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ENS Sets Record for Lowest Monthly Registration of Domain Names and Address Participants

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On March 2, according to data from Dune Analytics, the number of registrations of the Ethereum domain name service ENS in February was 40480 (including 14018 p…

ENS Sets Record for Lowest Monthly Registration of Domain Names and Address Participants

On March 2, according to data from Dune Analytics, the number of registrations of the Ethereum domain name service ENS in February was 40480 (including 14018 primary domain names), setting the record of the lowest number of registrations in a single month so far; The number of new address participants in February was 19653, which also reached the lowest monthly record. Up to now, ENS has created a total of 2790254 domain names (490388 primary domain names) and 661713 participating addresses.

In February, the registration volume of Ethereum domain name service ENS hit the lowest monthly record so far

Interpretation of the news:


The recent data from Dune Analytics has revealed that Ethereum’s domain name service (ENS) had the lowest number of registrations in a single month in February, with a total of 40,480 (including 14,018 primary domain names). This record-breaking low of domain name registration was an unexpected turn for ENS, which has seen an increase in users over the last few months. The data also showed a decrease in new address participants, with only 19,653 new users in February.

ENS is a decentralized service that enables users to assign human-readable addresses to their cryptocurrency wallets. ENS has been an attractive choice for Ethereum users because of its ease of use, enhanced security, and added value to the decentralized ecosystem. The decrease in user registrations might be due to the growing competition from other service providers who are offering similar services, or the overall decrease in Ethereum users.

Despite this decline, ENS has created more than 2.7 million domain names, with 490,388 primary domain names. Additionally, ENS has recorded 661,713 participating addresses. These numbers suggest that ENS is still a valuable service provider for Ethereum users. However, to maintain its position in the market, ENS must continue to improve its service and adapt to user demands.

The decline in ENS registration could have implications for the entire Ethereum network. The lower number of registrations of domain names and address participants implies a decrease in user adoption and reveals that there are fewer users actively utilizing the Ethereum network. The Ethereum community could face a dilemma if the trend continues, as the decline in usage could affect the overall value and liquidity of the Ethereum cryptocurrency.

In conclusion, the recent data from Dune Analytics regarding the lowest number of registrations of domain names and address participants on ENS in February requires further analysis to better understand the underlying factors that led to this downturn. ENS is still an integral part of the Ethereum ecosystem, but it must continue to evolve and improve to maintain its relevance as the industry grows and competition increases.

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