A Bitcoin-Related Domain Name Sold For 350,000 Yuan Within Seconds

Bitcoin and blockchain mania has reached a fever pitch recently around the world, a fact made further apparent by the recent surge in the price of weisite domain names related to cryptocurrency, especially to bitcoin.

eibtc.com, a domain name of only five letters, was sold out in a second for 350,000 yuan , or $ 55,210 on March 5, after it was listed for sale on a Chinese marketplace called wanmi.cc., according to a report of ifeng.

This domain name is consisted of tow parts : ei and btc, which is suitable to for a cryptocurrency trading website . “btc” represents bitcoin, while the meaning of “ei”is not clear. The anonymous buyer’s move triggers speculation among Chinese netizens: the domain name is used to create a website or to make a large profit off the resale?

Besides, a number of blockchain-related domain names, favored by crypto enthusiasts and  blockchain startups, have been traded in absurdly high prices in China since the beginning of the year.

According to our previous report, a Taiwan-based company spent 2.1 million yuan to get the domain name of xmt.com which is used for setting up a global cryptocurrency exchange on January 11. Two weeks later, Binance, a well-known digital assets trading platform, bought “cryptoworld.com” for 1.25 million yuan from Mike Mann.  A famous Chinese domain investor, named Dai Yue even invest millions of yuan in buying blockchain related domain names.

In addition to popular bitcoin and blockchain domain names, another 3 letter domain xzb.com sold for 305,000 yuan on wanmi.cc. yesterday because “xzb” is the Chinese Pinyin acronym for “ Xing Zheng Ba ( Administration Department)”, “Xia Zai Ba ( webside to download software) ”, “ Xing Zuo Ba( horoscope website)”,etc. And the 2 letter domain ng.com.cn also sold for 46,000 yuan on the same day.

It seems that a valuable domain name must be connected with hot topics or have a special meaning.

 

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