Ethereum Name Service Price Prediction 2022-2031
- Ethereum Name Service Price Prediction 2022 – up to $22.37
- Ethereum Name Service Price Prediction 2025 – up to $75.12
- Ethereum Name Service Price Prediction 2028 – up to $229.67
- Ethereum Name Service Price Prediction 2031 – up to $682.09
Many people worldwide are attracted to the crypto market due to the hype and probably the fantastic benefits. This article will share important details, and price predictions of one of the latest cryptocurrencies launched a few months ago. However, the cryptocurrency name is Ethereum Name Services — popularly called ENS. Since the launch of this token, many traders have already started investing in this token.
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The greatest application of ENS might as well be the use as a governance token. DAO gave all of the investors/members a vote in the decisions the company makes when spending the raised capital.
Another added value of a DAO and Web3 is the ability to build a community where DAOs represent “a powerful alignment engine to collapse the categories of user or buyer, company or team, and investor into a single group that’s aligned and part of a community that cares about a certain artifact or a certain experience.” Let’s get to know Ethereum Name Service price prediction and if it’s worth being included in your crypto portfolio.
Today’s Ethereum Name Service price is $19.18 with a 24-hour trading volume of $81,909,114. Ethereum Name Service is up 0.07% in the last 24 hours. The current CoinMarketCap ranking is #88, with a live market cap of $388,295,992. It has a circulating supply of 20,244,862 ENS coins and a max. supply of 100,000,000 ENS coins.
What is Ethereum Name Service?
Ethereum Naming Service is a network that allows crypto-enthusiasts to rename their crypto addresses into something more uncomplicated for them to remember easily. Renaming crypto addresses through ENS will enable users to recollect and write their crypto addresses quickly.
It is essential to know that Ethereum Naming Services has been on for years and is financed by the Ethereum blockchain itself. Even though Ethereum Naming Service is based on the Ethereum blockchain, it uses its cryptocurrency known as ENS. Also, you can send and receive any cryptocurrency with the system’s wallet. ENS is used for governance purposes on the blockchain network.
As stated earlier, the ENS token was launched a few months ago, which makes its price a bit difficult to predict, and this is because there is less information about it. This might imply that predicting ENS tokens may be far too optimistic or cautious.
Ethereum Name Service whitepaper
According to the Ethereum Name Service whitepaper, the naming system was created to map human-readable names like Donald.eth to machine-readable identifiers such as ETH addresses, content hashes, etc. Furthermore, the whitepaper also stated that ENS allows reverse resolution, ensuring that metadata such as canonical names can be matched with different addresses on the Ethereum network.
Ethereum Name Service also aims to have the same goal as the internet’s Domain Naming Service. But it has a different framework due to its abilities and limits offered by the Ethereum blockchain network.
ENS Price History
There is little activity that has gone on ENS price action. It is also essential to know that ENS price history cannot indicate its future performance, but it is still worth noting to see how ENS performed in the past few months.
The ENS token was listed in the crypto-market four months ago, on November 9, 2021. At that time, its price was $33.66. ENS price dipped to $22.92 and rebounded to $43.66 at the end of the day.
The next day, the ENS token started trading and fell to a new low; it then hit an all-time high at a price mark of $84.78. However, this was partly due to the hype around the market and the pleasant news the early adopters of the coin received that day when Ethereum Name Service airdropped crypto into their wallet based on how much they held on October 31, 2021. Also, this means that people who had owned the wallet domain names through the service benefitted by generating substantial interest in the token. The next day, the coin saw new heights with an intraday tally of $85.69, serving as its present all-time high.
There was a drastic pullback for the rest of the month, something that would make it challenging to predict ENS. However, the token spent the next few weeks bouncing between the $30 and $50 price mark.
This changed when it experienced a bull run that saw the token move from an intraday low of $46.01 on November 24 to an intraday high of $83.54 on November 27, a more than 80% rise.
While the price kept hovering around $80 for some time, it then dropped and spent much of early December trading in the $50s before slipping again to stand at around $48 on December 9. It had a market cap of about $965m, making it the 219th largest cryptocurrency by that particular metric.
The prolonged bear market had a significant effect on the ENS coin. By January 7, 2022, ENS stopped trading above its launch price and continued to fall. As of February 16, 2022, the coin hit an intraday high of $18.54.
There was a bit of recovery after that, and, despite the attempt to remove ENS director Brantly Millegan over racist and homophobic tweets, ENS still traded at about $15.35 on the afternoon of March 17, 2022.
In late March and early April, ENS experienced a bullish trend, and it reached a price of $21.19 on April 3, 2022. Things went downhill after that, and on April 11, 2022, following the announcement of China’s crypto ban, it reached a low of $13.55.
Ethereum Name Service Technical Analysis
The recent Ethereum Name Service price analysis indicates ENS has been on a firm uptrend in the last month, trading from a low of $12.8 to the current trading price of $19.03.Ethereum Name Service recorded 20/30 (67%) green days with 12.02% price volatility over the last 30 days. Ethereum Name Service trades above the 200-day simple moving average (SMA). The 200-day SMA has been signaling BUY for the last 27 days, since Sep 21, 2022.
Meanwhile, should in case the buyers push the price above the upper boundary of the channel and the daily candlestick close above this barrier, the market price may rally toward the resistance levels of $24, $26, and $28. At the same time, the supports could be located at $14, $12, and $10, respectively.
The current market scenario is bullish as the important technical indicators are signalling an uptrend in prices in the near term. For instance, Ethereum Name Service’s 200-day SMA is predicted to rise in the next month and hit $ 14.37 by Nov 17, 2022. Ethereum Name Service’s short-term 50-Day SMA is estimated to hit $ 19.71 by Nov 17, 2022. The Relative Strength Indicator has been in the positive region, above the 60 levels in the last 14 days, indicating the bullish trend is intact.
