In a tweet ENS.eth has announced that July’s was its highest ever, in terms of revenue. In July. ENS gained 5,400 ETH or $2.48 million. This is significantly higher than the figure of 3,165.85 ETH reported in May. That’s a jump of more than 70% as compared to the figures of May, its erstwhile best month.
ENS (Ethereum Name Service) has continued its brilliant sprint. We had reported how May was the all time best month for the name system. Now, the blockchain company has surpassed its highest figures reported in May, in just 2 months. Yes, July was even bigger than May for ENS.
The reason behind this unique spike in ENS domains is attributed to The Merge. It is the transition of Ethereum from proof-of-work to a proof-of-stake system. This change is going to reduce the energy consumption by 99.5%.
July also noted around 378,000 new registrations of .eth domain names. This brings the tally of all registered .eth domain names to 1.8 million!
Although the .eth domain names are gaining substantial success, the news for the ENS tokens isn’t that encouraging. ENS air dropped tokens last year. Following this the ENS tokens witnessed a price surge, but after that the token is witnessing a free fall. One of the prominent reasons behind the fall is the prominence of large shareholders in the tokens. Large shareholders account for 86% in ENS while the same range around 10% in Bitcoin.
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