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ENS, the governance token of Ethereum Name Service, hit a market capitalization of $1.15b earlier this week, which is equal to about 10% of the value of GoDaddy, the 24-year-old internet domain registrar and web hosting company. Like GoDaddy, Ethereum Name Service makes money when people register and renew domain names. Unlike GoDaddy, the Web3-native project is itself a naming protocol.
Starting in June, monthly name registration spiked, with Ethereum Name Service logging 20,000 registrations per month since then, according to a Dune Analytics dashboard by Makoto Inoue, a developer who works for the project.
https://thedefiant.io/ens-airdrop-ethereum-governance-token/
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