As shown by the data provided by the company Dune Analyticsdomain sale Ethereum (ENS) on OpenSea has grown significantly recently. Users are increasingly looking for rare three or four digit names. The new form of tokenization is becoming more and more popular.
Growing popularity of ENS
Three and four-digit domain names from the group ENS (Ethereum Name Service) they are gaining more and more popularity. With this service, both sending and receiving Ethereum in different wallets becomes much simpler. This is due to the fact that long strings of alphanumeric characters on ETH accounts are shortened, which makes it easier to send transfers in cryptocurrencies.
ENS names are domains ending in ".eth". This converts the Ethereum addresses into a readable string, visible as a URL. They are then traded on the markets as NFTs. One of them is OpenSea. Recently, the issue of the future value of these tokens has been raised quite often.
Privileges for users
The ENS service was launched last fall and met with great interest almost immediately. It covered the system of rewarding users who had registered their addresses before the token was launched.
A decentralized autonomous organization (DAO) is responsible for managing the ENS. ENS token holders have an impact on the further development of the project by participating in voting on the activities to be implemented. This distinguishes them from speculative tokens.
Nevertheless, ENS tokens are also traded by speculators. According to the CoinMarketCap rankings, they are currently on the 143 position on the list of the most capitalized cryptocurrencies. Given the recent gains, its price could go up to as much as $ 100.
According to the data provided by Dune Analysis, the number of domains sold increased significantly in the period from April 21 to 28. Thus, the number of registrations over just a few days increased from 2721 to 21.
The great interest in ENS domains translates into the growing interest in this type of tokenization. The first domain buyers even set up a Discord channel called 10kKlub.