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Tuesday, December 6, 2022

Ethereum ENS Domain Names Top Bored Apes On OneSea’s Weekly

ENS domains have topped OpenSea‘s seven-day trade volume chart ahead of the forthcoming Merge.

On the weekly chart of nonfungible token (NFT) marketplace OpenSea, Ethereum Name Service aka ENS domain names have eclipsed Bored Ape Yacht Club (BAYC) as the most traded asset over the previous seven days, presumably ahead of the Ethereum Merge.

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OpenSea statistics indicate that at the time of writing, the weekly volume of the Ethereum’s ENS domain NFTs exceeded 2,249 Ether (ETH), surpassing RTFKT Clone X’s 1,992 ETH and Bored Ape Yacht Club’s 1,777 ETH.

On the Ethereum blockchain, ENS domains are a distributed, open, and extendable naming system that lets users turn a lengthy list of crypto address keys into a single domain, such as “vitalik.eth.”

Ethereum’s ENS Domain Tops OpenSea’s Weekly Chart: 

To transfer and receive cryptocurrency, users no longer need to copy and paste a long wallet address; instead, they share their domain name, just like they would any other address. Users can buy, sell, and trade these domain names using NFTs.

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The average price of ENS products has increased 167% to 0.3895 ETH, or $641 at the time of writing, as a result of the recent surge in ENS trading activity, while daily volume has increased from 120.7 ETH to 1044.6 ETH.

More than 508,000 users currently possess more than 2 million ENS products on OpenSea, and 2,682 domains have been sold.

The most expensive ENS domain names, according to OpenSea, are 000. eth, which was purchased for 300 ETH and is currently being offered for sale for 5,000 ETH, together with the open sea. Eth, crypto. Eth, google. Eth, and Nike. Eth.

September’s promising start comes after an exceptional sales month for ENS in August, which saw more than 300,000 new “.eth” registration and quarterly revenue of 2,744 ETH, the third-highest month since ENS’s founding in 2018.

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