Ethereum

Ethereum Name Services Registrations Surge 216% In 7 Days


Ethereum name services registrations increased by 216% in only a week and the secondary sales on Opensea surpassed $7.9 million in the same time frame so let’s read more today in our Ethereum latest news.

The Ethereum Name Service registrations saw a surge over the weekend with 64,000 .eth names being created over the weekend. In the past week, 108,000 ENS domains were registered which marks a 216% increase according to the data published by lead ENS developer Nick Johnson which brought a spike in revenue. The ENS made $684,000 which is a half a million dollar increase comapred to the preivous day. The ENS manages the issuance of .eth domain names that are built on Ethereum and sold as NFTs and can also be linked to one’s crypto wallet.

If the recent surge in sales is an indication, the ENS domain name craze didn’t fizzle out just yet. Non-roman character names also saw some interest with some selling for 100 ETH on Monday. The secondary sales of ENS domain names on OpenSea also saw a huge spike that surged over 300% in the past week and the ENS is the top-ranked collection on Opensea which saw over 6900 ETH in volume traded.

This is not the first time that ENS sales surged overnight. Back in April, three and four-digit ENS domain names started trending when a Twitter user realized that these domains had a fixed supply and made the holders members of the  10K Club as a result, the ENS saw about $3 million in revenue in less than a week.

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Image nick.ethENS

As recently reported, Twitter got on fire as Ethereum name services have just airdropped its DAO token, a new governance token on the existing name registrants. Most users were excited as some name holders raked in huge gains from its fast appreciating value. The director of operations at ENS Brantley.ETH announced and explained the recent airdrop and in the name of decentralization explained that the team will pass ENS governance over to the company via their new governance token and since then, a lot of community members could start applying to become ENS delegates.

People didn’t need to apply to receive the airdrop but the governance tokens were airdropped to those that purchased at least one ENS domain. Brantley also encouraged the holders which had no intention of voting on their own to offer their tokens to the delegates. Over Twitter, he confirmed later that over 137K accounts were eligible for the airdrop with no investors having to make the cut.

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