Ethereum Name Service (ENS) Registrations Spike 216% In One Week

Secondary sales on OpenSea meanwhile exceeded $7.9 million over the same period. The Ethereum Name Service (ENS) saw registrations spike over the weekend, with 64,000 .eth names created on the 2nd and 3rd of July.

Ethereum Name Service is going against the trend of the market

108,000 ENS domains were registered in the previous week. Lead ENS developer Nick Johnson’s data showed that this 216% growth resulted in a noticeable rise in income. The ENS earned $684,000 on Sunday, an increase of $500,000 from the day before.

The ENS manages the issuance and renewal of .eth domain names, which are built on Ethereum, sold as NFTs, and can be linked to one’s cryptocurrency wallet.

As updated in a recent Coincu News article, Ethereum domain name “000.eth” has just found a buyer for 300 ETH, equivalent to nearly 320,000 USD in the sale. Interest in Ethereum Name Service (ENS) and its decentralized domains has yet to wane, and 3-digit domain name sales prove it.

Over the past week, secondary sales of ENS domain names on OpenSea have skyrocketed by more than 300%. With over 6,900 ETH (approximately $7.9 million) in volume traded over the previous week, the ENS is the most popular collection on OpenSea.

However, the overnight increase in ethereum name service sales is not new. When Twitter users understood that three- and four-digit ENS domain names (such 123.eth or 1234.eth) had a fixed supply and declared owners members of the “10k Club,” these names began to trend in April. The ENS earned nearly $3 million as a result in less than a week.

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