ENS Collaborated with Coinbase aim to add human readable domains
Coinbase collaboration with ENS to let Ethereum wallet holders create NFT letters.
With this collaboration to add human readable cb.id domains through this collaboration anyone with an Ethereum wallet would be able to generate an NFT consisting of a string of letters that could replace the alphanumeric blockchain address.
With this collaboration, ENS and Coinbase could revive some of the declining interest in the ENS domain network.
The monthly decline in the number of new addresses added to the network is indicative of waning interest in ENS, monthly new addresses to the ENS network had decreased from 22,914 to 12,000. according to Dunn Analytics
Furthermore, new customers stopped using ENS domains established users also ceased utilizing the domain service as frequently as before. the fact that fewer domains have been renewed in recent days demonstrates this.
ENS registered more names than its competitor's unstoppable domains this may be because ENS has more advanced features and functionalities than its competitors.
According to Santiment data, The ENS token was gaining increasing popularity this was indicated by the rising amount of ENS tokens in recent months, the ENS tokens amount is increased from 10 million to 48.67 million.
At the time its speed also increased suggesting that ENS was transferred more frequently.
The network expansion stalled this demonstrated that fresh addresses were losing interest in the cryptocurrency over time of publications ENS cost $13.70 it had risen by 5.1% in the previous 24 hours.