In the past week, Ethereum Name Service (ENS) saw a huge spike with 108k domain registrations from which 64,000 names were created on the 3rd and 4th of July alone. Back in November 2021 Nick Johnson, Lead developer of ENS put together an ENS dashboard from where we were able to fetch this data which shows this 200%+ spike. On 3rd July alone ENS made $684,174 in revenue compared to other days.
Delphi Digital has examined this huge spike in the ENS and posted all the pointers related to it in their recent tweet:
0/ What has caused the huge uptick in ENS registrations?
In today’s Delphi Daily, we examined the recent ENS spike, potential DAO fundraising options, and a deep dive on @breederDAO.
For more 🧵👇 pic.twitter.com/otMT81Y0L4
— Delphi Digital (@Delphi_Digital) July 5, 2022
This spike in down trends of the crypto market shows that the potential of the crypto market never real shatters and has a lot of potential to it. Recently 000.eth was sold for over 344k USD (300 ETH) on July 3, 2022, and followed with ٠٠٠.eth which was bought for 100 ETH ($114,534) on July 4, 2022.
ENS has seen such great spikes back in April when $3 million were made in revenue just in a week’s time with many 3 and 4-digit ENS names starting to trend after twitter users found they had fixed supply such as 123.eth or 1234.eth.
OpenSea also saw a massive spike in ENS domains in the past week soaring above 300%. ENS has managed to get the number 1 ranking in OpenSea this past week with a $7.9 Million (6,900 ETH) trade taking Otherdeed NFT to second place. ENS floor price also got a little spike this past week from 0.004 ETH to 0.007 ETH.
