The past week has seen a major decline in the price and value of cryptocurrencies, with some of them shedding as much as 40% of their value within days.
This has caused a reaction from several quarters. Stakeholders, such as Ethereum founder Vitalik Buterin, believed that the crypto market may fall further. However, some share a different opinion.
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Chief Executive Officer of Unstoppable Domains Mathew Gould is one of those who think cryptocurrency interest is still on the rise despite the setback.
There is still a high level of interest in crypto
Gould also gave reasons why he believes there are still high levels of interest in cryptocurrencies. According to him, the volatility of crypto assets has “raised concerns among the blockchain community and investors in general.”
Data from TradingView showed that on Wednesday, Bitcoin plummeted to nearly $30,000, which is a dramatic fall, considering that it traded for about $60,000 earlier in May.
But Gould said the number of new domain name registrations on the Ethereum blockchain has grown by 25,000 in the past week on Unstoppable Domains.
Blockchain domains are registered at unprecedented levels
Gould added that the registrations of blockchain domain names are currently at unprecedented levels and there seems to be no sign of slowing down. This shows an increased interest in crypto despite the recent market shakeup.
The total blockchain registrations have now hit 817,000, according to Gould. He said the registration continued even as the crypto market is experiencing a market selloff. As a result, the current registration is now more than 500% YoY growth. He stated that looking at the spate of growth in blockchain domain registration, suggests that optimism for crypto is still very high.