1. Basic information
• Current price: $33.68 (up 30.26% in 24h) 📈
• Market capitalization: $1.12 billion (#103)
• 24h trading volume: $3.68 billion 🔥
• Circulating supply: 33.16 million ENS (total supply: 100 million ENS)
• ATH: $83.4 (down 59.47% from peak, attractive buying opportunity)
• ATL: $6.69 (up 405.23% from bottom in Oct 2023)
2. What is ENS?
Ethereum Name Service (ENS) is a decentralized protocol that converts complex wallet addresses into easy-to-remember domain names (e.g. yourname.eth).
• Applications: Use for crypto wallets, NFTs, decentralized websites (dApps), and Web3 payments.
• Importance: ENS simplifies and promotes the popularity of blockchain, making the user experience more friendly.
3. Highlights of ENS
• Tremendous Growth: ENS price has increased more than 405% from its low this year, showing strong interest from investors.
• Practical application: Using ENS to register Web3 domain names is becoming a trend, especially with the explosion of NFTs and DeFi.
• Limited Supply: The total supply of ENS is only 100 million, giving the token the potential for long-term price appreciation as demand increases.
4. Challenge
• Strong price volatility: With a 30% increase in 24 hours, ENS may experience a short-term correction.
• Competition in the domain name market: Similar projects like Unstoppable Domains are also thriving.
5. Investment strategy
• Short term: Take advantage of the current bullish momentum to take profit when reaching resistance (near $38-$40).
• Long term: ENS is a token with good fundamental value, suitable for investors who believe in the development of Web3 and blockchain.
• Entry point: If the price corrects below $30, this could be a buying opportunity.
Conclude
ENS is not just a token, but a bridge between blockchain and ordinary users. With its current growth and strong application in Web3, ENS deserves to be on your watchlist. “Are you ready to put your name on the blockchain?” 🌟
