Ethereum Name Service Price Prediction 2023-2030: Will ENS reach $100?
Ethereum Name Service Latest Price
Ethereum Name Service Price Prediction: Is Ethereum Name Service a Good Investment?
Ethereum Name Service is an Ethereum blockchain-based platform that converts human-readable ETH addresses to machine-readable codes. It can even facilitate reverse conversions.
It was the first platform to transfer Domain Name Service to decentralized web3. The purpose of ENS is to make blockchain accessible to everyone i.e., with ENS, users can receive any NFT or digital asset with a short and easy link (instead of using alphanumeric codes). Thus, it aims to simplify the user experience with blockchain.
ENS is the native governance token of the Ethereum Name Service and it has a maximum supply of 100,000,000 tokens and out of which 20,244,862 tokens are already in circulation (which is nearly 20% of the total supply). The following are the use cases of the ENS token:
- Being the governance token, ENS provides its holders with a right to vote on various proposals.
- ENS tokens can be staked to generate passive income.
- ENS runs on the Ethereum blockchain.
- The platform uses a proof-of-work consensus algorithm to secure the network.
- With Ethereum Name Services, users can own their username, and store their avatar and other profile data to use across services.
- The platform even allows the launch of censorship-resistant decentralized websites by users.
The key benefit of ENS is that it makes it simple to learn addresses i.e., users no longer need to copy & paste long addresses. Thus, it is a unique concept to adopt. Overall, considering the key features and use cases of the Ethereum Name Service, it seems to be a moderate investment option.
Ethereum Name Service Price Prediction: Will ENS reach $100?
To reach $100, the ENS token needs to grow by just 8.13 times its current market price.
Note that the ENS token reached its all-time high price of $76 in November 2021 where it grew by nearly 1.75 times in less than one month (i.e., from the lowest price of $43.4).
Therefore, considering its 1.75 times growth in one month, we can say that the Ethereum Name Service token will need less than five months to reach a price level of $100. However, it might take slightly more time depending on the market conditions of the economic factors.
Nonetheless, reaching $100 is not a tough target for ENS if market conditions turn out to be in the favor of the token (as it has reached $76 earlier as well).
Ethereum Name Service Price Prediction 2023, 2025 and 2030
- Ethereum Name Service Price Prediction 2023 is $22.6
- Ethereum Name Service Price Prediction 2025 is $42.0
- Ethereum Name Service Price Prediction 2030 is $189.5
Also Read: Bitcoin SV Price Prediction
Ethereum Name Service Price Prediction Today
|Overall Outlook||Partially Bullish|
|1. Market's Wisdom||Partially Bullish|
|1a. Market Data||Neutral|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Partially Bullish|
|2a. Social Media Buzz||Higher|
|2b. Social Media Sentiment||Neutral|
Where Can I Buy ENS Crypto?
ENS tokens can be bought from various major centralized and decentralized crypto exchanges such as Binance, Coinbase Exchange, KuCoin, Kraken, Bithumb, OKX, WazirX, Bitvavo, Gate.io, Gemini, Bybit, SushiSwap and Uniswap.
- Kraken – Kraken is a well-known bitcoin exchange recognised for its safe and dependable platform. It provides a diverse choice of cryptocurrencies for trading, as well as powerful trading tools and great liquidity. Kraken is trusted by millions of consumers across the world and has a solid reputation in the cryptocurrency sector.
- KuCoin – KuCoin is a global cryptocurrency exchange that provides a diverse choice of cryptocurrencies for trade. It is well-known for its user-friendly interface, rigorous security requirements, and diverse range of trading pairings. KuCoin also has its own native token, KuCoin Shares (KCS), which provides benefits to holders.
- ByBit – Bybit is a well-known bitcoin derivatives exchange with an easy-to-use UI and extensive trading capabilities. It provides leveraged trading on cryptocurrencies like as Bitcoin, Ethereum, and others, as well as high liquidity and low costs. Bybit is trusted by traders all over the world and has a significant presence in the crypto derivatives industry.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.