Ethereum Name Service Trading 13% Lower This Week (ENS)

Ethereum Name Service (ENS) traded down 2.7% against the U.S. dollar during the 24-hour period ending at 19:00 PM E.T. on October 2nd. Ethereum Name Service has a total market capitalization of $545.56 million and approximately $55.08 million worth of Ethereum Name Service was traded on exchanges in the last day. One Ethereum Name Service token can currently be bought for approximately $16.48 or 0.00027125 BTC on exchanges. During the last seven days, Ethereum Name Service has traded 13% lower against the U.S. dollar.

Ethereum Name Service Profile

Ethereum Name Service (ENS) is a Proof-of-Work token that uses the Ethash hashing algorithm. It launched on August 11th, 2021. Ethereum Name Service’s total supply is 100,000,000 tokens and its circulating supply is 33,101,136 tokens. The official website for Ethereum Name Service is ens.domains. Ethereum Name Service’s official Twitter account is @ensdomains and its Facebook page is accessible here. 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.”

Buying and Selling Ethereum Name Service

It is usually not currently possible to purchase alternative cryptocurrencies such as Ethereum Name Service directly using US dollars. Investors seeking to acquire Ethereum Name Service should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Ethereum Name Service using one of the exchanges listed above.

ENS/USD price chart by TradingView