Ethereum Name Service (ENS) saw lifetime record domain registrations in 2022 amid a broader market frenzy that saw some traders treating the domains as investments. By shauryamalwa
Ethereum Name Service saw lifetime record domain registrations in 2022 amid a broader market frenzy that saw some traders treating the domains as investments.
ENS is a decentralized domain name protocol that runs atop the Ethereum network. It provides users with an easily readable name such as “abc.eth” instead of a complex, long-form alphanumeric address for their crypto wallets, similar to the way the Domain Name System substitutes memorable names such as"Data from Dune Analytics show over 630,000 unique wallets created 2.82 million domain names, with 459,000 of those classified as “primary names.
September saw the most ENS registrations at over 430,000 unique domains while December recorded the lowest at just 52,000 domains, the data shows. The month of May, however, saw the most new users at over 64,000 Some ENS buyers treat the names as investments, purchasing popular and common names and selling them for a profit, research firm Delphi Digital
last year. At the time, “000.eth” was sold for a record 300 ether, fueling interest in three-digit ENS names as “traders tried to capitalize on the hype,” as per Delphi analysts.
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