Ethereum Name Service (ENS) has already forged popularity throughout May with the best record for new registrations, account renewals, and profits.
ENS chief developer Nick Johnson this morning revealed that the fifth month of 2022 recorded the highest all -time record (ATH) for every aspect taken into account:
May is now an All Time High for every single ENS metric we track - registrations, renewals, revenue (ETH & USD) and income (ETH & USD).
And there's still a week of May left.
🤯 pic.twitter.com/u0tTcVPr3f
- nick.eth (@nicksdjohnson) May 22, 2022
ENS simply resembles the concept of a domain name where all user identities are tied to the registered name.
For example, if you want to give the XRP wallet address to your friend for a cryptocurrency transfer, it is only necessary for the registered ENS to be a combination of 12 letters and numbers.
You can read here: Get to know ENS and ENS 3 Figures Reach Over RM700 Thousand for more.
As of this writing, ENS dominated all metrics throughout May:
New registrations: 313,000 (+107.6%)
Account renewal: 13,600 (+103.8%)
Cumulative profit: 3,300 ETH ($ 8,300,000 // ~ RM36,370,000)
Johnson described this remarkable change as a signal of awareness and acceptance of Web 3.0 technology among crypto and blockchain users.
At the same time, this latest record happens to happen when gas prices are cheap.
At the time of writing, Ethereum saw the highest gas price worth 23 gwei (~ RM4.4) and the lowest just 16 gwei (~ RM3.16).
Even so, the surge in interest in the registration and renewal of ENS did not affect the price of its tokens.
Since November 2021, the price of ENS has not shown any drastic change except to continue to decline.
For example today a unit of ENS is trading at $ 12.88, up over 3% in 24 hours but has declined over 85% since ATH on November 11, 2021.
