@NathanHeadPhoto Amazon.eth Tweeted that the Ethereum Name Services (ENS) domain name received an anonymous bid of 1,000,000 USDC. This is equivalent to 637 ETH at the current price.
amazon.eth has a $ 1 million bid pic.twitter.com/PKrhWtnsl8
— 🏝 nathanhead.eth 🏝 (@NathanHeadPhoto) July 18, 2022
according to High seas, The domain name was purchased in October 2019 for 100 ETH. After several transfers, user “4761BF” purchased a domain name at 33 ETH on February 7th.
If the bid is accepted, 4761BF will leave with an incredible 1,930% profit from an ETH perspective.
What is Ethereum Name Service (ENS)?
The Ethereum Foundation Ethereum name service At (ENS) 2017.. A year later, it became an independent organization managed by TrueNames LTD, a Singapore-based non-profit company.
This service allows users to convert alphanumerical wallet addresses into a human-readable format. This then links human-readable names to blockchain and non-blockchain resources such as Ethereum addresses, IPFS hashes, and website URLs.
ENS allows you to store multiple addresses and allow owners to receive different cryptocurrency tokens and NFTs. That’s why this service is marketed as a way to gain a censorship-resistant, fully decentralized Web3 presence.
“No more sandboxed usernames. Own your username, store your avatars and other profile data, and use it throughout your service.”
Anonymous bidders bid for amazon.eth, but speculation is widespread that Internet retailers are behind the offer, especially given the size of the bid.
Further speculation is focused on bidding at USDC. In general, ENS domains are traded on Ethereum, suggesting that bidders may dislike volatility and prefer to hold / buy stablecoin.
Prices for ENS domains can vary significantly
Some say that the .eth domain name is inherited from Bored Apes as the latest cipher. Status symbol Turn at. However, unlike Bored Apes, .eth domain names are reasonably priced.
According to the website nft-stats.comThe ENS domain name has no minimum price for the last 7 days and the average selling price was a reasonable $ 405.
Nevertheless, the price of the more desirable name will rise significantly. The second most expensive ENS sale 000.ethSold for 300 ETH, or $ 320,000, on July 3rd.
The most expensive is paradigm.eth, which was sold for 420 ETH in October 2009. As this period approached the peak of the market, Ethereum was priced at about $ 35,000 at the time, with sales of $ 1.5 million.
If the bid for amazon.eth is accepted, paradigm.eth will be used to make it the most expensive ENS name in Eth terms.
