Latest Posts

ENS Domain Registrations Skyrocketed Last Month, Total Names Created Nears 2 Million

- Advertisement -


The number of Ethereum Name Service (ENS) domains is approaching the two million mark as 1,888,209 ENS names have been inscribed on the Ethereum blockchain to date. The project recently reported that July saw its largest monthly revenue growth of 5,400 Ether worth approximately $2.48 million during the month.

ENS registrations skyrocketed last month with 378k names engraved on the Ethereum blockchain

- Advertisement -

ENS This week, the number of names is approaching the two million mark, as the number of registrations has risen steadily for several months. Data from Dune Analytics indicates that after 67,095 ENS registrations in February, that number increased to 85,272 ENS registrations the following month.

- Advertisement -

May saw a significant surge reaching 365,652 registrations, up 328% from the previous month. In June, the number of ENS registrations was much lower as statistics show that 122,327 names were registered that month. July, however, was a completely different story as there were 378,804 ENS registrations in 31 days.

- Advertisement -

On the first day of the month, 1.86 million names were registered on the Ethereum blockchain, and today there are 1,888,209 ENS names on the chain. Official ENS Twitter account tweeted on the milestones of July and noted that the revenue from the protocol was $6.8 million, all of which will go to the project’s DAO.

ENS domain registrations skyrocketed last month, with total number of created names approaching 2 million
Total number of ENS names created as of August 3, 2022, as measured by Dune Analytics.

The protocol was 5400 Ethereum according to the official Twitter account. ENS domain names are similar to the Internet Domain Name Service (DNS), but the project architecture adds an extensible naming system built on top of the Ethereum blockchain. Like DNS, the Ethereum name service uses hierarchical names (domains) separated by dots, and owners can also use subdomains.

ENS names can also act as an address for Ethereum and other cryptocurrency addresses, but instead of a long string of alphanumeric characters, it can be a machine-readable name such as bob.eth. There are other blockchain projects that operate naming services on alternative chains, such as Bonfida. Solana Name Service and Terra once had a popular naming service platform called TNS before the Terra blockchain project collapsed.

ENS Governance Token Has Dropped 80% Since The High Price Of The Coin, The Project Is Printing 50 Limited Edition Copies Of The ENS DAO Constitution In A Case

ENS also has a Decentralized Autonomous Organization (DAO) for governance decisions and a native ecosystem token that is currently exchangeable from hand to hand at a price of $16.24 per unit. Crypto token ethereum name service (ENS) There are about 25.78 million ENS coins in circulation. ENS is ranked 114th among over 13,000 existing crypto assets and has a market capitalization of around $418.30 million.

While ENS has gained 9% in the last 24 hours, the crypto asset has fallen by 80% from the all-time high of the token price nine months ago on November 11, 2021. On February 14, 2022, ENS hit an all-time low of $7.45 per coin.

Statistics based on Intotheblock.com show that the concentration of large holders of ENS tokens is 86% compared to Bitcoin (BTC) 10% concentration of large holders. Over the past seven days, $41.60 million worth of ENS transactions have been recorded on the Ethereum blockchain, exceeding $100k. Data from cryptocompare.com shows that the largest trading pair with ENS is tether (USDT), as the stablecoin accounts for 79% of ENS trades on August 3rd.

ENS domain registrations skyrocketed last month, with total number of created names approaching 2 million
The constitution of the ENS DAO was published and the team made a limited edition of 50 physical copies of the constitution of the decentralized autonomous organization.

USDT followed by BUSD at 7.94%, USD at 5.09%, USDC at 2.37%, TRY at 1.90% and BTC capturing 1.54% of all ENS swaps. While ENS saw a significant spike in ENS registrations in May, the spike recorded in July resulted in a significant drop in registration fees as Ethereum’s median and average data transfer fees were the lowest in recent months.

ENS has just published the DAO constitution with 48,823 signatures, which is available digitally for free, and the project has printed a set of 50 limited editions in a slipcase.

What do you think about the ENS project approaching the 2 million mark, of which 1.88 million are registered today? Let us know your thoughts on this in the comments section below.

Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.





Credit : news.bitcoin.com

- Advertisement -

Latest Posts

Don't Miss