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The Ethereum Name Service price rose 13% over the past 24 hours, trading at $21.51 at 2:13 a.m. EST time.
Trading volume has increased by almost 240%, with all signs pointing to increased interest and attention for the token. It stems from a recent collaboration between the American listed internet registry GoDaddy and Ethereum Name Service. Through the integration, the two networks will connect domains with crypto wallets.
We are proud to announce our partnership with @GoDaddy ????
Millions of customers can now use their DNS domains in the ENS ecosystem!
Let’s take a look at 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 a official blog, the two entities are coming together to allow users to link Internet domains to their ENS addresses at no cost. This indicates a renewed interest in connecting blockchain with traditional technologies.
“Beyoncé owns it Beyonce.xyz, and now she can set up a wallet just by going to the GoDaddy page and entering your address,” ENS founder Nick Johnson said in a statement. “Now Beyonce.xyz is her wallet ID for all purposes.
Nevertheless, it is impossible to ignore that ENS is still in court with GoDaddy, after they filed charges against the web registry for the sale of an ENS domain”eth.link.”
#Ethereum Name Service ENS, the company that supports the .eth domain name, has taken GoDaddy, a company that provides domain names to websites, to court for breach of contract, covenant, etc.#web3 #crypto #nftshttps://t.co/JwqB3sjD05
— Decilizer (@decilizer) September 9, 2022
“I think you can disagree with someone on one thing and still be good friends and still be happy to work together on other things,” said Johnson, who acknowledged that the eth.link case is ongoing. The ENS director also stated that the two brands “agree on many things”.
Ethereum Name Service Price Outlook
The Ethereum Name Service price is trading with a bullish bias and registering a double bottom pattern with the 50% Fibonacci level providing support at $17.13.
Since the Simple Moving Averages (SMAs) provide downside support, the odds favor the upside. The trajectory of the 50-, 100-, and 200-day SMA at $15.88, $12.29, and $10.14 to the north shows that this is the path of least resistance.
The increased buying pressure could see the Ethereum Network price rise to the high range of $27.54. Such a move would represent a 25% increase above current levels.
TradingView: ENS/USDT 1-day chart
On the other hand, if gains are made, the price of Ethereum Name Service could fall below the 50% Fibonacci level of $17.13. A longer decline could see ENS price test the 50-day SMA at $15.88, or lower, the 100-day SMA at $12.29. In a dire case, the Ethereum Name Service price could push the 200-day SMA to $10.14.
Promising alternative to Ethereum name service
Even as the Ethereum Name Service price heads towards regaining recent highs, investors are turning their attention to eTuktuk. This is a new crypto Initial Coin Offering (ICO) that focuses on electric vehicles – and investors are excited about it.
Standing among the top players in the Web3 spaceeTukTuk is the AI-integrated, eco-friendly future of transportation, allowing you to invest and earn right away. Its aim is to help Tuk Tuk drivers switch to more energy-efficient modes of transport.
The project targets developing economies and uses the $TUK token to set up electric vehicle charging stations (EVSEs). It also offers investors strike rewards while reducing costs for drivers.
1/ Witness the groundbreaking transformation of Jammu’s public transport!@TataMotorsthe Indian vehicle giant, has just rolled out a fleet of air-conditioned Ultra EV electric buses for Jammu Smart City ????⚡ pic.twitter.com/TUAwJHlMaz
— eTukTuk (@eTukTukio) February 1, 2024
eTukTuk aims to develop its own zero-emission vehicles (ZEVs) and EVSEs. These will be set up in multiple developing economies in South Asia and Africa, within their urban and peri-urban areas.
Discover the full potential of our project and find out how you can participate in our token sale in this insightful article from @cryptonieuws https://t.co/rJ48D2J48p
— eTukTuk (@eTukTukio) January 29, 2024
Investors can now buy the token at attractive discounts in pre-sale. Over the next seven days, the TUK token will be on sale at $0.02625, with presales just rising above $800,000, having hit the target target of $844,058.
Join eTukTuk’s sustainable transportation revolution with the green $TUK token presale. Token holders can stake their TUK for annualized returns (APY) of up to 275%. Buy and stake $TUK tokens to earn rewards today!
Visit the eTuktuk website and purchase $TUK here.
Also read:
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