Ahead of Ethereum’s upcoming Merge, the number of Ethereum Name Service (ENS) domain registrations has skyrocketed. The total number of users registered in 2022 touched 1.89 million.
Ethereum Name Service is a name and look-up service built atop the Ethereum blockchain. It allows crypto users to create a human-friendly and easy-to-memorize Ethereum wallet address, like Jacob. eth.
Last month (July 2022), as many as 3,78,000 new .eth names were added to the Ethereum blockchain.
It also translated into higher revenue, with the protocol earning 5,400 worth of Ether, roughly around $6.8 million, during the month. All of which will go to the project’s DAO.
The number of ENS domain registrations has witnessed explosive growth since the start of this year. In February and March, the total registrations were 67,095 ENS and 85,272 ENS respectively. In May, 3,65,652 registrations were completed—328% more than the preceding month. (However, the count dropped to 1,22,237 ENS in June.)
With the increased investor interest in the context of the merger, the ENS ecosystem is also witnessing an increased level of activity. ENS token is one of the top-performing cryptos in the current bear market, and its price has skyrocketed by close to 80% in the last month.
FAQs
How many unique ETH addresses are there?
As of the latest available data, the total number of unique Ethereum addresses is dynamic and subject to change. Ethereum’s blockchain has witnessed cumulative unique addresses, new unique addresses per day, and active addresses, contributing to the overall count. For the most accurate and up-to-date information, it is recommended to refer to various sources that track Ethereum addresses, such as YCharts, Etherscan, Statista, Glassnode Studio, and Coincarp. These platforms provide insights into cumulative unique addresses, new addresses created daily, and additional details on Ethereum address statistics.
Why is ENS pumping?
Price Predictions: Various price predictions, such as those from Binance, CoinMarketCap, and CryptoBullsClub, suggest positive trends for ENS, with expected prices ranging from $27.13 to a high of $72.82 by the end of 2023.
Market Trends: Positive market trends and indicators are influencing the perception of ENS, leading to increased investor interest and buying activity.
Potential Catalysts: Despite expectations of a decline in ENS prices in the short term, certain catalysts, particularly in 2024, may contribute to the overall positive sentiment and pump in ENS.
TechNewsLeader Prediction: TechNewsLeader predicts a potential surge in ENS, suggesting a maximum price of $31.14 within a year, contributing to positive speculation and trading activity.
December 2023 Prediction: A specific prediction for December 2023 indicates a potential highest price of $13.09 for ENS, further influencing market dynamics
What are ENS addresses?
ENS addresses, or Ethereum Name Service addresses, are a decentralized and open naming system built on the Ethereum blockchain. They serve a similar purpose to traditional Domain Name System (DNS) addresses on the internet but are specifically tailored to the needs of the Ethereum ecosystem.
What is the benefit of the ENS domain?
ENS domains enhance the user experience, promote accessibility, and contribute to the broader adoption of blockchain technology by providing human-readable, decentralized, and versatile naming services in the Ethereum ecosystem.
