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Ethereum Name Service Price Prediction 2023-2032: IS ENS a Good Investment?

Ethereum name service price

Ethereum Name Service Price Prediction 2023-2032

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.

The greatest application of ENS might as well be its 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.

How much is ENS worth?

Today’s Ethereum Name Service price is $13.84 with a 24-hour trading volume of $55,905,565. Ethereum Name Service is down 6.66% in the last 24 hours. The current CoinMarketCap ranking is #114, with a live market cap of $280,099,976 USD. 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 wallets 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.

Like many other cryptos on the market, ENS has also recorded some gains in 2023, moving upwards by 26.56% in the past month, and 28% since the start of the year.

ENS YTD graph coinmarketcap
ENS YTD graph coinmarketcap

Ethereum Name Service Technical Analysis

Ethereum Name Service price analysis shows the ENS cryptocurrency has been following an ascending trendline since mid-December. A bullish breakout from the lows of $12.0 was confirmed in early January, allowing ENS to surge past the crucial resistance at $15.0. ENS has had a steady price movement for the last few days and the current price is consolidating near $15.0.

Ethereum Name Service Price Prediction 2023-2032: IS ENS a Good Investment? 7

Ethereum Name Service cryptocurrency price is fluctuating between $14.66 and $15.77 as the bullish momentum slows down. From the technical perspective, ENS is likely to break out of these levels and head towards $20.0 in the near term.

Ethereum Name Service’s current market sentiment is bearish as the Ultimate Oscillator fails to reach higher highs. The 21-day Exponential Moving Average (EMA) has dropped from $15.5 to $14.8 and the 7-day EMA is also trending downwards. This indicates that a bearish trend is likely in the coming days, although a breakout above $17.0 could kick-start another bullish wave.

The Ethereum Name Service market is expected to experience further bullish momentum over the coming weeks as investors look to capitalize on the recent price surge. The Relative Strength Index (RSI) has been steadily increasing since mid-December and is currently hovering just above the 50-level. This suggests that there is still potential for further upside in the coming weeks.

The technical indicators are currently giving bullish signals despite the recent price pullback. The Ichimoku Cloud is showing a strong bullish trend while the Awesome Oscillator is showing a bullish divergence. Additionally, the 50-day moving average is currently positioned just above $15.0, indicating that the current trend is still very much intact.

The Moving Average Convergence Divergence (MACD) indicator has been bullish since early December and continues to suggest an uptrend. The momentum of the MACD histogram is however decreasing, suggesting that the pace of the rally can slow down in the near term.

The monthly Relative Strength Index RSI is currently hovering around 70, indicating that the market is overbought. This suggests that investors should be cautious when trading ENS at these levels and look for pullbacks to enter more positions in the near term.

In conclusion, Ethereum Name is expected to experience further bullish momentum over the coming weeks as investors look to capitalize on the recent price surge. The technical indicators are suggesting that ENS could break out of its current consolidation and head toward $20.0 in the near term.

Ethereum Name Service Price Predictions by Cryptopolitan

ENS, much like many other cryptocurrencies currently available on the market, has seen its value increase in 2023. Its price has increased by 26.56% in the past month and 28% since the beginning of the year. What can investors expect in 2023 and beyond? Here’s what we think about ENS for 2023 to 2032.

Ethereum Name Service Price Prediction 2023-2032: IS ENS a Good Investment? 8

Ethereum Name Service Price Prediction 2023-2032: IS ENS a Good Investment? 9

Ethereum Name Service Price Prediction 2023

Ethereum Name Service ENS price prediction for 2023, is the altcoin to trade at a minimum price of $21.71. The ENS price is expected to reach a maximum level of $25.59 with an average trading price of $22.30.

Ethereum Name Service Price Prediction 2024

The Ethereum Name Service ENS price prediction for 2024 is a minimum value of $31.83 and an average value of $32.72.The maximum forecast price is expected to be $36.58.

Ethereum Name Service Price Prediction 2025

Ethereum Name Service ENS price prediction for 2025 is a minimum price of $43.65 and an average forecast price of $45.29.The maximum price is expected to be $55.18.

Ethereum Name Service Price Prediction 2026

The ENS Ethereum Name Service price prediction for 2026, expects ENS to surge to a maximum price of $76.59 and an average price of $67.74. The ENS price prediction also suggests that the coin could hit a low of $65.47 in 2026.

