ENS Sales Are Popping Off: Here’s Why

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.

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. 

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!

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.