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200% Surge in Ethereum Name Registrations amid low gas fees

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ENS domain registrations have spiked over double from 11,042 to 29,727, as the 00.eth domain was bought for 300 ETH.

The ENS dashboard, created by Nick Johnson as a data tracker, indicates that the registrations spiked over 200% over the weekend. Happening during a large .rth domain sale, the domain 000.eth was bought for 3000 ETH or around $320,000. 

The purchase caused ENS’s daily revenue to increase up to $684,174 at the time of sale. Afterwards, domain registrations peaked at 34,357 on Monday. This put ENS at a 7 day top for NFT collection sales on Dapp Radar. 

The ENS sale also sparked a lot of engagement on social media with Lunar Crush experienced increased engagement by 108.4% within 7 days. 

Ethereum average gas fees also fell to $1.57 conveniently as the ENS domain registrations spiked. This price point has not been seen since 2020.

The Gray Glacier hard fork went live Thursday Jun 30th. Beiko, the leader of the Ethereum Foundation said that the fork was a success, noting that all nodes were in sync.  The sepolia testnet is also set for a merge trial in the coming days as Ethereum prepares its platform for the merge. 

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