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ENS craze continues! Multilingual digital domain name registration becomes popular, trading volume dominates OpenSea

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ENS craze continues! Multilingual digital domain name registration becomes popular, trading volume dominates OpenSea

In late April this year, the Ethereum Name Service (ENS) saw a surge in demand for three-digit and four-digit numeric domain names, leading to a significant increase in transaction fees on ENS and generating substantial trading volume in the secondary market. Recently, a similar situation has reemerged, but the focus has shifted to ENS numeric domain names in multiple languages.

ENS Once Again Captures Market Attention

In late April of this year, the domain name speculation frenzy was mainly sparked by the "10kClub" established by the early holder of the Bored Ape Yacht Club, 392.eth. According to its introduction, this club is a Web3 social club for ENS domain name holders of numbers 0-9999, with no roadmap, just the first ten thousand numeric domain names on the Ethereum blockchain.

Why were the prices of these numeric domain names driven up? NFT blue-chip holder become.eth | 751.eth also listed several possible reasons at the time:

  • There are only 100,000 four-digit ENS domain names.
  • ENS could become an email system with billions of users.
  • Four digits are short and sufficient.
  • Numbers usually carry significant meanings for everyone.
  • Verifiable scarcity and easily identifiable collectibles may also help address the lack of domain name liquidity.

At the time of reporting this event, the floor price for three-digit numeric domain names was around 4 ETH, while for four digits, it was above 0.3 ETH. Now, two months later, the floor price for three-digit numeric domain names has reached 30 ETH, and the increase for four digits is equally remarkable, demanding at least 2.1 ETH.

In addition, the domain name "000.ETH" was sold today for 300 ETH, approximately $320,000, making it the second highest-priced domain name ever sold in ETH terms, second only to "paradigm.eth" which sold for 420 ETH.

Multi-Language Numeric Domain Names

Seemingly inspired by the 10kClub, many similar social clubs have recently appeared on Twitter, with the difference being that the Arabic numerals have been replaced with the numeric forms of other languages, such as Chinese, Korean, Arabic, and more.

According to data from ENS.Vision, the top ten ENS domain name series by trading volume in the past 24 hours are all numeric domain names, with trading volumes all above 100 ETH.

This phenomenon has also allowed ENS to dominate the trading rankings on OpenSea, with a daily trading volume of nearly 3,000 ETH, far surpassing other projects.

Furthermore, according to data from Ultrasound.money, the ETH destroyed in the past day due to using ENS services reached a high of 183.5, second only to OpenSea.

Regarding this phenomenon, the 10kClub also expressed their delight, stating on Twitter:

"We are thrilled to see 10kclub inspiring action in registering numeric domain names in various languages. We love numbers, we love ENS. Most importantly, we love all of you."

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