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Ethereum Name Service Registrations Surges

  • In just one week, enrollment for Ethereum Name Services rose by 216%, while in the same period, subsequent trades on Opensea topped $7.9 million.

64000 Ethereum Name Service were requested within a week

Over the weekend, there was a rise in Ethereum name service applications, and 64,000 new ETH domains were generated. 108,000 new ENS identities were registered in the last week, a 216 percent growth. Lead ENS programmer Nick Johnson’s data indicates that this rise has added revenue. The revenue generated by the ENS increased by $500,000 from the preceding day to $684,000. The Ethereum name service can create ETH domain names that are based on Ethereum and may be connected to a user’s cryptocurrency wallet in addition to being traded as NFTs. 

Ethereum Name Service, Credit: Binance Academy
Ethereum Name Service, Credit: Binance Academy

The current increase in sales is a sign that the ENS domain registration mania is still going strong. Non-Roman character names also attracted considerable attention; some of them sold 100 ETH on Monday. ENS is the highest portfolio on OpenSea with over 6900 ETH exchanged. Secondary sales of ENS domain names there have also surged significantly, by over 300 percent over the previous week.

DAO Token

As Ethereum Domain Services deployed its DAO token, a new governing token over current name registrants, Twitter came under criticism. The majority of account holders were thrilled since some name holders made large profits from its sharply rising value. The airdrop was just announced by ENS’s Director of Operations. He clarified that with the new governance token, the team will transfer Ethereum Name Service control to the business.

The airdrop was open to everyone, however, only those who had bought at least one ENS domain were given governance tokens. Later, he verified on Twitter that more than 137K accounts qualified for the update, which didn’t call for investors to claim the deduction.

Ujan Chakraborty
Ujan Chakraborty
Nothing but Blue Skies.

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