ENS is about to hit a new all-time high!
Do you know why?
You'll thank me after reading this!
Ethereum Name Service (ENS) has surged 30% in the past 24 hours, reaching its highest price since January 2022.
ENS is currently trading at $32.61, still up 27.7% in the past 24 hours. The project has a circulating supply of 31.6 million ENS and its market capitalization has exceeded $1 billion. At the same time, its daily trading volume has increased by 64% and is currently hovering at $264 million. ENS has surged more than 250% in a year;
ENS is a decentralized naming system on the Ethereum blockchain that allows users to take a human-readable name (such as "jenny.eth") and link it to various identifiers, including addresses, content hashes, and metadata. Unlike the traditional Domain Name System (DNS), ENS domains are managed by smart contracts and decentralized autonomous organizations (DAOs) to ensure that there is no central control. Ethereum Name Service is compatible with multiple blockchains, including popular ones such as Optimism, Solana, Arbitrum, and Base.
The latest rally in ENS comes as investors await the upcoming ENSv2 upgrade, which is designed to improve scalability, affordability, and flexibility. According to the updated roadmap, developers are currently focusing on upgrading name resolution and managing reserve resolution. Developers have not yet specified a specific time for the V2 upgrade, but the roadmap shows that it may take several months to complete.
In addition, the price of Ethereum Name Service surged on Monday, driven by the performance of other cryptocurrencies. Bitcoin rebounded to $63,500 after falling to $60,000 on June 29, hitting its highest level in nearly two weeks, triggering a clear rise in the cryptocurrency market. Ethereum also rose above $3,500.
There are signs that the U.S. Securities and Exchange Commission may approve an Ethereum spot ETF this quarter. Although the agency has sent the S1 filing back to the issuer, there are signs that the approval may be obtained later this quarter. If approved, the ENS token is expected to perform well. If you are interested in WLD, you can join the ranks of great people by taking a look at Diantouxiang;
