Cryptocurrency

Ethereum Name Service saw 2.2M ENS names registered in 2022

Hull Invest

Ethereum Name Service (ENS), a decentralized domain name service based on the Ethereum blockchain, has announced over 2.2 million new registrations in 2022.

The service celebrated its most successful year to date as it has become the most widely integrated blockchain naming standard on the market.

The 2.2 million new ENS names registered in 2022 also account for about 80% of all domains ever created. According to data from Dune Analytics, the fastest registration rate was recorded in September 2022, with over 400,000 new names registered. As the year began, the pace of registrations slowed, ending December with only about 50,000 new registrations.

ens registration
Chart showing monthly registrations for ENS names in 2022 (source: twitter)

This brings the total number of ENS names created to date to 2.8 million, according to Dune Analytics.data from the platform itself This number is about 2.76 million.

2.8 million names belong to approximately 600,000 unique participants in the ENS Naming Service, indicating that having multiple names has become the norm in the community.

The fast registration rate recorded in September could be a result of Coinbase’s ENS integration. The exchange allowed the user to change her wallet username to her ENS subdomain of her Coinbase ID in late August. Coinbase says ENS addresses can be used to send, receive and trade coins and are available to both general and professional users.

At that time, the platform’s native token ENS also hit an all-time high of $20.05. The token has dropped significantly from his September peak, bottomed out during the FTX collapse and is currently consolidating at around $11.10.

Graph showing ENS prices from July 2022 to December 2022 (Source: CryptoSlate)

Almost a year ago, ENS announced that it was working on adopting Ethereum Layer-2 support. At the end of January 2022, the service will have the first version of off-chain resolution implemented, ready for testing by developers. It is not yet known when Layer 2 support will begin, but the implementation could lead to a new wave of ENS name registrations.

Posted In: Ethereum, Uncategorized

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