Ethereum Name Service (ENS), a distributed domain name service based on the Ethereum blockchain, announced that it registered more than 2.2 million new registrations in 2022.
The service celebrated its most successful year yet as it became the most integrated blockchain naming standard on the market.
The 2.2 million new ENS names registered in 2022 also represent around 80% of all domains ever created. Data from Dune Analytics showed the fastest registration rate was recorded in September 2022, with more than 400,000 new names registered. As the year drew to a close, the pace of registration slowed, and December closed with only around 50,000 new names added.
This brings the total number of ENS names created so far to 2.8 million according to Dune Analytics. platform data itself puts this number at around 2.76 million.
The 2.8 million names belong to around 600,000 unique participants in the ENS name service, demonstrating that having multiple names has become a standard in the community.
The rapid registration rate recorded in September could have been the result of Coinbase’s ENS integration. The exchange allowed users to switch their wallet usernames to a Coinbase ID ENS subdomain at the end of August. Coinbase said that the ENS address can be used to send, receive and exchange coins and that it will be available to both regular and professional users.
At that time, the platform’s native token, ENS, also reached its all-time high of $20.05. The token has fallen significantly from its September peak, bottoming out during the FTX crash, and has now consolidated at around $11.10.
Chart showing ENS price from July 2022 to December 2022 (Source: CryptoSlate)
Almost a year ago, ENS announced that it was working to adopt Ethereum Layer-2 support. By the end of January 2022, the service had the first version of its off-chain resolver deployed and ready for developer testing. While it is not yet clear when Layer-2 support will be released, the implementation could result in a new wave of name registrations for ENS.
