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The Ethereum Name Service price has surged 13% in the past 24 hours, trading at $21.51 as of 2:13 AM ET.
Trading volume has increased by almost 240%, and all signs point to increased interest and interest in the token. This follows a recent collaboration between US publicly traded internet registry GoDaddy and the Ethereum Name Service. The integration will see both networks linking their domains with crypto wallets.
We are excited to announce our partnership with: @godaddy 🎉
DNS domains are now available to millions of customers in the ENS ecosystem!
Let’s find out more about what this means👇 pic.twitter.com/PyrZi4e5cV
— ens.eth (@ensdomains) February 5, 2024
Ethereum Name Service is a domain name protocol that runs on the Ethereum blockchain. According to the official blog, the two organizations are working together to allow users to link their Internet domains to ENS addresses for free. This signals a renewed interest in connecting blockchain with existing technologies.
“Beyonce owns Beyonce.xyz, and now you can set up a wallet by simply going to the GoDaddy page and entering your address,” ENS founder Nick Johnson said in a statement. “Now Beyonce.xyz is for all intents and purposes her wallet identifier.”
Nonetheless, we cannot ignore the fact that ENS is still pending in court with GoDaddy, filing charges against the web registry for selling the ENS domain “eth.link”.
#Ethereum Name Service ENS, the company behind the .eth domain name, sued GoDaddy, the company that provides the domain name for the website, in court for breach of contract, breach of covenant, and other claims.#web3 #Cryptocurrency #nftshttps://t.co/JwqB3sjD05
— Decilizer (@decilizer) September 9, 2022
“You can have a difference of opinion with someone on one issue and still be good friends and still be happy to work together on other issues,” Johnson said, acknowledging that the eth.link case is ongoing. The ENS executive also said the two brands “see eye to eye on a lot of things.”
Ethereum Name Service Price Outlook
Ethereum Name Service price is trading with a bullish bias as it has recorded a double bottom pattern with the 50% Fibonacci level providing support at $17.13.
The upside is likely as the Simple Moving Average (SMA) provides downward support. Looking at the northward trajectory of the 50-day, 100-day, and 200-day SMAs at $15.88, $12.29, and $10.14, we can see that this is the path of least resistance.
Increasing buying pressure could push the Ethereum network price up to a high of $27.54. Such a move would result in a 25% upside from current levels.
TradingView: ENS/USDT 1-day chart
Conversely, once profit booking begins, the Ethereum Name Service price could fall below the 50% Fibonacci level to $17.13. If the decline is prolonged, ENS price could test the 50-day SMA at $15.88 or the 100-day SMA at $12.29. In severe cases, the Ethereum Name Service price may show a 200-day SMA of $10.14.
A promising alternative to the Ethereum name service
Even though the Ethereum Name Service price is heading towards regaining recent highs, investors are turning their attention to eTuktuk. This is a new cryptocurrency initial coin offering (ICO) focused on electric vehicles, and investors are excited about it.
As one of the leaders in the Web3 field, eTukTuk is an AI-integrated, eco-friendly future of transportation that you can invest in and start earning right away. Its features are intended to help Tuk Tuk drivers transition to more energy-efficient modes of transportation.
Focused on developing countries, the project leverages $TUK tokens to build electric vehicle charging stations (EVSEs). It also provides staking rewards to investors while reducing costs for drivers.
1/ Witness the groundbreaking changes in public transportation in Jammu!@Tata MotorsIndian automobile giant has launched air-conditioned Ultra EV electric buses for Jammu Smart City 🧵⚡ pic.twitter.com/TUAwJHlMaz
— eTukTuk (@eTukTukio) February 1, 2024
eTukTuk aims to build exclusive Zero Emission Vehicles (ZEV) and EVSE. It will be installed in urban and suburban areas in several developing countries in South Asia and Africa.
Explore the full potential of the project and learn how to participate in the token sale with the following insightful articles. @cryptonews https://t.co/rJ48D2J48p
— eTukTuk (@eTukTukio) January 29, 2024
Investors can now purchase tokens at attractive discounts in the pre-sale. Over the next seven days, TUK tokens can be purchased for $0.02625, with pre-sale sales surging past $800,000 of the $844,058 target.
Join the eTukTuk sustainable transportation revolution with our eco-friendly $TUK token presale. Token holders can stake TUK for annual percentage returns (APY) of up to 275%. Buy and stake $TUK tokens to earn rewards starting today!
Visit the eTuktuk website and purchase $TUK here.
Also read:
A new cryptocurrency mining platform – Bitcoin Minetrix
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- Get free Bitcoin every day
- Native token currently in pre-sale – BTCMTX
- Staking Rewards – APY 50% or more
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