4-Digit ENS Domains Continue Soaring
The Ethereum Name Service, or ENS, has recently sparked interest among non-fungible token (NFT) investors, speculators, and enthusiasts with .eth domains ranging from 0000 to 9999.
Despite the fact that three- and four-digit names have been existing for a long time, the number of people registering for ENS domains and purchasing these digit number names on secondary markets has had a substantial impact on the market's trading volume in the last week.
The surge in sales began on April 21, according to a Dune Analytics dashboard for ENS, and the number of .eth name registrations had surged from 2,721 to 21,188 by Thursday. The trade volume of ENS domains on OpenSea increased by 3,333 percent in the last seven days, to 2,613 Ether (ETH), or $7.3 million at the time of writing.
The greatest ENS NFT transactions have occurred in the recent 48 hours, with the most expensive domain to date, "555.eth," sold for 55.5 ETH, or $156,821.91, on Thursday.
Each ENS web address is a non-fungible token (NFT) that may be minted and traded just like any other non-fungible token. Ethereum wallet addresses, cryptographic hashes, and website URLs can all be used with these decentralized domains that finish in .eth.
Web3 users are embracing the value that may be connected to a digital identity because decentralized applications (DApps), wallets, exchanges, and marketplaces are increasingly supporting NFT usernames, whether from ENS or competitors like Unstoppable Domains.
As a result, the app.ens.domains website has been crashing and redirecting users to a 404 error page because the website could not be found on the server this week. The ENS team tweeted many times on Thursday that they are working to resolve the problem.