TronWeekly

Crypto World News

You are here: Home / Archives for ENS

ENS

Huge Spikes in PEPE Network: The Next Big Crypto?

by

The PEPE token has gained significant attention from both retail and institutional investors. Prominent market analysts like Santiment and Whale Alert have highlighted notable trends in the token’s network activity and whale accumulation, respectively. Additionally, technical analysis from Nebraskangooner provides key insights into the asset’s potential future price movements.

Pepe, http://Fetch.AI, and Ethereum Name Service all have one thing in common – sudden huge spikes in network growth. When coins see a surge in new addresses being created, it is often related to FOMO because of climbing prices (like with ENS), or a potential breakout.

Data from Santiment observed that PEPE, along with Fetch.AI and Ethereum Name Service [ENS], has recorded a significant uptick in network growth. Such spikes often indicate a rise in new addresses being created. While this suggests growing interest and potential bullish sentiment for PEPE, it is likely driven by FOMO due to rising prices or anticipation of a breakout.

On the other hand, the highly anticipated token merger between Fetch.ai, Ocean Protocol, and SingularityNET was originally scheduled for June but has been postponed to July 15, 2024. Santiment warns that wild volatility awaits the FET token up to this date.

Additionally, Whale Alert has highlighted substantial whale activity in the PEPE market. Whales, or large investors, have been accumulating millions of dollars worth of PEPE tokens. This accumulation underscores the growing confidence among large investors and can often precede significant price movements.


While the network growth and whale accumulation suggest bullish potential, Nebraskangooner, a prominent technical analyst, points to caution with the descending triangle pattern. The analysis reveals a descending triangle pattern formation for PEPE, a bearish indicator.

Will PEPE Hold the Line? Critical Support Zone Analysis

Nebraskangooner suggests monitoring for either a breakout or a breakdown from this pattern.
A breakdown could lead to a measured move back to the 99 SMA [Simple Moving Average] support level, which is a crucial juncture for the token’s price movement. The highlighted support zone [green area] marks a significant level where buyers might step in if the price declines, providing a cushion against further downside.

PEPE
Huge Spikes in PEPE Network: The Next Big Crypto? 2

Ethereum’s Bold Move: Reasons to Embrace L2 Protocol

by

Ethereum co-founder Vitalik Buterin has called for the development of an open, decentralized protocol to facilitate the rapid transfer of assets between Layer 2 (L2) solutions. In a recent statement, Buterin emphasized the necessity of a protocol that operates without the need for operators or management, providing users with a seamless and efficient experience.

Buterin’s vision for this protocol involves its integration into the default sending interfaces of wallets, enabling various transactions such as token transfers, Ethereum Name Service (ENS) transactions, and key changes for both personal and enterprise smart contract wallets. This proposed integration aims to streamline the process of moving assets between different L2 networks, which are becoming increasingly popular due to their scalability and lower transaction costs compared to the Ethereum mainnet.

Buterin stated,

“An open, decentralized (operator-less, management-free) protocol to quickly move assets from one L2 to another is essential. This will greatly increase the functionality and usability of Layer 2 solutions and make them more accessible to everyday users.”

Here’s How Ethereum ENS Transforms Address Management

Highlighting the success of ENS, Buterin pointed to it as a prime example of a non-financial application of blockchain technology. ENS allows users to register and manage human-readable names for Ethereum addresses and decentralized websites, and it has seen significant adoption and integration across various platforms. Underlining its impact and potential for broader use cases beyond financial transactions, Buterin noted,

“ENS is the most successful non-financial application of blockchain.”

The push for a decentralized asset transfer protocol is part of ongoing efforts within the Ethereum community to enhance interoperability and user experience across different blockchain layers. As Layer 2 solutions continue to evolve, such innovations are expected to play a crucial role in driving the next phase of blockchain adoption and development.

With Buterin’s proposal, the Ethereum ecosystem is poised to take a significant step forward, making it easier and more efficient for users to navigate the complexities of L2 networks. This initiative underscores Ethereum’s commitment to fostering an open and accessible blockchain environment, setting the stage for broader and more versatile applications of its technology.

Ethereum Breakthrough: GoDaddy Teams Up With ENS

by

In a significant development for Ethereum Name Service [ENS] users, GoDaddy, the world’s largest domain registrar, has entered into a collaboration with the blockchain-based naming system. This partnership marks a major stride towards integrating the ENS ecosystem with mainstream domain registration services, bringing the capabilities of Web3 to GoDaddy’s extensive user base.

To facilitate a seamless experience for its customers, GoDaddy has introduced a dedicated section within its domain management interface. This innovative feature allows users to effortlessly associate an Ethereum address with their domain names, fostering integration with numerous applications across the Web3 landscape. The process is designed to be user-friendly, requiring no additional expenses or technical expertise.

