The Ethereum Name Service (ENS) has just crossed one million registered domain names, which is a significant milestone for the company.
Users can utilize ENS domain names to represent conventional addresses like hashes, wallet addresses, and website URLs in a simplified manner using the .eth alias.
ENS Domain Names Surge Above One Million
According to recent data from blockchain analytics firm Dune Analytics, the number of ENS registered domains have reached 1,053,081 names. Out of the total domain names, 35,444 were registered within the first two days of May 2022. April saw an all-time high in the number of registered domain names as it capped a total of 162,978 names.
There has also been an increase in the number of ENS domain names that have been renewed monthly. In January, a total of 6,073 names were renewed, whereas March saw a total of 9,270 names renewed, representing a 40% increase. Due to the ongoing frenzy surrounding the ENS domain names, the total number of .eth renewals could reach new highs in the future.
ENS Domain Name Sold for $160,000
The ENS milestone comes amid the ongoing craze in the NFT community over the past few weeks. NFT investors have been purchasing ENS domain names as part of a so-called “10k club.” This has led to the selling out of all ENS domain names from 1.eth to 9999.eth.
A few days ago, Coinfomania reported that a Chinese collector bought a domain address dubbed 555.eth. The ENS domain name was sold for 55.5 ETH which is currently worth over $160,000. The sale currently represents the most expensive domain sale ever sold as NFT.
Meanwhile, the growing demand for ENS domain names has bolstered the price of ENS, the project’s governance token, which was originally airdropped to early adopters. At the time of writing, the token was trading at around $24, representing a 34% significant increase from its price last week.
