Analysing ENS registration behavior since the Airdrop announcement

Future projections using the past & trends!

Taking the above 2 visualizations into account, we can draw the following conclusions:

• Since the airdrop announcement/the actual airdrop, new / first time users have clearly outpaced those making multiple registrations and already having previous domains.

• The difference in the growth is also HUGE.

Some conclusions that we can draw from the above 2 visualizations:

• Registration has been 'UP ONLY'.
• There is a vast difference in new wallet/user registrations compared to those making multiple registrations from the same wallet

Some observable Trends

• The new user growth seems to always outpace multiple domain user growths.
• This trend doesn't seem to be impacted by severe/adverse market conditions either!
• Take March 2020, Aug/Sept 2020, and of course bloody May 2021. The new registration growth always seems to maintain a >70% majority.

Multiple Registrations and the domain speculation/reselling market

• There is a limited set of market participants that are interested in hoarding multiple domains with the hopes/expectations of eventually reselling the domain to the highest bidder.

• Similar behavior is present in Legacy Web domains, entities/firms that exist simply to squat/flip domain registrations.

• Such participants are widely outnumbered by the genuine users/entities.

• A dashboard that gives a slight hint into domains in-demand by the speculators. LINK

Final Thoughts

• New User registrations should always remain UP ONLY especially against multiple registrations.
• So many users to onboard! And this is an ever-increasing set of the population.
• Not only ETH/ENS, various other chains adopting a similar domain name approach!
• All of this is of course dependant on the wider market sentiment/risks and acceptance of public blockchains and the technology that enables such products!