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    Home » News » ENS Sales Are Popping Off: Here’s Why

    ENS Sales Are Popping Off: Here’s Why

    By Bishal Kumar ChandaMay 17, 2022Updated:January 30, 20232 Mins Read

    Driven by the popularity of 10kClubOfficial, the ENS sales have started to skyrocket since April. In fact, winnersclub.eth registered the one-millionth ENS name yesterday. So, let’s take a quick look at some of the key insights into this ENS bullrun.

    Brantly ENS
    Ethereum Name Service sales skyrocketed in April and May.

    ENS Domain Sales At An All-Time High

    In April, people spent 2492 ETH ($7.3M) registering ENS domains and 169 ETH ($510k) on renewing them. Thus, bringing the ENS DAO a total of 2660 ETH ($7.8M) in revenue. In fact, the DAO token currently has 57.5k token holders and a fully diluted market cap of $1 billion. 

    ENS sales and renewal in April, 2022
    ENS sales and renewals bring ENS DAO a total revenue of $7.8 million. Credit: Dune Analytics.

    Meanwhile, 41% of all secondary ENS market sales were four-digit numbers, and 2% were three-digit numbers. In fact, people minted out all 100k 5-digit ENS domains on May 6th, 2022. 

    Moreover, the monthly secondary market trading volume of ENS domains hit a new all-time high of $16 million in April. Furthermore, it will bring a new all-time high with over $55M of trades already in May!

    ENS secondary market trading volume
    ENS is set to bring a new all-time high in secondary market sales. Credit: Dune Analytics.

    Currently, there are over 406k unique addresses that have ENS domains registered. Also, this number excludes expired names that are still in their 90-day grace period for renewal.

    At the time of writing, people have minted over 1.1 million ENS domains. In addition, with over 386k owners, ENS domains have a total secondary sales volume of 29.6k ETH. 

    What are ENS domains?

    Ethereum Name Service or ENS is a name lookup service built on the Ethereum blockchain. In brief, ENS domains are Web3 usernames that connect all your websites and addresses under a single name.

    Read our detailed guide on Ethereum Name Service for more information on ENS.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

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    Bishal Kumar Chanda

    Bishal is a freelance writer and a digital nomad. He loves thinking, learning, and writing about all things crypto, particularly its impact on major industries. Stay tuned as he brings you more news from the fast-paced world of NFTs.

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