Lead developer at ENS Nick Johnson said that the latest all-time highs in revenue for the company from renewals and registrations for .eth domains show that interest has reached “critical mass.”
that ends with .eth and can act as an address, a cryptographic hash, or a website URL.
The data shared by Johnson shows that there have been 304,968 new registrations, 13,260 renewals, and 3,165.85 ETH in revenue so far in May. All of these metrics leave previous highs in the dust. Johnson also said that ”low gas fees definitely have an impact” on the higher onboarding and renewal rates. To send a fast transaction on Ethereum costs about 22 GWEI as of the time of writing, worth about $0.92to gasprice.io. In periods of high volume, gas fees can be higher than $50, which may act as a deterrent to using the network unless in emergencies.
“You can register a 5+ character ENS name for a year for $5 - high gas fees can make the cost several times that, so gas prices have a big impact on the affordability of ENS names.”when social clubs such as the 10k Club within ENS gained tremendous attention. The 10k Club was formed by owners of ENS domains numbered between 0-9999. Both new registrations and renewals have nearly doubled since then.
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