The cryptocurrency market is not going through, in general, its best moment. But there are some exceptions and Ethereum domain trading, or ENS, seems to be one of them. This week, there was record sales of domains with the extension “.eth”.
According to portal data Open Seain the last seven days, 2 of the 3 most expensive domains in history were sold. The first of them is 000.eth, sold for 300 ETH (more than USD 300 thousand). The second is porno.eth, with a value of 184 ETH (more than USD 203 thousand). It is worth clarifying that ETH is code for ether, the cryptocurrency of the Ethereum network.
The boom in Ethereum domain names happened spontaneously, fueled by the Bored Ape Yacht Club’s collection of non-fungible tokens (NFTs). Every “boring monkey” (translation of “bored ape») is accompanied by a 1,2, 3 or 4 digit number.
For example, who owns the Bored Ape 363, consequently I would be interested in the 363.eth domain, explains the Airdrop Alert portal.
Given the growing interest, and the fact that each person can register the domain they want, as long as it is availablelast may more than 300 thousand domains were registered. That marked a record month, followed by April in which 160,000 ENS domains were registered.
3-digit ENSs are among the most expensive domains. After 000.eth, it is followed by 003.eth, with a selling cost of 83 ETH, and 005.eth sold for 50 ETH.
Another of the domains that have been of great interest is that of brands or words, as is the case of porno.eth. ENS with important brand names as is the case of Google.eth, sold for 52 ETHthey are also usually traded for quite high prices due to the interest they represent.
ENS is a system that allows Ethereum users to use easily memorized specific names, instead of wallet addresses. If a user has the ENS username.eth registered to her address, they can share their ENS to receive funds. Work is currently underway so that ENSs can also serve as web domains similar to “.com”.
July aims to be a good month for ENS, despite the crypto winter
With Ethereum trading above $1,000 (a drop of almost 70% since last May, when it hovered around $3,500), it could be assumed that everything related to this network is in a tailspin, but the ENS shows otherwise.
According to sample According to the OpenSea chart, while the number of ENSs traded has remained average, the average number of domains traded in a day has been steadily increasing since the end of June.
On July 3, there were over 6,000 ENS sold on OpenSea alone, costing an average of 0.4 ETH. These levels have not been seen since last May, whose record marked more than 9,000 ENS exchanged.
It should be noted that these statistics refer to ENS traded only on OpenSea. Each person can register, as shown by CriptoNoticias, their own domain from the official website of the Ethereum Name Service, whose price is around 0.014 ETH (approximately USD 15).