Keeping an eye on the Twitter mentions and Google Trends data is yet another way for the traders to have a look at the surging trends in the Defi and NFT markets. As said in the crypto market, if you keep up with the trend in the market, you won’t end up with losses, at least the chances are minimized. 

Twitter and Google Trends Data Suggests Defi and NFT Price Hikes Lead to Surge in Social Metrics

Talking about the common metrics that are used to identify the trends in the market are technical analysis, fundamental analysis, technological factors, and social media markets. These metrics help an investor to listen to the voice of people regarding the project.

As for the data metrics provided by Google Trends, it analyzes the popularity of search queries performed via the Google search engine.

Over the past year, the Google Trends chart for Bitcoin has shown many spikes in the searches over the past year.

In addition to this, it should also be noted that the same approach can be applied to altcoins and Defi tokens.

Discussing further Defi, it has been the hottest sector since the beginning of the year 2021 and as revealed by the leading market aggregators, the total market capitalization of the Defi sector began to increase with pace in the month of January.

Parabolic Search Path in NFT

What managed to grab the attention of the world and the celebrities is the rise of the non-fungible tokens in the month of March and February.

Talking about the most significant gains from the NFT projects that include a 443% gain in the price of THETA between March 1 and 21.

The recent surge in the prices concurred with a surge in searches that are related to NFT as reported by Google Trends.