Ethereum Name Service (ENS) Price Hits $16.72 on Exchanges

Ethereum Name Service (ENS) traded up 1.8% against the US dollar during the 1-day period ending at 9:00 AM Eastern on March 22nd. Ethereum Name Service has a market capitalization of $595.34 million and approximately $51.33 million worth of Ethereum Name Service was traded on exchanges in the last day. One Ethereum Name Service token can now be bought for about $16.72 or 0.00019896 BTC on cryptocurrency exchanges. In the last week, Ethereum Name Service has traded 2.8% lower against the US dollar.

About Ethereum Name Service

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 35,601,062 tokens. Ethereum Name Service’s official Twitter account is @ensdomains and its Facebook page is accessible here. Ethereum Name Service’s official website is ens.domains. The official message board for Ethereum Name Service is ens.mirror.xyz.

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 presently 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Ethereum Name Service using one of the aforementioned exchanges.

ENS/USD price chart by TradingView