Google search interest in the term “onchain” reached an all-time high in May, according to Google Trends data.
Over the past five years, global search interest in the term has generally remained below 25 out of 100, with a brief peak at around 30 in March.
However, between May 26 and June 1, search interest for “onchain” reached 100 in the index.
“Once a technical term, the word “on-chain” is now widely known. The next step is to record everything on the channel. The learning phase is over. “A new era is coming,” Ki Young Joo, CEO of CryptoQuant, said in a June 3 article on X.
Data indicates that Nigeria showed the most interest in this term over the past 30 days, followed by Afghanistan and Ethiopia.
Users who searched on Google also often searched for the terms “onchain Token”, “onchain Coin”, “onchain crypto” and “onchain Summer” – the latter being a slogan adopted to help market the base layer of the Ethereum network. . The second is for Coinbase. .
The database’s creator, Jesse Pollack, noted in March that the term “onchain” performed better in consumer testing than any other word used to refer to cryptocurrencies.
So what’s happening on the channel now?
The biggest token hoard on the chain
In late April, the BlackRock USD Institutional Digital Liquidity Fund became the largest treasury fund to be tokenized on the blockchain. The fund currently has $459.9 million in assets under management, beating second-place Franklin Templeton with $357.7 million.
StarkWare and GaiaNet will bring AI agents to the series
In May, the second layer of the Ethereum blockchain, Starknet, in partnership with AI company Geza, announced that it would soon allow AI agents on its blockchain capable of autonomously performing on-chain activities for users, such as yield optimization and portfolio reallocation.
A few weeks later, GaiaNet raised $10 million for its AI infrastructure project, which aims to decentralize on-chain AI agent software. GaiaNet uses 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 its operator.
Onchain Metrics Paint a Rosy Picture for Bitcoin
During the month of May, many analysts used onchain metrics to predict the future direction of Bitcoin (BTC).
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On May 19, a pseudonymous cryptocurrency analyst known as “ELI5 of TLDR” suggested that five of seven on-chain metrics currently show that Bitcoin’s uptrend may have just begun. Metrics included Bitcoin MVRV Z-Score, Puell Multiple, and Market Dominance, among others.
A few days later, analysts at Glassnode suggested that Bitcoin was poised for a “bigger move” higher, citing the Latest Working Age Supply metric, which looks at how long it has been elapsed since Bitcoin was moved on-chain based on different “last active supply” levels.
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