Sales of four-digit Ethereum Name Service (ENS) domains skyrocketed last week. At current market prices, the base price for a four-digit ENS domain name is around 0.5 ETH, i.e. over $1,450. This rise also affected the ENS altcoin project. Here are the details…
Ethereum Name Service’s domains are booming
Ethereum Name Service (ENS) .eth namenames ranging from 0000 to 9999 have been getting a lot of attention from NFT investors, enthusiasts and traders lately. attracted attention. Three- and four-digit domains have been around for years, but lately there has been a buying spree for these domains in the secondary markets. The increase in domain sales began on April 21, and the following week the number of .eth name registrations jumped 700 percent from 2,721 to 21,188, according to ENS data from Dune Analytics. OpenSea trade volume for
ENS domains increased to approximately $7.3 million or 2,613 ETH at current prices. This indicates an increase of over 3,000 percent. The most trading activity in the secondary market took place in the last 48 hours. The most expensive domain name ever was “555.eth” which was purchased on April 28 for 55.5 ETH. It’s not just individual users who have recently registered with the Ethereum Name Service. Big brands and companies like Budweiser and Puma have also registered their domain names.
Altcoin price also rose
This frenzy in Ethereum Name Service (ENS) also positively affected the altcoin of the project. The altcoin named ENS has risen from $ 17.48 to $ 22.90 in the last 24 hours. At the time of writing, it changes hands at $19.54 with a 14% increase. Etheren Name Service is a distributed, open and extensible naming system based on the Ethereum Blockchain.
ENS converts human-readable Ethereum addresses like john.eth into machine-readable alphanumeric codes that you know from wallets like Metamask. Reverse conversion is also possible, which associates metadata and machine-readable addresses with human-readable Ethereum addresses.
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