BlockchainCrypto AdoptionCryptocurrencyDeFiEthereum (ETH)NewsOn-chain Data / Analysis

ENS Registered More Than 2.2 Million New Names In 2022

In its New Year announcement, the Ethereum Name Service (ENS) revealed that it had registered more than 2.2 million new names in 2022. This incredible growth is a testament to the utility of the Ethereum Name Service. 

The ENS has opened up the Ethereum network to a much wider audience by providing a secure and easy-to-use platform for registering domain names. The announced 2.2 million registration is the highest recorded by the network since it launched, contributing well over 80% of the total ENS domain created since the project’s inception in 2022.

This feat positions the platform at the top of the integrated blockchain naming standards market. According to the on-chain data from Dune Analytics, the fastest recorded registration was in September 2022, with more than 400,000 new users.

However, the number of registrations declined toward the end of the year, closing with 50,000 new users in December. According to the Dune Analytics Data, this result placed the total number of names registered at 2.8 million.

Although, the ENS platform reports that it has 2.76 million ENS registrations. It is also important to note that the 2.8 million names are from about 600,000 users of the ENS service, suggesting that having multiple names has become a standard in this sector.

📰 Also read:  Chris Larsen’s $10M Kamala Harris Donation Addressed by Ripple’s Garlinghouse

Factors Contributing To The Upsurge Of ENS Registrations

The growth in ENS registrations is due to the increasing demand for decentralized names and addresses. With the Ethereum blockchain becoming more popular, developers are looking for ways to make their apps easier to use and access. 

ENS provides users with an easy way to remember and identify blockchain addresses, making them more accessible and user-friendly. Moreover, the Coinbase ENS integration in late August is key to the rapid rise in the number of registrations recorded by the platform in September. 

This integration allows users to change their wallet username to an ENS subdomain of Coinbase ID. The ENS address, according to Coinbase, will be available to both regular and pro users, and users can send, receive, and trade coins using the address.

Furthermore, the increasing popularity of DeFi protocols has also driven demand for ENS registrations. DeFi projects need to register a domain name to make it easier for users to access their apps. 

📰 Also read:  Report: 'Bitcoin' Google Search Volume Declines, While 'Meme Coin' Increases

With more DeFi protocols coming to market, the demand for ENS names will continue to grow. As we move into 2023, there will be more ENS registrations as the platform promises more exciting features. 


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Howard Lutnick Backs Trump's Economic Policies as Boost for US Prosperity

Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content