Also, the Moving Average (MA) of Ethereum Name Service (ENS) is shown in the chart above. Notably, Ethereum Name Service (ENS) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ENS has entered a bullish state. Therefore, there is a possibility of a reversal trend of ENS at any time.
Overall, the ENS market sentiment is bullish in the near term as the bulls remain in control, and prices may continue increasing in the near term. The current price is oscillating around the $8 mark, and according to this analysis, the immediate resistance levels are $19.55 and $20.5, which, if broken, we could see ENS price soar to highs of $25.00.
Ethereum Name Service Price Predictions by Cryptopolitan
Ethereum Name Service Price Prediction 2022
Our ENS price prediction for 2022 shows that ENS is expected to attain a maximum trading price of $22.37.ENS might retain this trend, and the price might reach $20.42 as the lowest price, while the average forecast price for 2022 is $21.18.
Ethereum Name Service Price Prediction 2023
Our ENS price prediction for the year 2023 is a maximum price of $35.17 and an average trading price of around $30.47.ENS might retrace to a minimum price of $27.41 before the end of the year.
Ethereum Name Service Price Prediction 2024
Our ENS price forecast for 2024 suggests the bullish run might continue, and the ENS token might potentially achieve a maximum value of $51.65.ENS is projected to record a minimum price of $43.65 and $45.15 as the average forecast price.
Ethereum Name Service Price Prediction 2025
Our Ethereum Name Service price forecast for 2025 is a maximum price of $75.12 and an average price of $66.24.ENS is expected to decline to a minimum price of $63.99.
Ethereum Name Service Price Prediction 2026
Our Ethereum Name Service price forecast for 2026 is a minimum value of $94.63 and a maximum value of $109.93. The ENS price forecast for 2025 also suggests an average price of $98.14.
Ethereum Name Service Price Prediction 2027
Our Ethereum Name Service price prediction for 2027 is that the ENS token may hit a maximum coin price of $160.77 and attain an average price of $138.50.The minimum value for the cryptocurrency is estimated to be $133.60 before the end of 2027.
Ethereum Name Service Price Prediction 2028
Our ENS price prediction for 2028 suggests that ENS may attain a maximum price of $229.27 and an average price of $193.58.The minimum value for the cryptocurrency is estimated to be $186.66 before the end of 2028.
Ethereum Name Service Price Prediction 2029
Our ENS price prediction for 2029 is a minimum price of $271.55.Later the price may grow to attain an average value of 281.23 and a maximum coin price of $322.07 by the end of 2029.
Ethereum Name Service Price Prediction 2030
Our ENS price prediction for 2030 suggests ENS might surge to a maximum value of $466.94.ENS might attain a minimum price of $401.40 and an average price of $412.65.
Ethereum Name Service Price Prediction 2031
Our ENS price prediction for 2031 suggests the ENS token could attain new all-time highs and hit a maximum forecast price of $692.09.The digital currency is estimated to attain a minimum of $588.91 and an average price of $605.41 before the end of the year.
Ethereum Name Service Price Predictions by Digital Coin Price
Digital Coin Price predicts a short-term and a long-term Ethereum Name price increase as the website believes the digital currency might end 2022 with a maximum price of $23.17.The site states that by 2027 ENS will be trading at a maximum of $63.17, and by 2030, ENS might potentially attain a maximum level of $108.86.
Ethereum Name Service Price Predictions by TechNewsLeader
Technewsleader is another website that is bullish on ENS future prices as the website has a maximum forecast price of $30.18, which is considerably more bullish than the stated websites. The website predicts ENS to continue the current bull run, and they have given a prediction of $91.97 for 2027 and $578.52 for the next 10 years.
Ethereum Name Service Price Predictions by Wallet Investor
Wallet Investor’s ENS price predictions are bearish on the digital asset as the website terms ENS as a bad investment. The website predicts ENS will decline in price; by December 2022, it might reach an average trading price of around $16.796.The site is bearish in the long-term prospects as it projects ENS to continue declining in the next ten years.
Ethereum Name Service Price Predictions by Industry Influencers
The ENS token benefits significantly from its community. Many crypto coins grow through the challenging bear markets because of their community’s firm belief and the benefits it offers to the crypto space in general. The Ethereum name service token is growing in demand, and more lucrative opportunities are yet to come. The minimum price value of ENS is probably at its lowest during the current bear market, and the Ethereum name service ENS is positioned for upward growth in the future. ENS fans have shown resilience with the naming service, which is a good recipe for future growth, as indicated in the tweet below.
A popular YouTube influencer known as Crypto Grade gave his own view about the future of ENS. According to him, ENS can be a good cryptocurrency in the short term. In the longer term, it is difficult to predict ENS. However, this influencer also advises investors to tread carefully and make their research before investing in ENS in the long term.
Some analysts contend that the bearish movements of ENS do not make it a profitable investment in the short term. The current dip is a good buy opportunity for investors. ENS can reach $90 in 10 years if Ethereum keeps pumping its growth rates. Some even project on $200 by the end of this year.
Conclusion
Ethereum Name Service has occasionally proven to be a decent investment. Aside from the technology, it is also one of the most promising blockchain initiatives in terms of application cases. In addition, the Blockchain is being used in a variety of real-world applications, enhancing its value.
Additionally, just because the Ethereum Name Service is a reasonably new system with much potential, it is entirely possible that another similar product could come along and supersede it, much like Ethereum superseded NXT in terms of proof-of-stake blockchains. Overall, ENS is a good cryptocurrency to invest in, and you can invest in it. This is not investment advice. Hence, it is essential you do your research before investing in this cryptocurrency.
