Data shared from the Ethereum Name Service (ENS) official Twitter account shows that 378,000 new users started using the service in July. With this latest increase, the number of addresses created by users has exceeded 1.8 million.

It has been suggested that the Ethereum (ETH) update The Merge, which is expected to be carried out in September, is the most critical reason for this increase. The statement, which states that 48 thousand new Ethereum wallets have started to use the domain name service, signals that the increasing interest will continue.

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In the shared post, it was stated that the revenue from the number of domain names that reached the historical peak is around $ 8.8 million (approximately 5400 Ethereum). Khori Whittaker, a senior officer of ENS company, made the following statements in an interview with Decrypt:

   "There is a highly active and passionate ecosystem of ENS supporters and they continue to form subcommunities organically. They are raising community awareness of what is possible with ENS domains."

Another important factor, according to Whittaker, is the decrease in transaction fees on the Ethereum network and the fact that users can buy domain names at much cheaper prices, increasing demand. He also noted that the growing network is beginning to be adopted not only by English speaking communities but also by Spanish and Arabic speaking communities in particular.

ENS allows users to create unique and creative names instead of long wallet addresses, transfer money and use it as a long-term investment tool, as in the ".com" domain name. ENS, which has experienced an increase of close to 72% in the last 30-day period, is trading at $ 15.3 at the time of writing.

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The cryptocurrency, which is in an uptrend, seems to have received a good response from its current resistance while watching closely at the current resistance levels. In closings above $15.6, ENS is thought to aim higher. Ethereum Name Service, which is ranked as the 111th most valuable cryptocurrency by CoinMarketCap, is trading at 82% below its all-time high of $85.