Vitalik Buterin Sparks 63% Surge in ENS Cryptocurrency
Date: 2024-01-05 Author: Dima Zakharov Categories: IN WORLD
Vitalik Buterin, the developer behind Ethereum (ETH), has caused a frenzy in the cryptocurrency world by boosting the price of Ethereum Name Service (ENS) tokens by a whopping 63%. This impressive surge has taken the native cryptocurrency of the Ethereum Name Service to new heights.
Buterin emphasized the importance of applying cross-chain interoperability protocols to all second-layer networks, specifically those based on merkle-proof, to make ENS subdomains registrable, updatable, and readable directly on the second-layer network. He stated that ENS holds immense significance and must be easily accessible.
Following Vitalik's announcement, the digital asset ENS experienced a rapid price increase, reaching an all-time high of $14.69, a level not seen since April 2023. However, this bullish trend was short-lived, as the coin's price corrected by 22%. Nevertheless, the cryptocurrency's value still stands at an impressive 43% above its pre-pump levels.
The Surge in ENS Value
Interestingly, former BitMEX CEO Arthur Hayes miscalculated the potential of ENS. He chose to sell ENS tokens for $2.1 million, incurring a 50% loss. If Hayes had held onto his coins until now, he would not only have avoided losses but also made a profit of 3%.
