The rally in registrations may have contributed to a surge in the price of the $ENS token, based on data present on CoinMarketCap.
The price of $ENS hit a 3-month high on May 3, 2022 when it stood at $26.5, the tip of a surge that began on April 27, 2022 when the token price was $17.14
Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like john.eth into the machine-readable alphanumeric codes you know from wallets like Metamask.
The goal of Ethereum Name Service is to make the Ethereum-based web easier to access and comprehend for humans – similar to how the Internet’s Domain Name Service (DNS) makes the internet more accessible.
Like DNS, ENS also uses a system of dot-separated hierarchical names called domains with domain owners fully controlling their sub-domains.