Many people worldwide are attracted to the crypto market due to the hype and probably the fantastic benefits. This article will share important details, and price predictions of one of the latest cryptocurrencies launched a few months ago. However, the cryptocurrency name is Ethereum Name Services — popularly called ENS. Since the launch of this token, many traders have already started investing in this token.
Today’s Ethereum Name Service price is $14.88 USD with a 24-hour trading volume of $181,600,751 USD. Ethereum Name Service is down 15.92% in the last 24 hours. The current CoinMarketCap ranking is #139, with a live market cap of $301,143,297 USD. It has a circulating supply of 20,244,862 ENS coins and a max. supply of 100,000,000 ENS coins.
The greatest application of ENS might as well be the use as a governance token. DAO gave all of the investors/members a vote in the decisions the company makes when spending the raised capital.
Another added value of a DAO and web3 is the ability to build a community where DAOs represent “a powerful alignment engine to collapse the categories of user or buyer, company or team, and investor into a single group that’s aligned and part of a community that cares about a certain artifact or a certain experience.” Let’s get to know ENS if it’s worth being included in your crypto portfolio.
What is Ethereum Name Service?
Ethereum Naming Service is a network that allows crypto-enthusiasts to rename their crypto addresses into something more uncomplicated for them to remember easily. Renaming crypto addresses through ENS will enable users to recollect and write their crypto addresses quickly.
It is essential to know that Ethereum Naming Services has been on for years and is financed by the Ethereum blockchain itself. Even though Ethereum Naming Service is based on the Ethereum blockchain, it uses its cryptocurrency known as ENS. Also, you can send and receive any cryptocurrency with the system’s wallet. ENS is used for governance purposes on the blockchain network.
As stated earlier, the ENS token was launched a few months ago, which makes its price a bit difficult to predict, and this is because there is less information about it. This might imply that predicting ENS tokens may be far too optimistic or cautious.
Ethereum Naming Service whitepaper
According to the Ethereum Name Service whitepaper, the naming system was created to map human-readable names like Donald.eth to machine-readable identifiers such as ETH addresses, content hashes, etc. Furthermore, the whitepaper also stated that ENS allows reverse resolution, ensuring that metadata such as canonical names can be matched with different addresses on the Ethereum network.
Ethereum Name Service also aims to have the same goal as the internet’s Domain Naming Service. But it has a different framework due to its abilities and limits offered by the Ethereum blockchain network.
ENS Price History
There is little activity that has gone on ENS price action. It is also essential to know that ENS price history cannot indicate its future performance, but it is still worth noting to see how ENS performed in the past few months.
The ENS token was listed in the crypto-market four months ago, on November 9, 2021. At that time, its price was $33.66. ENS price dipped to $22.92 and rebounded to $43.66 at the end of the day.
The next day, the ENS token started trading and fell to a new low; it then hit an all-time high at a price mark of $84.78. However, this was partly due to the hype around the market and the pleasant news the early adopters of the coin received that day when Ethereum Name Service airdropped crypto into their wallet based on how much they held on October 31, 2021. Also, this means that people who had owned the wallet domain names through the service benefitted by generating substantial interest in the token. The next day, the coin saw new heights with an intraday tally of $85.69, serving as its present all-time high.
There was a drastic pullback for the rest of the month, something that would make it challenging to predict ENS. However, the token spent the next few weeks bouncing between the $30 and $50 price mark.
This changed when it experienced a bull run that saw the token move from an intraday low of $46.01 on November 24 to an intraday high of $83.54 on November 27, a more than 80% rise.
While the price kept hovering around $80 for some time, it then dropped and spent much of early December trading in the $50s before slipping again to stand at around $48 on December 9. It had a market cap of about $965m, making it the 219th largest cryptocurrency by that particular metric.
The prolonged bear market had a significant effect on the ENS coin. By January 7, 2022, ENS stopped trading above its launch price and continued to fall. As of February 16, 2022, the coin hit an intraday high of $18.54.
There was a bit of recovery after that, and, despite the attempt to remove ENS director Brantly Millegan over racist and homophobic tweets, ENS still traded at about $15.35 on the afternoon of March 17, 2022.
In late March and early April, ENS experienced a bullish trend, and it reached a price of $21.19 on April 3, 2022. Things went downhill after that, and on April 11, 2022, following the announcement of China’s crypto ban, it reached a low of $13.55.
Ethereum Name Service Technical Analysis
Today, ENS’s current price Furthermore, Ethereum Name Service is down 7.30% in the last 24 hours. The current CoinMarketCap ranking is #130, with a live market cap of $356,138,359. It has a circulating supply of 20,244,862 ENS coins and a maximum supply of 100,000,000 ENS coins. The price of ENS is currently above its 50 and 100-day MA. However, its technical indicator suggests the coin is in a strong buy zone, which indicates that investors should buy the token at the moment.
Ethereum Name Service Price Prediction 2022-2030
Wallet Investor
Wallet Investor predicts that ENS is a bad investment. However, they forecast that ENS by the end of 2022 will be equal to $17.56. According to them, ENS is a bad long-term investment, and your current investment may be devalued in the future.
Price Prediction
Price Prediction says that ENS is a good investment. According to them, ENS is likely to have a minimum price of $20.41 and a maximum price of $24.21 by 2022. In the next five years, 2027, Price Prediction forecasts that ENS will have a maximum price of $151.63 and a minimum price of $129.96.
In 2030, ENS is predicted to have a maximum price of $496.68 and a minimum price of $419.63.
