With many prominent names like Paris Hilton (parishilton.eth), Vitalik Buterin, and Paris Hilton (vitalik.eth), Ethereum domain sales are up by a massive 2,300%.
Many users find Ethereum Name Service’s domain names irresistible because they are simple and exclusive.
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What does ENS mean?
Ethereum Name Service (ENS) reduces the length of long and complex crypto addresses by converting them into shorter URLs. ENS was created under the Decentralized Autonomous Organization in 2017. It has no centralized government.
Simplicity is the best. And it’s the main selling point of Ethereum domain names. ENS domains are three- to four-digit names that would end in “.eth”. It’s easier to read and remember than having to memorize or keep a tab of long and ambiguous strings of words.
Every domain is an NFT that has been minted and is available for sale just as any regular NFT.
ENS – Universal URL
ENS name are said to have the potential to change everything by creating universal keys or decentralized logins. It is a good alternative to traditional Ethereum wallets.
Celebrities, entrepreneurs and other public figures proudly use their ENS addresses as Twitter handles.
The minimum number for ENS names is three and it’s the coveted number for many users. It’s important to note that only ENS names can be registered to an ETH wallet.
Source: TradingView.com| Source: TradingView.com
Tuesday witnessed a massive increase or surge in sales of approximately $1.3million in 24 hours.
ENS began with approximately $700,000. It was followed by a spike in April 22-27 at $3,000,000, which saw ENS sales increase to over $1 million.
It was amazing to see an 119% rise in the number of.eth registrations.
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Elite Ethereum 10K Club
Popular ENS names that are numeric have been also popular. ENS names are often purchased by buyers based on the price they paid for it, such as 999.eth if it was 99.9 ETH. ENS names of three-digit length would normally be bought for 6 ETH (or equivalent to approximately $17,000).
Similar to the above, you will be drawn to 3200.eth if CryptoPunk number is 3200. Numeric collections make up the majority of NFR collections, so ETH names with numbers are very popular.
Moonbirds (and other NFT collections) that have been numbered are Clone X, Bored Apes and Azuki.
Many NFT collectors have been speculating on ENS subdomains as far back as the early 2000s. ENS names are limited to 10,000 domains. Many people try to secure their ENS before they’re gone. 10k Club.
Featured image taken from Coin News. Chart by TradingView.com