Ethereum (ETH) based altcoin Ethereum Name Service (ENS)Defying the declines in the crypto markets, it has made a massive rally in just the last seven days.
Ethereum Name ServiceDesigned as the management token of , ENS rally explosively 86% in just one week. The price rallied from a seven-day low of $14.24 to as high as $26.50.
As we refer to as Koinfinans.com, Ethereum Name Service is a service that allows users to create customized Ethereum addresses and Web 3.0 domains in the form of non-changeable tokens (NFTs) that can be traded on the secondary market. It also enables crypto traders to simplify wallet addresses from long strings of numbers and letters to easy-to-remember names.
Details on the project’s website are as follows:
“Ethereum Name Service (ENS) is a distributed, open and extensible naming service/system based on the Ethereum blockchain. ENS’s job is to map human-readable names such as ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.”
When Was the Ethereum Name Service (ENS) Established?
Ethereum Name Service is a project created on April 4, 2016 by engineer Nick Johnson, who worked as a developer at the Ethereum Foundation. The project was released on May 4, 2017, after receiving the approval of all developers. The project is currently run by True Names LTD and is non-profit.
How to Buy ENS Token? ENS Token Mining
ENS is not a mined token. ENS hit its highest level on November 11, 2021, with a valuation of $85.69. The total supply of the token is 100,000,000 ENS.
ENS TokenYou can get it from leading exchanges such as Binance, Coinbase, Gate.io, KuCoin, Huobi, FTX, ByBit, Kraken.
Leading NFT marketplace OpenSea reported that ENS sales have increased by a whopping 5,341.61% over the past seven days; This is a big proof that investors are racing to buy ETH domains that have the potential to get higher offers in the future.
ENS also noted that interest in .eth registrations has skyrocketed over the past month, driving new registrations, fees, and protocol revenues.
“April 2022 ENS statistics:
– 163,000 new .eth records (~990,000 total names)
– 2,660 ETH in fees (from the previous best month 21 November to 900 ETH)
– ~$7.8 million in protocol revenue (all going to DAO)
– 38,000 new ETH accounts with at least 1 ENS name (387,000 total).”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.