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What’s In A Name? Ethereum Domain Name Sales Climb 2,300%

Ethereum domain name sales have shot up to a colossal 2,300% with many big names like Vitalik Buterin (vitalik.eth), Paris Hilton (parishilton.eth), and the like rushing into the hype of buying the 3-digit domain identities.

The exclusivity and simplicity that Ethereum Name Service (ENS) domain names have is what makes it irresistible and enticing to many users.

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What is ENS?

The Ethereum Name Services (ENS) shortens long-winding and cumbersome crypto addresses into short and sweet URLs. ENS is under the Decentralized Autonomous Organization (DAO) established in 2017 which has no centralized government.

Nothing beats simplicity. And it’s the main selling point of Ethereum domain names.  ENS domains are three- to four-digit names that would end in “.eth”. It’s easier to read and remember than having to memorize or keep a tab of long and ambiguous strings of words.

Each domain name is a minted NFT that is sold just like any other regular NFTs.

ENS – Universal URL

ENS names are said to be the game-changers in creating decentralized, simple, and universal key or URL logins that is a great alternative to using traditional Ethereum wallets.

Many celebrities, entrepreneurs, and public figures are proudly using their ENS names as Twitter handles.

The minimum number for ENS names is three and it’s the coveted number for many users. It’s important to note that only ENS names can be registered to an ETH wallet.

Crypto total market cap at $1.68 trillion on the daily chart | Source: TradingView.com

Tuesday saw the massive uptick or surge in terms of sales at around $1.3 million in just 24 hours.

ENS started with around $700,000 in sales from April 14 to April 21 and followed by a surge on April 22 to 27 at $3 million.

There was an astounding 119% increase in .eth name registrations.

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The Elite Ethereum 10K Club

Numeric ENS names have also been popular. Some buyers purchase ENS names after the amount they bought it for like 999.eth if they bought it for 99.9 ETH. Three-digit ENS names would usually be set for 6 ETH or equivalent to roughly around $17,000.

Similarly, if your CryptoPunk is number 3200 then you would be drawn to 3200.eth. Most NFR collections are numeric which is why ETH names in numbers are so hyped nowadays.

The top-grossing NFT collections that are numbered include Moonbirds, Bored Apes, Clone X, and Azuki.

A lot of NFT collectors are speculating as early as now on ENS subdomains. ENS names have a fixed or limited supply of only 10,000 domains which is why many people are trying to grab their own ENS while they still can to be a part of the elite and exclusive 10k Club.

Featured image from Coin News, chart from TradingView.com

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You Can Now Use Your .COM Domain As An Ethereum Wallet Thanks To This Integration

Ethereum is the second-largest cryptocurrency in the market. Its popularity has led to a number of integrations to make transactions easier for its users. Even upgrades like ETH 2.0 are working towards this same goal. Ethereum wallets are not hard to get or operate, as long as one understands how cryptocurrencies work. But instead of having to paste your wallet address to receive payment in ETH, what if you could just receive the coins to your website domain?

A new integration has made this a reality. Now, owners of a .com domain name can use their domains as an Ethereum wallet. Domain name holders will be able to send and receive ETH coins using their .com domains. Ethereum Name Service (ENS) and Domain Name System (DNS) will allow .com domain addresses to effectively operate as Ethereum wallets.

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Running An Ethereum Wallet With A Domain

ENS domain names are the domains that end in a .eth. These domain names have also functioned as Ethereum wallets since their inception. ENS supports top-level domains (TLDs), but instead of creating more TLDs like the .eth, ENS moved in favor of integrating with the currently existing DNS namespace.

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The integration will allow owners of DNS second-level domain names, that is domain names with a single dot in them, to use the same name on ENS. So a .com website name will still maintain the same exact name with a .com at the end but still work in ENS. For example, Newsbtc.com will still remain Newsbtc.com after it is imported into ENS.

After the owner finishes the importation of the DNS second-level domain name into ENS, they can then proceed to set ENS records for it. This will allow the owners to receive ETH payments. Using the domain names as a wallet.

Not The Only Crypto

Ethereum is the most popular cryptocurrency sent and received using ENS domains. This is due to the prominent TLD on ENS being the .eth. But it is not the only crypto that can be accepted using ENS. ENS domain owners can receive native assets from over 100 blockchains.

A domain owner can add an address from a particular blockchain, say Cardano, and then they will be able to receive tokens that are native to that blockchain. In this case, if an owner adds a Cardano wallet to their ENS, then they would be able to receive ADA through their domain name.

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Interestingly, owners can also receive NFTs using their domain names. For a blockchain like Ethereum, when an ETH address is added to the domain name, the user can receive an NFT that lives on the blockchain through their domain name.

The ENS team believes that integrating existing DNS instead of just adding ENS-native TLDs would give the project the best shot at long-term success.

ETH price trends above $3,000 | Source: ETHUSD on TradingView.com
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