ENS address ‘abc.eth’ was traded at 90 ETH. It marks the second-highest transaction bid in ENS history.
Last week was a wild ride for Ethereum with the launch of the BAYC Otherside land sale. According to the analysis of IntoTheBlock, the gas fee of ETH surged surpassing last month’s fee. The week also witnessed an all-time high $ETH burn which if considered annually shows an 18% supply reduction. Along with these numbers, the income of Ethereum miners also rose to an all-time high in a single day to 95,182 ETH.
The #BAYC Otherside land sale led to more fees being processed by Ethereum in three hours than in the previous two weeks The amount of $ETH burnt reached an all-time high, which if annualized would be equivalent to an 18% supply reduction pic.twitter.com/R8nyMqHvBW — Lucas Outumuro (@LucasOutumuro) May 2, 2022
Another incident followed this series when on May 3, the domain “abc.eth” was traded for 90 ETH or approximately $255,000, according to the data provided by NFTGo. There was a rapid rise in the buying spree of the Ethereum Name services last week and this trade, marked the second-highest transaction in the history of ENS purchases.
According to NFTGo data, abc.eth was traded at a price of 90 ETH, or about $254,315.12, setting the second-highest transaction record in ENS history. https://t.co/hpLvbIVxhQ — Wu Blockchain (@WuBlockchain) May 3, 2022
ENS or Ethereum Name Service holds a lot of importance to its users as the project allows them to convert their addresses into apprehensive names. Novices can consider this as similar to regular domains that show us websites in place of IP addresses.
It is easy to figure out why a simple domain like ‘abc’ received such a high value. There is a possibility that a large company like Alphabet will purchase it following the footsteps of the big names like ‘apple.eth’ or ‘meta.eth.’
The explorer also has data of the domain ‘paradigm.eth’ that secured the highest bid and was valued at 420 ETH. Currently, the third place is secured by a domain named, ‘deepak.eth’ which is valued at 75 ETH. All this led to a 10% hike in the price of the ENS token yesterday and is currently trading at $21.27.