Ethereum
Ethereum Breakthrough: GoDaddy Teams Up With ENS 4

Once configured, these domain names can serve as substitutes for Ethereum addresses in various web3 applications, spanning wallets, block explorers, NFT marketplaces, and more. This move aligns with ENS’s historical role of complementing existing internet infrastructure, with the added benefit of avoiding the substantial transaction fees previously associated with importing DNS names into ENS.

A notable milestone in this collaboration is the integration of gasless DNSSEC, a feature introduced through ENS DAO’s approval of EP5.1 on January 29. This feature enables the utilization of DNS domains in ENS without incurring transaction fees. GoDaddy stands out as the inaugural registrar to embrace this innovative addition to the ENS ecosystem.

The strategic alliance between GoDaddy and ENS aligns with the vision outlined by Ethereum co-founder Vitalik Buterin in the ENS documentation. Buterin emphasized the potential efficiency gains that domain names could bring to layer 2 solutions on the Ethereum network.

Ethereum’s Efficiency Overhaul

Notably, he called for layer 2 solutions to operate on trustless, Merkle-proof-based CCIP resolvers and stressed the importance of making ENS affordable by allowing subdomains to be registerable, updateable, and readable directly on layer 2 solutions.

This collaborative effort is part of a broader initiative outlined in the ENS documentation, emphasizing the necessity for ENS to offer resolution services across the entire Layer 2 ecosystem. The goal is to empower ENS users to leverage the efficiencies provided by layer 2 solutions.

Following Vitalik’s recommendations, the ENS team and the wider ENS and Layer 2 community have been actively engaged in developing a “Layer 2 bridge.” This initiative underscores the commitment to further integrate ENS with existing infrastructure and enhance its accessibility and utility in the evolving Web3 landscape.

Weekly Watch: Bitcoin’s Retreat, Ethereum’s Resilience, and ENS’s 98% Surge

by

In a week marked by notable fluctuations in the cryptocurrency market, Bitcoin faced a retracement to $41.9K, triggering varied performances across the altcoin landscape. While Bitcoin experienced a modest decline, Ethereum showcased resilience, and certain lower-cap altcoins emerged as stars with remarkable gains.

Topping the list of standout performers among lower-cap altcoins was the Ethereum Name Service (ENS), which experienced an extraordinary 98% surge over the past week. ENS reached a peak of $27.42 and, as of the latest data, is trading at $24.04, demonstrating sustained strength with a 3.80% increase in the last 24 hours.

ENS 7D graph coinmarketcap
Ethereum Name Service (ENS) 7-Day Chart | Source: CoinMarketcap

Following closely, Sui (SUI) made waves with a 50% gain during the same period. However, despite its robust weekly performance, SUI is currently trading at $1.27, reflecting a 5.46% decrease in price and a notable 47.40% drop in trading volume over the last 24 hours.

SUI 7D graph coinmarketcap 4
Sui (SUI) 7-Day Chart | Source: CoinMarketcap

Ethereum Classic (ETC) also attracted significant attention, recording a weekly increase of over 36%. Presently, ETC is trading at $27.05, accompanied by a 5.81% price decrease and a 45.56% decrease in trading volume within the last 24 hours.

ETC 7D graph coinmarketcap 2
Ethereum Classic (ETC) 7-Day Chart | Source: CoinMarketcap

Other lower-cap altcoins, including Helium (HNT), Celistia (TIA), and Tezos (XTZ), reported positive performances in their weekly charts. HNT boasts gains with 31%, TIA 26%, and XTZ 25%, respectively, according to data from CoinMarketCap.

Bitcoin & Ethereum Weekly Review

Bitcoin underwent a downturn this week, retracing to $41.9K. On January 11th, Santiment noted that the recent approval of Bitcoin ETFs might lead to a modest decrease in active wallets on Bitcoin’s blockchain. While this is not expected to impact the price significantly, some traders might shift from their existing $BTC wallets to embrace ETF exposure.

Crypto analyst Ali observed that over the past two weeks, every buy or sell signal on the Bitcoin 4-hour chart from TD Sequential has proven accurate. Notably, after the recent decline, this indicator generated a buy signal. If $BTC can maintain a position above $42,200, a potential rebound to $44,300 or $45,500 could be in store.

image 34 1

As of today, Bitcoin is priced at $42,574, boasting a 24-hour trading volume of $25.74B and a market cap of $ 827.39 B. Over the last 24 hours, the BTC price has dipped by 1.67%, contributing to a 4% decrease over the past week.

