The recent analysis of Google search data has revealed that a lot of people are searching for how to sell Ethereum. In fact, the search for 'sell Ethereum' increased by almost 972% in the United Kingdom. It was the same day when ETH dropped to the price level of 300.
According to experts, this sudden increase in the selling of Ethereum was almost 10x more than what's normal for an average normal day. So if 1000 people were selling Ethereum in a single trading day, the increase would mean that now 10,000 people were selling Ethereum!
Although the cryptocurrency market has always been volatile, the recent interest in the selling of ETH is unprecedented. In fact, it is a matter of serious concern for the ETH investors and even the entire crypto community.
If we look around, a lot of bad press is going on related to the crypto industry. For starters, China is announcing tougher regulations for cryptocurrencies. Similarly, electric car maker Tesla also ditched the idea of accepting BTC as a form of currency for its cars.
Although these developments have been recent, it would be interesting to see where this leads us to! If we look at the ETH in specific, it has a lot of potential and uses in the NFT marketplace. Over the past few months, an explosive surge was experienced in the NFTs, which also boosted the ETH.
During the same period of time, Google searches for 'sell Bitcoin' also increased by 400%. So in a sense, people were worried about their investments in crypto and were looking for a way to cash out.
The easiest way to sell ETH is through a regulated crypto exchange. Through these platforms, one can exchange their digital assets with other digital assets or even fiat currency.
But if you plan to sell a large amount of ETH, you would have to complete the KYC, which includes uploading documentation and awaiting account review.