According to Google Trends data, Google search interest for the term ‘on-chain’ hit an all-time high in May.
Over the past five years, global search interest for this term has mostly been below 25 out of 100, with a brief spike to around 30 in March.
However, between May 26 and June 1, search interest for “on-chain” reached 100 in the index.
“Once a technical buzzword, ‘on-chain’ is now widely known. The next step is to log everything onto the chain. The learning phase is over. A new era is coming.” Ki-young Ki, CEO of CryptoQuant, said this in an article posted on X on June 3rd.
According to the data, the country with the most interest in this term in the past 30 days was Nigeria, followed by Afghanistan and Ethiopia.
Users who searched Google also frequently searched for the terms “onchain tokens,” “onchain coins,” “onchain crypto,” and “onchain summer.” The latter is a slogan adopted by Coinbase to help market its Ethereum layer-2 network Base. .
Base founder Jesse Pollak noted last March that the term “on-chain” performed better in consumer tests than any other word people use for cryptocurrency.
So what is happening on-chain now?
The largest on-chain tokenized treasury fund
At the end of April, the BlackRock USD Institutional Digital Liquidity Fund became the largest treasury fund tokenized on the blockchain. The fund currently has $459.9 million in assets under management, ahead of Franklin Templeton, which ranks second with $357.7 million.
StarkWare, GaiaNet Introduce AI Agents to Chain
Last May, Ethereum Layer 2 blockchain Starknet, in partnership with AI company Giza, announced that it would soon allow AI agents on the blockchain to autonomously perform on-chain activities such as yield optimization and portfolio reallocation. .
A few weeks later, GaiaNet raised $10 million for its AI infrastructure project, which aims to decentralize AI agent software on-chain. GaiaNet leverages a distributed network of edge nodes controlled by individuals and businesses to host AI models based on their expertise, with each node acting as an AI twin that performs tasks for the operator.
On-chain indicators paint a rosy picture for Bitcoin.
During the month of May, several analysts used on-chain indicators to predict the future trajectory of Bitcoin (BTC).
Related: Ethereum’s on-chain messages reveal stories of love, loss, and fraud.
On May 19, an anonymous cryptocurrency analyst known as ‘ELI5 in TLDR’ suggested that five out of seven on-chain indicators are currently showing that the Bitcoin bull market may have just begun. Metrics included Bitcoin MVRV Z-score, Puell Multiple, and market power.
A few days later, Glassnode analysts said Bitcoin was preparing for a “bigger move” to the upside, citing the Supply Last Active Age Band metric, which looks at how long it has been since Bitcoin moved on-chain at various levels. suggested. Last active supply.”
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