The number of registrations for the Ethereum Name Service (ENS) has never been higher

In parallel with the announcement of a date for The Merge, the enthusiasm for domain names at the Ethereum Name Service (ENS) has never been stronger. Therefore, in this month alone, ENS registered over 378,000 new registrations and broke the sales record, for a total of 5,400 ETH, or about 8.8 million dollars.

The Ethereum Name Service is on the rise

According to a tweet from theEthereum name service revealing the monthly data relating to the last Julythe number of registrations of โ€œ.ethโ€ domain names. it has never been higher.

According to the data presented here, more than 378,000 domain names were registered with the Ethereum Name Service in July. Additionally, ENS reveals that it recorded over 5,400 ETH in revenue (or approximately $ 8.8 million) in the same month, making it the period the most profitable since its creation.

In total, the Ethereum Name Service signs up 1.87 million domain names โ€œ.Ethโ€ for just under 510,000 unique subscribers. The total number of ENS memberships thus reaches more than 28,000 ETH, or approximately 47 million dollars.

This success can be safely attributed tocalendar announcement related to the long-awaited Merge update that will move the Proof-of-Work (PoW) consensus blockchain. proof of participation (PoS), which is scheduled to be implemented on the mainnet on September 19, 2022.

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A growing interest in ENS over the long term

According to Khori Whittakerthe executive director of True limited namesenthusiasm for the ENS sectors is also synonymous with growing success thanks to the efforts of various Web 3.0 communities. Here is what he said about it in an exchange with our colleagues at Decrypt:

“There is an extremely active and passionate ecosystem of ENS supporters, who are independently and organically building sub-communities and spreading awareness of the possibilities offered by ENS domains.”

A logical but interesting fact, according to Khori Whittaker, the experiences of the ENS recording peaks in the periods in which the Ethereum’s transaction fees are at an all-time low. It is also seeing new success with various communities around the world, most notably in the Arabic and Spanish-speaking countries.

In any case, the ENS token could observe a increase from mid-July, program announcement period for The Merge. Therefore, in the past 30 days, the token has been able to trace back from the order 86.2%, bringing it to the current price of $ 16.47.

ENS token

ENS course in 30 days

The use cases of ENS domains are manifold, for example they can be exchanged as non-fungible tokens (NFT) or even redirect to a wallet, a much simpler method than the usual non-storable addresses.

๐Ÿ‘‰ In the Ethereum News: According to Vitalik Buterin, Ethereum (ETH) will be able to reach 100,000 transactions per second

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