Ethereum Name Service Demand Hits Record Highs

Ethereum Name Service Demand Hits Record Highs

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<p>In July, the number of registrations in the Ethereum Name Service (ENS) domain name system increased by 378 thousand, to 1.87 million. Other metrics of the service also showed a record increase.</p>
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July 2022 stats for ENS

– 378K new .eth registrations (total 1.86m names)
– $6.8m in protocol revenue (all goes to the DAO)
– 5,400 ETH in revenue (highest ever month)
– 48K new eth accounts w/ at least 1 ENS name (total 508k)
– >99% of OpenSea domain vol pic.twitter.com/TdD16FOX2d

— ens.eth (@ensdomains) August 1, 2022

Behind the development of the project, ENS Domains received an income of 5400 ETH (~$8 .8 million). Sales almost doubled compared to June.

The number of owners of at least one ENS domain exceeded 48 thousand.

User activity increases as the migration to the Proof-of-Stake consensus algorithm approaches as part of The Merge update (expected September 19).

Coy Whittaker, CEO of True Names Limited behind ENS Domains, in an interview with Decrypt, attributed the surge in activity to the strengthening of the ecosystem. According to him, members create communities and disseminate information about use cases for ENS.

Among other factors, the specialist mentioned a decrease in gas prices and an increase in the popularity of the service among non-English-speaking users, primarily Spanish and Arabic speakers.

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As a reminder, in July developers introduced wrapped ENS domains with enhanced functionality.

Earlier, British actor Anthony Hopkins changed his Twitter username to his own ENS domain.

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