The cryptocurrency market is something that has increased exponentially in value over the course of the past several years, but specifically in the past year. If you look at the internet domain market, you can see that the domain name, ethereum.com is going for a surprising price. The website is currently listed on the Uniregistry Market for around $10 million.
Back about a month ago, the domain name eth.com went for around $2 million, one of the highest cryptocurrency related domain name sales to date, if not the highest. Several sites that reference the currency could have had the domain name for around $10 a few years ago, but given the current state of the currency, it is incredibly inflated.
Ron Jackson, editor and publisher of Domain Name Journal was recently quoted stating that “The unfettered euphoria I see around bitcoin/cryptocurrency/blockchain reminds me a lot of the atmosphere I saw in the period preceding the dotcom bust around 2001. However, dotcoms came back and had bigger years than ever in the mid 2000s, so even a bursting bubble isn’t necessary final death knell for a given asset.”
A popular domain investor named Niko Younts has stated that he has the largest crypto-related domain portfolio to date. The portfolio reportedly holds around 1,200 different named including bitcoinnetwork.com. These names will only be valuable as long as cryptocurrency stays relevant.
As soon as it goes out of mind, the value of these domain names or any domain name that is associated with it, will slowly drop down. This market is something that is increasing in value in the same way that the cryptocurrency market is increasing. Hopefully it is here to stay, and not just a fad.