yoga.eth
@yoga.eth
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During the 2021 bull run, and the boom of ENS domain prices in 2022, many blamed "domain squatters", for raising prices unreasonably. "They register domains they don't need", they said.
I always supported that domain traders are good for the ecosystem. They took a risk, when almost no one else believed in ENS (or even knew about it). Yes, *you* think everyone is interested in .eth names, but the reality is only a few thousand people in the world do.
Two years later:
- .eth domain prices are down more than 90%
- hundreds of domains expire every day, and no one renews them.
- yet, some users are still bullish and keep renewing thousands of domains
Domain traders took (and keep taking) the risk of investing in an asset that did not have sufficient demand yet, and so far most of them are deep in the red.
But they had a positive contribution to the ecosystem: The ENS DAO holds $130M in it's reserves, it wouldn't if it wasn't for them. 2 replies
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