November 27, 2023
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January 5, 2024
Ethereum Name Service (ENS) governance token experienced a significant surge of up to 72% on January 3.
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Ethereum co-founder Vitalik Buterin's endorsement played a crucial role in the token's surge. He emphasized ENS's importance and accessibility for all Ethereum users.
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Buterin urged all Layer-2 solutions to work on trustless, merkle-proof-based CCIP resolvers, facilitating ENS subdomains registration, updates, and readability directly on Layer-2 networks.
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ENS is highlighted for providing a user-friendly way to interact with the Ethereum network by allowing users to replace complex wallet addresses with ".eth" domain names.
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Following Buterin's comments, the ENS token price soared from a yearly low of $8.50 to an eight-month high of $14.69. It has since stabilized around $13.
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Despite the recent surge, ENS token has been on a downward trend since reaching its all-time high of $74.25 in November 2021.
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Buterin's support underscores the vital role ENS plays in the Ethereum ecosystem, emphasizing the need for accessibility and affordability, particularly for users on Layer-2 networks.