Ethereum Name Service Hits One Day Trading Volume of $100.64 Million (ENS)

Ethereum Name Service (ENS) traded down 4.7% against the US dollar during the 24 hour period ending at 18:00 PM E.T. on August 11th. One Ethereum Name Service token can now be bought for about $18.30 or 0.00031110 BTC on cryptocurrency exchanges. During the last week, Ethereum Name Service has traded down 3.4% against the US dollar. Ethereum Name Service has a total market cap of $602.50 million and approximately $100.64 million worth of Ethereum Name Service was traded on exchanges in the last 24 hours.

Ethereum Name Service Token Profile

Ethereum Name Service (CRYPTO:ENS) is a Proof-of-Work token that uses the Ethash hashing algorithm. Its genesis date was August 11th, 2021. Ethereum Name Service’s total supply is 100,000,000 tokens and its circulating supply is 32,919,998 tokens. Ethereum Name Service’s official Twitter account is @ensdomains and its Facebook page is accessible here. Ethereum Name Service’s official message board is ens.mirror.xyz. Ethereum Name Service’s official website is ens.domains.

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 buy alternative cryptocurrencies such as Ethereum Name Service directly using US dollars. Investors seeking to trade Ethereum Name Service should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Ethereum Name Service using one of the exchanges listed above.

ENS/USD price chart by TradingView