Trading Beasts
Trading Beast gave a three-year ENS price prediction. According to them, ENS is expected to have a minimum price of $14.18, an average price of $16.68, and a maximum price of $20.85 by the end of 2022. In 2023, the token is expected to have a maximum price of $41.90 and a minimum price of $28.49. Trading Beast also says that ENS will have a maximum price of $54.72 and a minimum price of $37.21 by 2024. In 2025, ENS will experience a 179.66% price increase, and it will have a maximum price of $63.55, with a minimum price of $43.21 by the end of the year 2025.
Cryptopolitan
Cryptopolitan predicted the price of ENS for the next nine years using past market data and a model capable of finding the optimal price point at any point in time without any human input.
Ethereum Name Service price prediction 2022
In the first week of January 2022, Ethereum Name Service reached $41.63 when it dropped below $14.52 for the first time since January 2021. Ethereum Name Service is on its way to passing the $24.70 mark by the end of this year. Before $24.70, it may break its mark of $85.69 and reach. According to our technical analysis, Ethereum Name Service will break its all-time high of $85.69 and hold between $23.22 and $24.70 soon. Ethereum Name Service is trading at $17.64, and its 24-hour trading volume is around 197.28M.
Ethereum Name Service price prediction 2023
There is a possibility that Ethereum Name Service can break through the $28.47 barrier and hold the market by the end of 2023. The lowest Ethereum Name Service price will be between $23.30 to $28.47, and the most likely Ethereum Name Service price will be steady at around $26.17 by the end of 2023.
Ethereum Name Service price prediction 2024
By 2024, market analysts and experts predict that ENS will start the year at $21.65 and trade around $28.96. According to our predictions, this would be extremely high compared to last year.
Ethereum Name Service price prediction 2025
There is a good chance that Ethereum Name Service 2025 Price Prediction will double in price, but it is also possible that it may not reach its expected maximum $38.85 level. Ethereum Name Service is predicted to reach an all-time high of $33.88 or $38.85 in 2025, and it could be the year of its token.
Ethereum Name Service price prediction 2026
Ethereum Name Service Price Prediction, or ENS, will experience tremendous growth in 2026 as it has the potential to achieve new highs in terms of price points and market cap. Ethereum Name Service’s price is expected to surpass $35.30 in 2026. It has been predicted that Ethereum Name Service will reach the maximum price of $35.30, and the minimum price is expected to be around $28.54 in the next five years from 2026.
Ethereum Name Service price prediction 2027
We predict that Ethereum Name Service will cross a price level of $43.02 in 2027. Meanwhile, Ethereum Name Service is expected to reach a minimum price of $33.92 this year. The maximum price may reach $49.04.
Ethereum Name Service price prediction 2028
By the beginning of 2028, the cost of Ethereum Name Service will reach $55.92, and the price of ENS should reach $55.92 by the end of the year. In addition, ENS can reach up to $51.57 in price. From 2024 to 2028 time gap will bring significant years for Ethereum Name Service growth.
Ethereum Name Service price prediction 2029
In 2029, Ethereum Name Service price 2029 is expected to cross the $71.92 average price level, according to the Ethereum Name Service forecast and technical analysis. By the end of 2029, Ethereum Name Service’s minimum price is expected to be $69.20. Additionally, ENS can reach a maximum price level of $74.48. At the end of 2029, Ethereum Name Service will have an average price of $74.48.
Ethereum Name Service price prediction 2030
Ethereum Name Service price is estimated to reach $78.07 by 2030. With an average trading price of $81.83 throughout 2030, Ethereum Name Service’s value could be $84.61 at its highest. The specialists expect the maximum price to be trading around $81.83.
Ethereum Name Service Price Prediction by Industry Experts
A popular YouTube influencer known as Crypto Grade gave his own view about the future of ENS. According to him, ENS can be a good cryptocurrency in the short term. In the longer term, it is difficult to predict ENS. However, this influencer also advises investors to tread carefully and make their research before investing in ENS in the long term.
Some analysts contend that the bearish movements of ENS do not make it a profitable investment in the short term. The current dip is a good buy opportunity for investors. ENS can reach $90 in 10 years if Ethereum keeps pumping its growth rates. Some even project on $200 by the end of this year.
Final words
It is worth noting that ENS is a new cryptocurrency, and there have been many cryptocurrencies that started in a promising manner before their price plummeted. Even though ENS performance has been pretty encouraging recently, let us not forget that prices can fall quickly.
Additionally, just because the Ethereum Name Service is a reasonably new system with much potential, it is entirely possible that another similar product could come along and supersede it, much like Ethereum superseded NXT in terms of proof-of-stake blockchains. Overall, ENS is a good cryptocurrency to invest in, and you can invest in it. This is not investment advice. Hence, it is essential you do your research before investing in this cryptocurrency.
FAQs about ENS
Is Ethereum Name Service a good investment?
Many experts and traders believe that Ethereum Name Service has been an excellent investment for a long time. Surprisingly, the value is increasing. Therefore, it is guaranteed that the investment will yield a good return.
How much will Ethereum Name Service be worth in 2025?
Many platforms and analysts think that the price of Ethereum Name Service will continue to grow in the next five years, surpassing the $43.02 mark by the end of 2025. Even though the price seems like a stretch, you never know. ENS and other Cryptocurrencies are very volatile and can change direction.
How much will Ethereum Name Service be worth in 10 Years?
There is a considerably higher chance that the price of Ethereum Name Service will increase to $90 in ten years. The Value of 1 Ethereum Name Service can surpass a minimum price of $70.44 and a maximum price of $90.49 within 8 to 10 years.
Source: https://www.cryptopolitan.com/ethereum-name-service-price-prediction/