ENS Domains are the Next Wave of NFTs

Ethereum Name Service (ENS) is reportedly leading the NFT market in total volume traded during the past week with $9.38M, up a significant 192.07%. Accumulated across 20.49K aggregate sales, up around 48%. On September 8, 2022, the trading volume of ENS domains surpassed $2.6M, making it the highest trading volume in the last 30 days, and notably became the top of the NFT market trading volume. Over 8.93K unique owners have reportedly acquired an ENS name, a trend which has become increasingly popular thanks to leading crypto and NFT influencers adding their ENS (.eth) names via social media apps like Twitter. Notably, the price of the ENS Index token, ENSDOMAIN, which was introduced by MEXC, surged by over 300% with the rise in popularity of ENS Domains. MEXC splits 4-digit ENS Domain NFTs (or non-fungible tokens) into 26,000,000 ENSDOMAIN index tokens (1,000,000 ENSDOMAIN for each NFT). The ENSDOMAIN index offers clients the option to trade unique, blue-chip NFTs at an affordable cost. If a trader owns a considerably large percentage of the index, then they are able to exchange their index holdings for any one of the 26 ENS Domains NFTs. MEXC will reportedly expand the collection based on market demand, and MEXC’s total position will not surpass 10%. MEXC is notably the first CEX that introduced NFT Index Token, which is being backed by blue-chip NFTs bought by MEXC. NFT will be “off-chain fragmented” in order to boost liqui...