Ethereum domain names top Bored Apes on OpenSea’s

Ethereum Domain name

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Categories: Cryptocurrency

Ethereum domainnames top Bored Apes on OpenSea’s

EthereumName Service(ENS) domain names have surpassed Bored Ape Yacht Club (BAYC) as the mosttraded asset on nonfungible token (NFT) Marketplace OpenSea’s iswell ahead of Ethereum merge – over the past seven days.According to data from OpenSea, the weekly volume of EthereumDomain NFT took in 2,249 Ether (ETH) at the time of writing,outperforming RTFKT Clone X at 1,992 ETH and Board app Yacht Club at 1,777 ETH.

ENS Domainsis a distributed, open and expandable naming system on the Ethereum blockchainthat allows users to convert a long string of keys to a crypto address, such as"vitalik.eth", into a single ENS domain. Thissimplifies the complexity of copying and pasting a long wallet address to sendand receive crypto, as users only need to share their domain name like anyother normal address.

Thesedomain names can be bought, sold and traded between users in the formof NFTs. The recent spike in ENS trading volume has seen theaverage price of ENS items rise 167% to 0.3895 ETH, or $641 at the time ofwriting, while the daily volume has increased from 120.7 ETH to1044.6 ETH.

According toOpenSea, some of the most expensive ENS domain names are 000.eth,which was bought for 300 ETH and is available for sale for 5,000 ETH along withopensea eth, crypto.eth, google.eth and nike.eth.

The strongstart in September follows an impressive ENS sales month in August, which sawmore than 300,000 new “eth” registrations and monthly revenue of2,744 ETH, the third-highest month since ENS was founded in 2018.The spike inENS domain name demand comes a little over a week before the scheduled date ofthe Ethereum Merge, which is scheduled for around Sept. 15. The poll found that49.8% of the 91,130 voters went with “Under $100,” while 18.9% ofvoters thought “$10,000 or more” could be considered a fairprice.

OpenSea, an Ethereum application that allows users to create and trade digital assets, has surpassed the Bored Ape Yacht Club (BAYC) as the most traded asset on its platform. Ethereum Name Service(ENS) domain names have become the most popular non-fungible token (NFT) in terms of transactions.

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