For One Week, Ethereum Name Service Registrations Increased 216 Percent

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For One Week, Ethereum Name Service Registrations Increased 216 Percent

For One Week, Ethereum Name Service Registrations Increased 216 Percent
Image: Wikimedia Commons.
Source: Decrypt
1657105763 06 Jul / 11:09

The Ethereum Name Service (ENS) witnessed an increase in registrations over the weekend, with 64,000.eth domains established between Sunday and Monday.

In the previous week, 108,000 ENS domains were registered. This 216 percent rise, as shown by statistics released by chief ENS developer Nick Johnson, resulted in a significant income boost. On Sunday, ENS revenue increased by half a million dollars compared to the previous day.

The ENS oversees the issue and renewal of .eth domain names, which are based on Ethereum, sold as NFTs, and can be associated with a cryptocurrency wallet.

Sunday’s sale of the domain name 000.eth for 300 ETH (about $344,000) suggests that the ENS domain name mania has not yet died down. Non-roman character names (such as Arabic or Chinese characters) have also attracted attention, with ٠٠٠.eth selling on Monday for $114,500 (100 ETH).

In the past week, secondary sales of ENS domain names on OpenSea have increased by more than 300 percent. The ENS is the most popular collection on OpenSea over the previous week, with over 6,900 ETH (about $7.9 million) exchanged.

However, this is not the first time overnight ENS sales have risen. Twitter users recognized in April that three- and four-digit ENS domain names (such as 123.eth and 1234.eth) had a limited quantity and became their owner’s members of the “10k Club.” Consequently, the ENS generated almost $3 million in less than a week.

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