According to Ethereum Name Service, a decentralized domain name protocol based on the Ethereum network, the company saw record domain registrations last year after some traders started to consider the domains as actual investments.
The service offers users an easily readable name such as “abc.eth” instead of a complex, long-form alphanumeric address for their crypto wallets. This is pretty much the same as domain names replace complex ip addresses with readable names.
According to Dune Analytics, more than 630,000 unique wallets created 2.82 million domain names.
Regarding months, September was the month with more registrations, 430,000 unique domains in particlar, while December recorded the lowest with just 52,000 domains.