Ethereum Name Service (ENS) Hits Market Capitalization of $267.33 Million

Ethereum Name Service (ENS) traded up 0.8% against the US dollar during the 24-hour period ending at 15:00 PM Eastern on November 24th. In the last seven days, Ethereum Name Service has traded up 2.3% against the US dollar. One Ethereum Name Service token can currently be purchased for about $13.20 or 0.00079674 BTC on major exchanges. Ethereum Name Service has a market cap of $267.33 million and approximately $35.03 million worth of Ethereum Name Service was traded on exchanges in the last day.

Ethereum Name Service Profile

Ethereum Name Service is a Proof-of-Work token that uses the Ethash hashing algorithm. It was first traded on August 11th, 2021. Ethereum Name Service’s total supply is 100,000,000 tokens and its circulating supply is 20,244,862 tokens. Ethereum Name Service’s official message board is ens.mirror.xyz. The official website for Ethereum Name Service is ens.domains. Ethereum Name Service’s official Twitter account is @ensdomains and its Facebook page is accessible here.

According to CryptoCompare, “ENS is a decentralised naming service for web3.The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain.ENS’s job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports ‘reverse resolution’, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum addresses.ENS has similar goals to DNS, the Internet’s Domain Name Service, but has significantly different architecture due to the capabilities and constraints provided by the Ethereum blockchain. Like DNS, ENS operates on a system of dot-separated hierarchical names called domains, with the owner of a domain having full control over subdomains.”

Ethereum Name Service Token Trading

It is usually not possible to purchase alternative cryptocurrencies such as Ethereum Name Service directly using U.S. dollars. Investors seeking to trade Ethereum Name Service should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Ethereum Name Service using one of the aforementioned exchanges.

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