Amazon.eth Domain Owner Ignores 1 Million USDC Purchase Offer On Opensea

On Tuesday, the Amazon.eth domain received an offer of 1 million USDC from an anonymous wallet address on OpenSea. However, the offer to buy the ENS domain was not answered, and no transaction occurred. A user purchased the domain five months ago for 33 Ether (worth around $100,000 at the time).

It is unclear at the time of writing whether the owner was simply not informed of the offer to buy, or did not consider it a near-fair value, or whether the bidding account and the domain owner obtained it. linked together to increase asset prices or not (in what are known as “laundered transactions”).

According to data from Opensea, other bids for ENS domains are only around 6,200 USDC. The domain is officially verified by ENS and owned by anonymous user 4761BF.

ENS is a blockchain naming protocol that allows users to store avatars and profile pictures across devices and send or receive cryptocurrencies and non-fungible tokens (NFTs).

To sell .eth domains, users must first connect their wallet and register an address at manager.ens.domains, then list it on their account.

Since its inception in 2017, there have been over 1.67 million .eth domain name registrations across approximately 482,000 owners.

More than 154,100 registrations were made between July 5 and July 18 due partly to lower gas fees and continued interest from entities looking to join the Web 3 space. So far, the ENS collection on OpenSea has seen a cumulative trading volume of around 46,200 ETH ($71.5 million).

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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