The price of Ethereum Name Service (ENS), which is notably defying gravity, surged parabolic during a period when most cryptocurrencies are having difficulty stabilising. As of this writing, the token has increased by 25% in only a single day to $22.25. Actually, the ENS indicators are blazing, with a 306% increase in trading volume to $272,321,897 and a sharp rise in market capitalization to $684,026,220.
ENS mega deal with GoDaddy
Name Service for Ethereum emerged from the ashes, propelled by the news of its partnership with GoDaddy, a supplier of website hosting services. The foundation of the connection between the two is expanding the Web3.0 ecosystem’s accessibility.
Users of cryptocurrency who have an ENS domain name can now link them to web pages in accordance with the partnership’s conditions. Users will not be charged for this service. Given that GoDaddy and ENS are already fighting for an eth.link domain, the acquisition has a lot of unusual overtones.
The connection is proof that the mainstream of technology is now turning back towards the blockchain community. The coin has seen a massive surge as investors reevaluate its future favourably, with ENS acting as one of the primary conduits in this endeavour.
How high can ENS soar?
Even though ENS has gained a lot of traction in the domain name market, it is usually not one of the top performing major tokens. However, this recent rise might help ENS regain its previous glory. Its current price of $22.25, however, is putting it on track to rise as high as $30 in the medium to long run.
Even though ENS last reached this price level in early August 2022, the present fundamental bullish twist may contribute to the continuation of this extraordinary price run.
