The number of registrations for the Ethereum Name Service (ENS) has never been so high

In parallel with the announcement of a date for The Merge, the enthusiasm for domain names at the Ethereum Name Service (ENS) has never been stronger. Thus, in this month alone, the ENS observed more than 378,000 new registrations and broke its sales record, totaling 5,400 ETH, or approximately $8.8 million.

The Ethereum Name Service is on the rise

According to a tweet from theEthereum Name Service revealing monthly data relating to the last Julythe number of registrations for “.eth” domain names has never been so high.

According to the data presented here, more than 378,000 domain names were registered with the Ethereum Name Service in July. Additionally, ENS reveals that it recorded over 5,400 ETH in revenue (or roughly $8.8 million) in the same month, making it the period the most lucrative since its creation.

In total, the Ethereum Name Service registers 1.87 million domain names “.eth” for just under 510,000 unique subscribers. The total number of registrations with the ENS thus reaches more than 28,000 ETH, i.e. approximately $47 million.

This success can be attributed without too much risk to thecalendar announcement related to the long-awaited Merge update that will move the Proof-of-Work (PoW) consensus blockchain proof of stake (PoW), whose implementation on the mainnet is scheduled for September 19, 2022.

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A growing interest in ENS over the long term

According Khori Whittakerthe executive director of True Names Limitedthe enthusiasm for the fields of the ENS is also synonymous with growing success due to the efforts of various Web 3.0 communities. Here is what he said about it in an exchange with our colleagues from Decrypt:

“There is an extremely active and passionate ecosystem of ENS advocates, who are independently and organically building sub-communities and spreading awareness of the possibilities that ENS domains offer.”

Logical but interesting fact, according to Khori Whittaker, the ENS experiences recording peaks in periods when the Ethereum transaction fees are at an all-time low. He is also seeing new success with various communities around the world, particularly in the arabic and spanish speaking countries.

In any case, the ENS token was able to observe a increase from mid-July, schedule announcement period for The Merge. Thus, over the last 30 days, the token has been able to climb from order 86.2%, bringing it to its current price of $16.47.

ENS Token

ENS course over 30 days

The use cases of ENS domains are multiple, they can for example be exchanged as non-fungible tokens (NFTs) or even redirect to a wallet, a much simpler method than the usual non-memorizable addresses.

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