Volume (September 23, 2023): $121 Million
Famously known as the meme coin, Dogecoin (DOGE) is one of the favorite digital assets of billionaire Elon Musk. Dogecoin (DOGE) has a market capitalization of $8.69 billion, as of September 23, and ranks seventh on our list of the most searched cryptocurrencies in 2023.
6. Polygon (MATIC)
Global Search Volume on Semrush: 690,400
Market Trading Volume (September 23, 2023): $146 Million
Polygon (MATIC) is one of the most famous digital assets in the world. Polygon (MATIC) has a market capitalization of $4.91 billion, as of September 23, and ranks among the most searched cryptocurrencies in 2023.
Some of the most prominent companies making investments in the cryptocurrency market include PayPal Holdings, Inc. (NASDAQ:PYPL), Coinbase Global, Inc. (NASDAQ:COIN), and BlackRock, Inc. (NYSE:BLK).
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Disclosure: None. 20 Most Searched Cryptocurrencies in 2023 is originally published on Insider Monkey.