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Ethereum gathers steam for Merge, ENS domains rise and stakers patiently wait
- Dan Ashmore
- 2022-12-07
- 3317
- Technology
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Summary:As we get closer and closer to one of the biggest events in the brief history of cryptocurrency – the Ethereum Merge – there are a number of metrics w
As we are getting closer to one of the biggest things in the history of digital currency - Ethereum merger - there are many indicators indicating that the whole room activity has accelerated.
Ethereum name service
The first is Ethereum Name Service (ENS), which completed the third largest revenue in August. The service generated $4.3 million in revenue, and 34000 accounts were registered for the first time.
Statistics of ENS in August 2022
– 301K A new one eth applied for registration (2.17 million names in total) – $4.7 million of agreement income (all belong to @ ENS_DAO) – 2744 eth income (the third highest month) – 340K new eth account, at least one ENS name (5.4 million names in total) – more than 99% of OpenSea domain vol pic.twitter.com/utU8i4cBMT
-Ens.eth (@ ensdomains) September 1, 2022
This name is a good feature of Ethereum. Can provide a A simple name at the end of eth, such as harrypotter, rather than providing a long Ethereum detailed address for others. For example, eth. This name can be combined with a person's wallet, which means that only this name is needed when payment is specified. Simple visualization.
The promotion of this name shows that everyone is laying the foundation for the "merger" scheduled to be launched on September 15.
Project investment 13 million ETH
The ETH limit locked in the pledge contract has reached 13 million ETH at this stage, accounting for about 11% of the supply. At the current market price of 1635 dollars, it means that Ethereum is positioned in the pledge contract with more than 21 billion dollars.
It should be noted here that merging is not easy to allow obtaining this ETH. I used to wonder whether the influx of ETH into the sales market after the merger would cause economic downward pressure on prices - after all, as shown in the figure above, most Ethereum has been determined for a very long time.
However, the investor will not be able to revoke his ETH until another update is implemented, which is not planned for the next six months or one year. With the merger taking effect, this will weaken the anxiety about the level of supply/requirements. There are also some substitutes for pledge in the nature of circulation, which means that so far the liquidity has not subsided.
macro
Therefore, we are close to the dividing point all the time, just two weeks after I wrote this article. The core of the problem is still that it is a matter of "buying rumors and selling news reports", or Ethereum will learn from it.
My current idea is very simple - I think that in terms of price behavior in the short term, the macroeconomic climate is crucial at this stage, and inflation is changing from quantitative to qualitative. The radical Federal Reserve meeting and the busy international climate still lead the all-round development of the market.
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