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Decline in Registrations of Ethereum Domain Name Service ENS

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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…

Decline in Registrations of Ethereum Domain Name Service ENS

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 latest data from March 2 reveals that there has been a significant decline in the number of registrations of the Ethereum domain name service (ENS) in February. The report states that there were only 40,480 registrations, including 14,018 primary domain names, indicating a record low. Additionally, there was a decrease in the number of new address participants, for which only 19,653 were recorded in February, also a new low.

The data shows that the ENS has created a total of 2,790,254 domain names, out of which 490,388 are primary domain names. Additionally, there are 661,713 participating addresses, which means that these users are actively using the domain name service.

The decline in registrations and new participants is concerning for the ENS, as it suggests that users are losing interest in this particular service. However, this trend is not limited to the ENS alone but has also been observed in other Ethereum-related services. For instance, the number of daily active users of decentralized finance (DeFi) applications has been declining, according to a report by DappRadar.

One possible reason for the decline in the ENS registrations could be due to the rising fees on the Ethereum network. As the number of daily transactions on the network increases, so does the gas fee, which refers to the cost paid by users to process a transaction on the network. The higher gas fees make it more expensive for users to register their domain names, thus leading to a decline in registrations.

In conclusion, the report indicates that there has been a decline in the number of registrations of the Ethereum domain name service ENS in February, reaching a record low. Although the reasons behind this trend are not clear, rising gas fees on the Ethereum network could be a possible cause. This decline in popularity may dampen the enthusiasm of the ENS community and developers to create and adopt new solutions to enhance the service.

Title: Numbers of ENS Registrations and New Participants Hit Record Low

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