Home Ethereum Ethereum name service registrations increase 216% in one week

Ethereum name service registrations increase 216% in one week

0
Ethereum name service registrations increase 216% in one week

The Ethereum Name Service (ENS) saw registrations surge over the weekend, with 64,000 .eth names created on Sunday and Monday alone.

Last week, 108,000 ENS domains were registered. This 216% increase, revealed in data released by ENS lead developer Nick Johnson, led to a noticeable increase in revenue. On Sunday, ENS won $684,000, an increase of half a million dollars from the previous day.

The ENS manages the issuance and renewal of .eth domain names, which are based on Ethereumsold as NFTand can be linked to its own cryptocurrency wallet.

If the recent surge in sales is any indication, the craze for ENS domain names hasn’t died down yet—000.eth sold for 300ETH ($344,000) Sunday. And non-Roman character names (such as Arabic or Chinese characters) have also generated some interest, with ٠٠٠.eth sell for 100ETH ($114,500) Monday.

Image: nick.eth/ENS

Secondary sales of ENS domain names on OpenSea also saw a massive spike, climbing over 300% in the past week. ENS is the highest-ranked collection on OpenSea last week, with over 6,900 ETH (about $7.9 million) in traded volume.

But this isn’t the first time ENS sales have skyrocketed overnight. In April, three and four digits ENS domain names (such as 123.eth or 1234.eth) began to grow when Twitter users realized that these domains had a fixed supply and made registrants members of the “10k club.” As a result, ENS made about $3 million in revenue in less than a week.

Stay up to date with crypto news, get daily updates delivered to your inbox.

LEAVE A REPLY

Please enter your comment!
Please enter your name here