Ethereum Name Service Demand Hits Record Highs
In July, the number of registrations in the Ethereum Name Service ( ENS ) domain name system increased by 378 thousand, to 1.87 million. Other metrics of the service also showed a record increase.
Behind the project’s development, ENS Domains received an income of 5400 ETH (~$8.8 million). Sales volume almost doubled compared to June.
The number of owners of at least one ENS domain has exceeded 48,000.
User activity intensifies as the migration to the Proof-of-Stake consensus algorithm approaches as part of The Merge update ( expected September 19 ).
Corey Whittaker, CEO of True Names Limited behind ENS Domains, told Decrypt that the uptick in activity was also due to the ecosystem strengthening. Members create communities and share information about ENS use cases, he says.
Among other factors, the specialist mentioned a decrease in gas prices and an increase in the service’s popularity among non-English-speaking users, primarily those who speak Spanish and Arabic.