According to Dune Analytics statistics, Ethereum Name Service (or ENS) has exceeded a million names created this week. Data shows that there’s been a significant spike in ENS names registered during the last 30 days, and 24-hour statistics indicate ENS has been a top burner in terms of protocols burning the most ethereum.
Over a Million ENS Domain Names Registered — ENS Burns $3.6 Million in Ether
Over 1,000,000 registered ENS domain names have been created. According to metrics, the April number of Ethereum-based domains created saw an increase. 162,978 new names were registered in April, compared to only 85.272 in March. Moreover, during the last few days in May, 71,563 ENS names were registered, which means there’s been significant ENS usage during the past month.
One of the greatest advantages to blockchain-based domain names is that they can also be used for crypto addresses. So instead of having to use a long alphanumeric ETH address, a user can use a human-readable ENS name instead like “bob.eth.” Because an ENS name can be a human-readable ETH address and a domain name at the same time, the ENS protocol leverages two smart contracts.
Dune Analytics statistics show that 7 ENS names whales are currently in existence with more than 1,000 names. The ENS domain hirings.eth currently has 1,514 names and is the most popular ENS whale. Nja.eth however holds 1,444 name. Other ENS whales include misterens.eth (1.106), metax.eth (1.089), ensinvestor.eth (080) and ags.eth (0.045).
While there’s been 1,063,982 names created using ENS, there are 917,685 .eth names and 141,443 subdomains. One million ENS domain names can be split between 393,894 unique ethereum address. ENS is also the operator of a blockchain-based domain services. The project has a native token, ENS. ENS users, prior to a specific date, were airdropped ENS tokens and the coin is used for the project’s governance system.
The web portal ultrasound.money reports that ENS was the most popular ethereum burner in the past 24 hours. The processing of ENS transactions resulted in 1,270 ether being burned, which is equivalent to $3.6 millions worth of ETH. Two-week crypto market metrics further show the project’s native token ENS is up 80% against the U.S. dollar.
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