Trading activity for high value .eth domain names has gone from hundreds a day to fewer than ten.
Later this morning, I’ll publish this week’s Domain Name Wire Podcast with a discussion about blockchain-based domain names.
Before that, let’s check in with the market for .eth domains, which are part of Ethereum Name Service.
In early May, I wrote about how short numeric .eth domains were selling for big bucks. Four digit .eth domains were selling for $6,000-$7,000 and three digit domains were selling for $50,000 or more.
People weren’t suddenly using .eth domains in droves. Instead, they were piling into the market with the hopes of making a quick return. That opportunity appears to have been fleeting.
Prices crashed days later. The market for high dollar .eth domains fell further as the month progressed to only a trickle a day.
The market was so hot for a while that Leanne McMahon, creator of domain data site Crunch.id, was doing daily updates of .eth sales. She reported on hundreds of .eth sales of $1,000 or more per day. Now there are fewer than 10 per day, so she put her daily roundup on pause.
Trading on OpenSea has fallen from thousands of domains a day to about 150-200 per day.
We talk about the .eth runup on the podcast today, so stay tuned.
well i just sold one today for 3x in 21 days, so not a complete fail.
Beware of .eth says
Pump and dump.Even a well known heavyweight broker was bragging about this and trying to make investors invest their money, Sorry this is not .Com but .eth .
There is no FOMO on .eth. Shane made money on his buy doesn’t mean others will .Shane is smart and he knows when to cash out after a hype .Most won’t tell you as they lose money.
Investors beware .
And then there is this $35,000 purchase of dotswoosh.eth by Nike last week. https://youtu.be/3eXHlPAWWxI
I count 26 sales over $1,000 in the last 24 hours. But charts show sale volume and floor price significantly down. https://opensea.io/collection/ens/activity
thats matches the volume ive been seeing, i guess if you pick which part of the game you are seeing you can draw different conclusions..nice comment.
bubble gonna burst haha