Ethereum Name Service Price Advances by 13%
The Ethereum Name Service (ENS) price has experienced a sudden 13% upsurge, bringing it to $21.51 as of 2:13 a.m. EST time.
Trading volume has gone up by almost 240%, indicating growing interest and focus on the token. This is happening after a recent partnership between GoDaddy and Ethereum Name Service, a publicly traded internet registry in the US. As part of the alliance, both networks will integrate domains with cryptocurrency wallets.
ENS and GoDaddy Form New Partnership
ENS is a domain name protocol built on the Ethereum blockchain. It’s now allowing users to connect Internet domains to their ENS addresses for free, thanks to the partnership with GoDaddy. This collaboration signifies a renewed effort to bridge the gap between blockchain and traditional technologies.
ENS founder Nick Johnson explained that thanks to this collaboration users, like Beyonce who owns Beyonce.xyz, can now connect their domain to their crypto wallet. However, it’s important to note that ENS is currently in legal conflict with GoDaddy over the sale of the ENS domain “eth.link.”
Price Outlook for Ethereum Name Service
The Ethereum Name Service is displaying a bullish tendency and recording a double bottom pattern with the 50% Fibonacci level. The pathway is further supported by the Simple Moving Averages (SMAs) and leans towards an uptrend. Increased buying pressure could boost the Ethereum Network price to $27.54.
Alternative to Ethereum Name Service
As the Ethereum Name Service price continues to rally, investors are looking into eTuktuk, a new crypto ICO focusing on electric vehicles. eTukTuk ranks in the top players in the Web3 space and aims to establish electric vehicle charging stations in developing economies in South Asia and Africa.
For the next seven days, the TUK token is available for sale at $0.02625, with presale sales just surpassing $800,000 out of the $844,058 target.
Hot Take: The Future of ENS and eTukTuk
The ENS price surging in the wake of the GoDaddy partnership signifies a clear uptrend. Investors turning to eTuktuk, with its focus on sustainable transportation, indicate a growing market and investor interest. Both ENS and eTutuk are showing signs of promise in the ever-evolving crypto and blockchain space.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.