Following Vitalik Buterin’s January third X put up by which he talked about the Ethereum Identify Service, the token rose 39.1% on a day of market weak spot.
In his put up on X, Buterin emphasizes the significance of a trustless, Merkleproof-based CCIP resolver for Layer 2 (L2) options. He emphasised the necessity for ENS subdomains to be registerable, updatable, and readable immediately on his L2, and emphasised the significance of maintaining ENS reasonably priced.
Instantly after this announcement, the worth of Ethereum Identify Service (ENS) soared to $13.94, with a 24-hour buying and selling quantity of $313,149,461. This displays a 39.3% worth enhance over the previous 24 hours and a 26.6% worth enhance over the previous 7 days.
With a circulating provide of 30 million ENS, Ethereum Identify Service’s market capitalization is at present valued at $404,049,922.
The decentralized naming system constructed on the Ethereum blockchain will initially permit customers to take human-readable names like “bob.eth” and affiliate them with identifiers similar to addresses, content material hashes, and metadata. was created to be. That worth carries it in the wrong way. From the remainder of the market falling at the moment.
