ENS bullrun 🐂

Driven by the popularity of 10kclub, April was a huge month for ENS by every significant metric. Yesterday, the one-millionth ENS name was registered by winnersclub.eth

Here are five key insights into the ENS bullrun 👇

𝗣𝗿𝗶𝗺𝗲𝗿: You can send crypto and NFTs to someone's wallet using their ENS name instead of entering a long Ethereum address. You can also use ENS names to point to decentralized websites and store profile info. All .eth names on ENS, such as niftytable.eth, are ERC721 NFTs.

1/ In April, 2492 ETH ($7.3M) was spent registering ENS names. 169 ETH ($510k) was spent renewing them.

Credit: @makoto_inoue (Maestro of Metadata🪄)

2/ That's 2660 ETH ($7.8M) in revenue for the ENS DAO. The DAO token currently has 57.5k token holders and a $1B fully diluted market cap.

3/ Monthly secondary market trading volume of ENS names (OpenSea + Looksrare) hit a new all-time high of $16M in April.

Halfway in, May volume has already eclipsed that with $55M of trades and is set to bring a new all-time high.

4/ 41% of the ENS names sold on secondary markets in April were 4 digit numbers. 2% were 3 digit numbers.

5/ There are 406k unique addresses that currently have an ENS name registered.

This excludes expired names that are still in their 90 day grace period and therefore still have the chance to be renewed.

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