The first halving in November 2012 had a minimal impact on the trends chart, reflecting the novelty of blockchain technology and cryptocurrencies within the financial space at that time. By July 2016, the score had risen to four, and by the third halving in May 2020, it had surged nearly 13 times.
The top five countries showing interest in Bitcoin’s halving included the Netherlands, Slovenia, Switzerland, Austria, and Singapore. Among these, the top 10 cities displaying significant interest were all in Europe.
According to a report by CoinWire, Zurich, the largest city in Switzerland, scored 100, followed by Amsterdam and Rotterdam in the Netherlands with scores of 98 and 93, respectively. In Austria, Vienna, and in Germany, Dusseldorf, Stuttgart, Munich, Frankfurt, and Cologne completed the list of 10 areas with the highest curiosity about Bitcoin halving.
In the United States, the overall interest in Bitcoin halving ranked 22nd among countries, but states within America still showed a high demand. According to CoinWire’s analysis, North and South Dakota had perfect scores of 100, similar to Zurich.
Bitget Chief Analyst Ryan Lee stated that as the halving draws more attention to the world’s primary decentralized network, users may expect increased demand for BTC solutions and decentralized apps (dapps). The positive sentiment around Bitcoin has also stimulated a DeFi (decentralized finance) boom as innovators explore the DeFi on BTC move, although this innovation is still in its early stages.