4-digit ENS domains spike in demand this week and continue soaring

Ever since Ethereum Name Service, or ENS, launched 10,000 four-digit .eth domains ranging from 0000 to 9999, the collection of non-fungible tokens has caused a stir among investors, speculators and NFT enthusiasts alike. After the 10,000 ENS names sold out in one day, the number of people who registered for ENS names and bought these digit number names on secondary markets significantly affected the market’s trading volume.

According to a Dune Analytics dashboard for ENS, the increase in sales started on April 21 and the amount of eth. Since then, name registrations have increased from 2,721 to 21,188 on April 28. Over the past seven days, ENS domain trading volume on OpenSea increased 3,333% to 2,613 ETH, or $7.3 million, at the time of writing. The last 48 hours have seen the largest number of ENS NFT trades on the secondary market with the most expensive domain yet, “008.eth,” which sold for 20 ETH, or $56,125, on April 29.

Each ENS web name is an NFT that is minted and sold like any other non-fungible token. These decentralized domains ending in .eth can act as Ethereum wallet addresses, cryptographic hashes, and website URLs. As decentralized applications, wallets, exchanges, and marketplaces increasingly support NFT usernames, whether from ENS or competitors like Unstoppable Domains, Web3 users are embracing the value that can be tied to a digital identity.

Holders who have obtained ENS names from 0 to 9999 have formed an exclusive Discord channel called 10kClub. At the time of writing this report, nearly 4,000 ENS holders had joined this social club. The members even created a refrain that was continually posted throughout the Discord chat that read, “I I AM MY NUMBERS AND MY NUMBERS AM ME.” According to the 10kClub Twitter page, there is no roadmap.

Consequently, the app.ens.domains website crashed last week, leading users to a 404 error page because the website could not be found on the server. On April 29, the ENS team tweeted multiple times that they are working to resolve the issue.

Related: The Concept and Future of Decentralized Web3 Domain Names

Not only individuals, but also major brands and corporations have recently registered their names with the Ethereum Name Service, such as Puma and Budweiser.