A Look at ENS Domains Growth

A Look at ENS Domains Growth

This graph shows the evolution of daily ENS sales on OpenSea since NFTs became mainstream. We can see 2 huge spikes — one from just before the NFT bear started, and one taking place right now, in the middle of the bear.

But the spikes are so tall that looking at this graph one could think ENS is just a 2-trick pony, with 2 irrational mania moments in a sea of flat sales. But the truth is exactly the…

…the opposite. And that can be seen by using a logarithmic scale. On the normal scale, the 2 spikes were hiding one of the most solid, steady, and bear-uninterrupted growths of all NFT land. But the log scale perfectly reveals this steady growth: 3/6

Logarithmic graphs may be unfamiliar to some By color-coding they become easier to grasp:
:red_circle: period: ens domains sales were in 0-10 daily range
:purple_circle: period: they were in 10-100 range
:green_circle: period (now): they are in 100-1000 daily and trying to break into 1k-10k 4/6

So even if current spike calms down, and ENS retraces back to the 100-1000 range, its trend is unparalleled in NFTs

ENS domains have not only grown together with the overall NFT market since 2021, but also continue to grow now after that market entered the bear.

In times of crisis, investors adopt a well-known behavior called ‘flight to quality’ But why ENS domains provide unmatched quality & safety in NFT land will be for another thread.

By Matt Garcia

I think it’s a great sign that ENS is one of the very few areas in blockchain that is booming in the bear market. ENS are the only NFTs with true utility.

It seems like the growth will continue unabated in the bear market. There is enough momentum, awareness, and innovation for this to happen.