Ethereum Name Service (ENS) Sets New Record With Over 437K New Monthly Registrations

Ethereum Name Service (ENS) Breaks Record With Over 437K New Monthly Registrations

Ethereum Name Service (ENS) users registered 437,365 new ‘.eth‘ domains in September, breaking the previous record of 378,804 set in July.

The influx saw the number of total registrations climb to over 2.6 million, while protocol revenue from registration and renewal fees grew by $5.5 million. Protocol revenue is directed to the project’s treasury for use by the ENS DAO.

Throughout September, ENS also recorded the creation of 35,427 new accounts that registered or bought at least one domain, bringing the total number of such accounts to 572,000. Over the same period, ENS trading comprised 97% of domain volumes on leading NFT marketplace OpenSea.

The record-breaking month was marked by some high-profile partnerships and noteworthy sales. ENS, which is decentralized and built on top of the Ethereum network, partnered with Coinbase to create unique cb.id crypto usernames in order to push ENS adoption even further.

The New England Patriots football team made its Web 3.0 debut, purchasing ‘patriots.eth’ for 75 ETH after partnering with Chain, while Shark Tank investor Matt Higgins bought multiple names for over $100,000 in September alone.

The price chart for the ENS governance token remained relatively unchanged during the 30-day period. According to CoinGecko, the token reached a monthly high of $16.33 on September 9th, but struggled to gain traction from there, instead ending the month at $16.02.

The team behind the Web 3.0 domain service deployed the highly-anticipated ‘NameWrapper’ to the Goerli testnet. NameWrapper is a smart contract designed to wrap ENS domain names as ERC-1155 NFTs, enabling parent domain owners to set permissions and rights for their subdomains, and trade them on the market.

On the Flipside

  • Monthly protocol revenue ($5.5 million) and monthly new accounts with at least one domain (35,427) are down from their all-time highs of $9,567,249 and 62,310, respectively.
  • Total NFT trading volume has crashed 97% from its all-time high set in January 2022.

Why You Should Care

Ethereum Name Service (ENS) is the most widely-used decentralized domain protocol.

Find out the most expensive Ethereum Name Service (ENS) domain names:
Sales Of Ethereum Domain Names Skyrocket on OpenSea Ahead Of The Merge

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Rue Abernai is a blockchain content writer focused on Web 3.0 domains, DeFi, and Ethereum Layer-2s. Rue believes blockchain technology has the potential to transform how we see and interact with society, economy, and culture. Rue spends his spare time hiking, playing with his dog, and reading. He has been active in blockchain and cryptocurrencies since 2020.