$ENS

The Ethereum Name Service (ENS) token is currently trading around $18.21, with a market cap of approximately $647.8 million. Over the past 24 hours, ENS has experienced a slight increase of 0.22%, and the trading volume was $65.6 million.

ENS provides a decentralized domain name service that simplifies the use of Ethereum by replacing long wallet addresses with human-readable names like "yourname.eth." Its benefits include Makes blockchain more user-friendly by replacing cryptographic addresses with readable names.

Operates on Ethereum, ensuring censorship resistance and eliminating single points of failure. ENS tokens are used for governance and influence key protocol decisions.

ENS has significant potential as blockchain adoption increases, particularly in the Web3 ecosystem. Its role in simplifying user interactions with decentralized apps (dApps) and wallets gives it a key utility. Additionally, its Layer-2 scalability plans, like the recently announced Namechain, aim to expand its adoption further by enhancing performance.

While short-term fluctuations depend on broader crypto market trends, ENS's long-term value is tied to the adoption of its domain service. It has previously reached an all-time high of $83.40, indicating room for growth if the ecosystem expands.