According to Odaily, the second quarter of 2024 saw a decline in the registration of ENS domains. After reaching a peak at the end of April, the monthly registration volume began to gradually decrease. Blockchain data reveals that the total number of .eth domains registered in June was 20,131, a 30% decrease compared to May's 28,949 registrations. This also represents a 58% drop from the peak registration volume of 47,704 in April.
In June, the primary ENS name registrations also hit a new low for the year. Over the course of 30 days, the number of registered primary ENS domains was 14,401, a month-on-month decrease of 39%. This is a 55% decrease compared to the 31,982 primary domains registered at the beginning of the year.
Despite the decline in registrations, the value of outstanding ENS derivative contracts climbed to a historic high of $153 million on July 1. However, this trend has been on a downward trajectory since then. As of the time of reporting, the value of outstanding ENS contracts stood at $80.12 million, a drastic 48% drop within a week.
