Ethereum domain names top Bored Apes on OpenSea’s weekly chart

August 2022 stats for ENS – 301K new.eth registrations (overall 2.17 m names) – $4.7 m in protocol revenue (all goes to the @ENS_DAO) – 2,744 ETH in earnings (3rd highest month) – 34K brand-new eth accounts w/ a minimum of 1 ENS name (overall 540k) – > 99% of OpenSea domain vol pic.twitter.com/utU8i4cBMT
— ens.eth, September 1, 2022 (@ensdomains).

ENS domains permit users to convert a long string consisting of secrets for a crypto address into a single ENS Domain such as “vitalik.eth”.

OpenSea 60-Day Average Price Variation for ENS Source: OpenSea.

This minimizes the effort of copying and pasting long wallet addresses to send out and receive crypto. Users simply need to share their domain names as any other address or identification information.

Recent spikes in ENS trading volume have seen the typical price for ENS products rise 167%, from 0.1454 ETH approximately 0.3895 ETH ($ 641); day-to-day volume has actually risen from 120.7 ETH to 1044.6 ETH.

The Ethereum Call Service (ENS), domain names, has actually exceeded Bored Ape Yacht Clubs (BAYC), as the most traded possession on OpenSea NFT market OpenSea in the past 7 days– possibly ahead of the Ethereum Merge.

OpenSea data reveals that the weekly volume for Ethereum domain NFTs went beyond 2,249 ETH since the time of composing. This vanquished RTFKT Clone X (1.992 ETH) or Bored Ape Yacht Club (1.777 ETH).

This spike in ENS domain demand happens around a week prior to the scheduled date for the Ethereum Merge, which will be held Sept. 15.

These domain are available for sale, purchase and trade in between users utilizing NFTs.

After an August that saw over 300,000 brand-new “. eth” registrations and a regular monthly earnings of 2,744 ETH (the third-highest regular monthly income since ENS was developed in 2018), Septembers strong start is a continuation of ENSs impressive sales month.

OpenSea now has more than 2 million ENS products, distributed amongst 508,000 owners. Overall sales are presently at 2,682 ENSdomains.

OpenSea reports that 000. eth is among the most important ENS domain names. It was purchased for 300 ETH and is now on sale for 5,000 ETH.

Related: Ethereum Name Service registrations increase by 200% amid lower gas rates

OpenSea reports that the average cost of an ENS domain expenses 0.3207 ETH.
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What cost should somebody pay to protect 100-year ownership of a 5-letter domain?
— vitalik.eth (@VitalikButerin) September 4, 2022

According to the survey, 49.8% of the 91.130 respondents elected “Under $100”, while 18.9% voted that “$ 10,000 or More” could be thought about fair over a 100 year period.

Vitalik Buterin, a tweeter of 4.2 million followers, requested for a rate quote on a five-letter ENS domain. This was to be used over a 100 year duration.

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