“0.00eth” ENS domain name sold for 300 ETH on Sunday becomes the second-largest sale in the Ethereum blockchain resulting in a sudden surge of Ethereum Name Service registrations amidst the crypto winter and low Ethereum gas price.
The registrations on the ENS protocol increased to over 64,000.eth only on Sunday and Monday. According to Dune analysis, the biggest domain name holder, ensed.eth bought 2944 names, while 6912.eth has 924 names under their ownership.
The low gas prices on the Ethereum blockchain made it even better because people could buy domain names without having to pay high gas fees.
Ethereum Name Service is a domain name protocol that enables users to buy and own domain names on the Ethereum blockchain.
According to the data from DappRadar, ENS protocol rose on the top sales chart of NFT collection in the 7-day tracking week.
As Web3 increases in popularity, these domain names are most likely to profit the buyers in the future when they sell at a higher price in the secondary market.