Did Vitalik Buterin's Support Cause ENS Token's Price to Skyrocket? 👀
The price of the Ethereum Name Service (#ENS ) token surged by 72% after Ethereum co-founder Vitalik Buterin praised its importance in a recent statement.
Buterin emphasized the necessity for accessibility and affordability of ENS, particularly on #layer-2 networks. He advocated for these networks to allow ENS addresses, aiming to enhance user convenience.
This endorsement led the token's price to spike from $8.50 to an eight-month high of $14.7, later stabilizing at $12.9. Buterin's past proposal in 2022 for a 3% tax on ENS domain names aimed to prevent hoarding, enabling wider adoption and decentralized #ownership .
ENS provides ".eth" domain names as user-friendly alternatives to complex wallet addresses on the Ethereum network, with Buterin's recent support notably impacting the token's valuation.