BTC 7D graph coinmarketcap 19
Bitcoin (BTC) 7-Day Chart | Source: CoinMarketcap

Additionally, Santiment shared via X post that sentiment toward top-cap assets remains notably optimistic during the weekend, especially following the ETF approvals. Traders exhibit a particularly bullish stance towards Ethereum, especially after its market value surpassed $2,700 for the first time.

Moreover, Ali emphasized that despite the recent market shakeout, Ethereum broke out from an ascending triangle on the weekly chart. Amidst short-term volatility, $ETH maintains its target of reaching $3,400.

image 34

Currently, the Ethereum price is $2,530.60, accompanied by a 24-hour trading volume of $13.21B and a market cap of $ 301.85 B. Despite a 2.20% dip in the last 24 hours, Ethereum remains resilient in the weekly chart, showcasing an almost 12% gain.

ETH 7D graph coinmarketcap 20
Ethereum (ETH) 7-Day Chart | Source: CoinMarketcap

Related Reading | China’s Crypto Crackdown: No Sign Of Easing In 2024 

Ethereum Name Service Skyrocket By 2 Million ENS In 2022

by

Ethereum Name Service (ENS) experienced a highly successful year in 2022, with over 80% of the total ENS domains created since its inception being registered during that year, despite the challenging market conditions for cryptocurrencies.

According to data from Dune, as of January 2nd, ENS had approximately 2.82 million names registered and 631,393 owners of ENS domains. It also saw the most ENS registrations of the year, with 459,054 domains registered.

image 15
Source: Dune

Additionally, May 2022 was a successful month for ENS, with many .eth domain registrations likely being influenced by the low gas fees on the Ethereum network at the time. The data shows that it recorded about 64,594 new addresses in May.

image 14
Source: Dune

Ethereum Name Service (ENS) is a decentralized database that enables users to register and manage domain names on the Ethereum blockchain using the ENS token. The token is used for transferring ownership of these domains and for payment when registering and managing domain names.

To register a domain name with ENS, users need to send a certain amount of Ether (ETH) to an address provided by ENS. This ETH will cover the transaction fees and other costs associated with registering the domain name.

To transfer ownership of an ENS domain name, the current owner will need to send a certain amount of ENS tokens along with information about the new owner, like their address and signature. It can be done through exchanges or wallets that support ERC-20 tokens, like MyEtherWallet.

Ethereum (ETH) & ENS Price Analysis

As of now, Ethereum, the second-largest cryptocurrency, is trading at $1,249.01. It has seen a 2.65% increase in the past 24 hours and a 4% increase over the past week, according to Coinmarletcap.

ETHUSDT 2023 01 04 03 28 15
Source: Tradingview

In 2022, Ethereum saw a significant drop in value, falling from over $1,600 to under $1,100. In December, it briefly rose above $1,300 before falling back again. It is also down 75% from its all-time high of $4,878 in November 2021.

Additionally, the data shows that Ethereum Name Service is trading at $11.73. The token’s price is promising in both daily and weekly charts by 4% and 7.72%, respectively. The token’s trading volume is also rising significantly, and it is currently increased by about 48.81% in the last 24 hours.

ENSUSDT 2023 01 04 03 25 56
Source: Tradingview.com

Related Reading | Solana’s Meme Token BONK Is Booming On Its Ecosystem

Amazon.eth ENS Domain Receives $1 Million Worth USDC Bid

by

The Ethereum Name Service, or ENS, domain Amazon.eth was offered one million USDC on Tuesday by an unidentified wallet address on OpenSea.

But there was no response to the offer to acquire the Ethereum Name Service domain, and no deal was made. Despite the fact that the domain name was last sold five months ago for 33 Ether, which was equivalent to almost $100,000 at the time.

Was the ENS owner unaware of the bid?

It is unknown at this point if the owner was simply unaware of the offer, did not think it was close to fair value, or whether the bidding and domain owner accounts were linked in an effort to artificially inflate the asset’s worth or generally a wash trade.

Other bids for the Ethereum Name Service domain currently stand at little under $6,200 USDC, according to statistics from Opensea. Ethereum Name Service has confirmed the legitimacy of the domain name, which is registered to anonymous OpenSea user 4761BF.

Ethereum Name Service is a blockchain naming protocol that enables users to transfer and receive cryptocurrency and nonfungible tokens as well as save avatars and profile photos for usage across devices.

Users would have to first link one‘s wallet and enroll an address before listing a .eth domain for sale on OpenSea.

While many cryptocurrency fans choose unique or imaginative names for the Ethereum Name Service fomains, others have started domain-flipping.

Ethereum Name Service domains containing the names of well-known organizations would be registered in advance, and if the organization later decided to enter the Web 3.0 arena, it would then demand a premium fee for the domain.

Over 1.67 million.eth domains have been registered since its launch in 2017, with roughly 482,000 owners.