News Flash: Ethereum Name Service (ENS) native token saw a significant price spike, rising more than 20% in the last 24 hours, according to data from Coingecko. 🚀

This upgrade is driven by increased enthusiasm around the upcoming ENSv2 upgrade, which aims to improve the efficiency and scalability of the naming service.

ENS, the native token of the Ethereum Naming Service, has seen a significant price spike, especially in the last 24 hours. According to Coingecko chart analytics, ENS moved from a low of around $26, a critical resistance level since May 2022, to a peak of around $33.1, nearly a 30% gain.

After this substantial increase, ENS is just $10 million short of reaching a $1 billion market cap, entering the “billionaires club.”

ENS showed signs of recovery in mid-June after a long period of up-and-down movement. However, stronger price action has been seen since the crypto naming service provider's recent announcement of ENSv2.

This new version aims to improve the affordability, flexibility and scalability of ENS.

The ENSv2 upgrade was first announced in May, leading to substantial price performance. As of now, the developer has not announced the launch time of this upgrade.

Come on, discuss further in the comments column! What do you think about this ENS price spike? 🤔