Demand for Ethereum domain names is increasing

ETH Addresses and Bright Spots of a Gold Bored Monkey in a Tough NFT Stretch

The demand for .eth addresses shows no signs of slowing down.

On August 16, the Ethereum Name Service (ENS) passed the milestone of 2 million registered domains as the blockchain-based protocol recorded 378,804 purchases in July.

The craze started in May with the 10K Club, made up of four-digit names ranging from 0000.eth to 9999.eth. Collectors have since moved on to other combinations of letters and numbers, including non-English characters. Male and female first names are fashionable according to SET.Vision.

In the latest twist, crypto exchanges KuCoin and MEXC split baskets of ENS domains. KuCoin issued 1M HIENS4 tokens for each 4-digit name, which increased by 97% in the last 24 hours.

Gold Ape sells for 777 ETH

The Bored Ape Yacht Club (BAYC) topped the OpenSea charts with 3,686 ETH ($6.7 million) in trading volume last week. BAYC #5383 changed hands for 777 ETH ($1.5M) on August 17.

The popular NFT collection also has famous reaching 1 million Twitter followers on August 17.

Sudoswap Season

NFT traders seem to like sudoAMM, a Uniswap-style automated market maker for NFTs. Users can instantly buy and sell NFTs with no creator fees and provide liquidity to earn fees.

Sudoswap users dwindled after a surge. Source: Dune analysis

The volume was fueled by a series of meme-themed collections led by Sudo Inu.

Market state

Sales volumes rose 11.6% to $201 million in the week ending August 15 for a second weekly increase. The number of transactions also climbed 5.5% to 464K.

The market continues to show signs of unease as trading volume on OpenSea hit a 13-month low on August 16.

Floor prices

Most of the major collections have seen their price floors drop this week as traders appear to be piling up ETH ahead of the merger.

  • Bored Ape Yacht Club – Down 11% this week to 69.69 ETH
  • CryptoPunks – Down 9.7% to 67.5 ETH
  • Other Acts – 15% drop to 1.6 ETH
  • Moonbirds – Down 14% to 12 ETH
  • Doodles – 18% drop to 7 ETH
  • Clone X – Down 14% to 6.7 ETH
  • Plump Penguins – Up 3.7% to 2.78 ETH