Registration in the Ethereum-based domain name system increased by 99%

Representatives of the ENS project, which allows the creation of domain names based on Ethereum, reported an increase in demand for domain registration, all thanks to the approaching date of the transition to the PoS consensus mechanism.

As it became known thanks to ens. eth's post on Twitter, the volume of ENS domain sales increased by 99% in a month on the OpenSea marketplace. As a result of this increased activity, the ENS Domains platform generated 5,400 ETH (about $ 8.8 million) in revenue and 48,000 new accounts using at least one ENS name.

It is worth noting that the 99% increase in registrations in a month is not the only record for the domain name system. Recently, it became known that for the period from June 27 to July 3, the number of registrations in the Ethereum Name Service system amounted to 78,566. Compared to the previous week, this figure increased by 163%.

The ENS naming platform for web3 projects is popular among the crypto community. After all, it allows you to turn long strings of data into easy-to-read and memorable addresses. However, there are also mishaps — for example, an NFT collector registered under the pseudonym Franklinisbored lost 100 ETH due to his own bad joke. In short: the «joker» sold his own domain to an anonymous user for 1.9 ETN (about $ 2,830) — however, he forgot to cancel his bid on the same domain and lost $ 148,900.