A three numeric Ethereum Name Service (ENS) domain dubbed 555.eth has just been sold for 55.5 ETH worth over $160,000. It now holds the record for the most expensive ENS domain ever sold.
Ethereum Name Service (ENS) domains enable users to represent traditional addresses such as wallet addresses, hashes, website URLs, etc. with a simpler format having the .eth alias. ENS domain names can be bought and minted directly from the ENS platform or through secondary trading on exchange platforms like OpenSea.
The domain, 555.eth, was reportedly bought by a Chinese collector who claims to have bought the domain for fun amid an ongoing rush for numeric ENS domains.
Most Expensive ENS Domain Sale Amid Frenzy
The record figures come amid an ongoing frenzy that has engulfed the NFT community in the past few weeks. Many investors are speculating on the future price of numeric Ethereum domain names ranging from 0-9999.eth.
NFT collectors holding four-digit ENS domain names become part of a so-called “10k club” described as a social club for ENS holders 0-9999.” The trend has caused secondary trading volume for ENS domains to surge in the past week. On April 28 alone, the trading volume attained an all-time high of $2.8 million.
(ENS Trading Volume)
The number of newly registered domains has seen a tremendous increase this month. According to Dune, over 139,000 addresses have been registered in April, which is a significant increase in comparison with the 66,900 addresses registered in January.
Meanwhile, the increase in demand for ENS domain names has also rubbed off on the project’s native asset, ENS. The governance token has defied recent market conditions to stay bullish within the past few days. At the time of writing, the token is trading around $16.35, a significant 20% increase in the past week.
Source: https://coinfomania.com/most-expensive-ens-domain-name-nft/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=most-expensive-ens-domain-name-nft