Ethereum Name Service Domain Registrations Hit All-Time High as Merge Approaches #togrp7
Ethereum Name Service domain ownership surpassed 1.8 million names, with 378,000 new .eth registrations in July alone, according to ENS Domains. The surge in registrations comes as the Ethereum community prepares for the upcoming merge next month, which will switch the top blockchain for dapps, DAOs, and NFTs from a proof-of-work consensus algorithm to proof of stake.
In the tweet announcing the record number of registrations, ENS Domains said it saw 5,400 ETH (around $8.8 million) in revenue and 48,000 new Ethereum accounts using at least one ENS name, plus more than 99% of the domain sales volume on OpenSea last month. Whittaker says we would not see the surge in registrations without the efforts of the independent developers in the ecosystem creating marketplaces and other ENS-related apps and groups like the “999 club,” the “10k club,” the “TLC” club and the “100k club,” among others.#togrp7
