New ENS registrations at all-time monthly high in September

ENS address

  • New registrations of ENS domain names at record high in September
  • ENS are used to identify Ethereum wallets

The highest number of Ethereum Name Service address (ENS) new registrations was clocked this month: 429,352 at the time of writing. This comes amid a massive slump in trading volume (-97%) since January. These numbers are published on Dune.com a website that publishes crypto data analyses freely.

What is ENS?

The ENS is a protocol using which a simple name can be used as a wallet address with “.eth” as the suffix. For instance, ENS address of Ethereum co-founder Vitalik Buterin is Vitalik.eth. Ethereum wallet addresses are long strings which seem like gibberish and are hard to identify and memorize. An ENS address is also a Non Fungible Token (NFT). ENS can be found on Opensea, a platform where NFTs are traded.

An Ethereum wallet address may look something like this: 

‘Q34234boiu34kj34kjhboya9yfiouou2134ouqerq873234432oruqoc34qrbjqwer’

But an ENS can be as simple as ‘orange.eth.’

The highest sale of an ENS was done last October – ‘paradigm.eth’ was sold for 420 Ethereum, or ~ $1,490,580 according to the average price in October 2021. Currently, the most expensive ENS is priced at 100,000,000,000,000 ETH or $134,319,000,000,000,000.00.

An ENS domain can be linked with metadata. For instance, a twitter account can be linked to an ENS domain. ENS domains are categorised into the number of digits used for the name. According to CoinGecko, the top 5 most popular categories are ‘10k club (domain with 4 digits); ‘Ethmoji99 club’ (2 emojis ranging from 00-99); ‘999 club’ (characters between 000-999); ‘Single Ethmoji’ (only emojis are used in the domain); and ‘3 letters’ (as the name suggests, domains made of 3 letters).

Source: https://www.thecoinrepublic.com/2022/10/03/new-ens-registrations-at-all-time-monthly-high-in-september/