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1M ENS names validated and the ENS’ April 2022 report card states…

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Source: Unsplash

Sales of Ethereum Name Service (ENS) domains have skyrocketed. At current market prices, the base price for a four-digit ENS domain name is around 0.5 ETH, which is over $1,450. Ethereum users rushed to purchase scarce three- and four-digit names. Furthermore, the number of eth. name registrations saw a spike post 21 April.

April 2022 Report Card

At the time of writing on 2 May, the top NFT project, ENS gained around a 100% surge in the past 24 hours. In fact, in just a week, it soared to around 4400% as per data on OpenSea.

ENS reached the impressive ‘1M ENS’ names milestone as highlighted in the 2 May tweet.

Now, moving on from the current price to the past one, ENS has recorded impressive statistics. It showed around 163k new registrations (total ~990k names). Dune Analytics’ insight below highlights the same.

Source: Dune Analytics

In addition, 38k new eth accounts with at least one ENS name (total 387k) got created, and more than 4,000 ETH in secondary, on OpenSea in April, this year.

Overall, the ENS team on 2 May showcased or rather summarised April 2022 report card. Fair to say, the results came out with flying colors.

Continuing the trend, The ENS NFTs saw a surge in volume recently. In fact, this craze caused the daily trade volume, on 28 April, to surpass that of the Bored Ape Yacht Club (BAYC) on NFT marketplace OpenSea.

Nothing in excess is good

Needless to say, the project has received significant traction within the blockchain community. It’s here to be noted that the app.ens.domains website crashed the past week and led users to a 404 error page because the website couldn’t be found on the server. However, on Thursday, the ENS team tweeted multiple times that they are working to resolve the issue.

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Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.

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