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Ethereum Naming Services (ENS) are very popular in the blockchain industry. As if it needed proof, ENS tops the list of the most traded assets. high seas.
For an asset class that operates in the same market that is home to blue-chip assets like the Bored Ape Yacht Club, this is no small feat.
This new feat was reported last week when transaction volumes for these naming services increased by 170%. 2,305 Ethereum Across 9,000 domains sold. For comparison, Bored Ape Club only earned him 2,126 ETH over the same period.
There are several reasons for this surge in trading volume. beginning, ENS addresses are very affordable Some cost less than $20. It also has a utility behind it as it allows users to create .ETH accounts and link wallets to them. means that you can send and receive funds from
Obviously these ENS The address meets the needs of the market and will continue to rise further as the Ethereum merger is imminent.
“Near-term mergers and the recent market downturn have pushed Ethereum gas prices down, making ENS registration more affordable.ENS Executive Director Khori Whittaker said in a statement to Decrypt.
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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
