The Ethereum Name Service (ENS) derivatives market hits new highs.

Ethereum Name Service (ENS) has been making waves in the derivatives market recently, with open interest soaring to a record high of $153 million.

As a decentralized domain name service on the Ethereum blockchain, ENS simplifies the use of complex blockchain addresses by providing humanized names, improving transaction convenience and security.

Since June 25, ENS open interest has surged by more than 105%. This strong momentum has been accompanied by a significant increase in trading activity, indicating the market’s optimism about its prospects. At the same time, the price of ENS also climbed accordingly, rising by about 40% in seven days. Analyst Javon even predicted that it is expected to soar 138% to $76.12.

ENS's good financing interest rate further confirms the positive attitude of market bulls. The current financing interest rate is 0.01%, showing that most traders are bullish on the future trend of ENS.

Since its launch, ENS has seen steady growth in its adoption rate and usage, and has become an indispensable part of the Ethereum ecosystem.

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