Ethereum Name Service Price Prediction 2027

Ethereum Name Service ENS price prediction for 2027 suggests Ethereum Name Service price is forecast to reach the lowest possible level of $96.00. As per our findings, the ENS price could reach the maximum level of $112.53 with an average forecast price of $99.39.

Ethereum Name Service Price Prediction 2028

ENS Ethereum Name Service price forecast for 2028, expects ENS to hit a minimum price of $130.94 and an average of $134.92  over 2028. The  Ethereum Name Service ENS forecast a  maximum price of $163.10.

Ethereum Name Service Price Prediction 2029

The Ethereum Name Service ENS price prediction for 2029 is a minimum value of $191.20 in 20. The Ethereum Name Service price could reach a maximum value of $227.58 with an average trading price of $197.95 throughout 2029.

Ethereum Name Service Price Prediction 2030

The Ethereum Name Service price prediction for 2030 is a minimum value of $280.52 and an average trading price of $290.41. The ENS forecast also shows the coin could hit a maximum level of $333.25 during this time period.

Ethereum Name Service Price Prediction 2031

Ethereum Name Service forecast for 2031 is ENS cryptocurrency to hit a minimum value of $414.46 and an average forecast price of $426.08. The maximum forecast price is expected to be $497.76 in 2031.

Ethereum Name Service Price Prediction 2032

Ethereum Name Service ENS price prediction for 2032 suggests the coin could reach a minimum price of $596.00 while the maximum price is $713.70  with an average forecast price of $613.04 throughout 2032.

Ethereum Name Service Price Predictions by Wallet Investor

Wallet Investor uses historical data and AI algorithms to predict the future of digital assets. Based on their research and analysis, they are predicting that Ethereum Name Service will have exponential price growth by the end of 2023 as the website terms ENS as a not-so-good long-term investment.

Wallet Investor’s ENS price prediction for 2023 suggests the coin could reach a maximum price of $15.549 which represents a price change of +4.13% from the current price. Their long-term prospect is ENS coin to reach a maximum price of $17.162 while the rest of the year could remain bullish with a minimum value of $25.59 and an average trading price of $22.30. Wallet Investor is usually bearish on most of the cryptocurrencies and their ENS forecast is no different.

Ethereum Name Service Price Prediction by DigitalCoinPrice

Digital Coin Price is another website that has a bullish outlook on ENS prices as the website suggests it is time to buy Ethereum Name Service now and hold it for at least ten years. They are predicting that ENS can reach a maximum price of up to $32.24 by the end of 2023 with an average trading price of $30.34 throughout this period. DigitalCoinPrice’s ENS forecast also suggests that the coin could hit a minimum level of $56.93 and a maximum of $67.48 by the year 2026.

DigitalCoinPrice’s ENS price forecast for 2030 is a maximum of $155.09 while in 2032, the maximum price is expected to be $288.16 with an average forecast of $287.40.

Ethereum Name Service Price Prediction by Coincodex

Coincodex uses extensive technical analysis and data-driven methods to predict the future of digital assets. According to their technical analysis, the current sentiment for ENS cryptocurrency is bullish, with the Fear & Greed Index showing 52 (Neutral). The website says Ethereum Name Service recorded 20/30 (67%) green days with 11.83% price volatility over the last 30 days. Based on its Ethereum Name Service forecast, it’s now a good time to buy Ethereum Name Service.

Based on Coincodex’s short-term predictions, the price of Ethereum Name Service is likely to decrease by -2.84% and reach $ 14.40 by January 29, 202 before correcting higher by increasing towards $20.05, a price change of 35.29% by February 23, 2023. Their long-term outlook suggests that the ENS trading price would be between $ 44.41 and $ 400.50 meaning the price of Ethereum Name Service is expected to rise by 2,603.16% in the best-case scenario by 2027.

Ethereum Name Service Price Prediction by Market Experts

According to popular Youtube-based market analyst “Mr. Legend Crypto“, Ethereum Name Service is a great long-term investment with a potential to reach $300 by the end of 2025.

YouTube video

The Youtuber has given the technicals of the coin and pointed out that Ethereum Name Service might take a bit of time to reach those levels but will eventually get there. He also said that ENS could hit $50 within a few months, which is quite optimistic compared to other forecasts.

Other market experts have opined their opinion on the future of Ethereum Name Service and most of them are expecting the price to increase significantly in the next few years. For instance, “Cash Talking” a Youtube-based channel specializing in altcoins prediction believes that ENS might spike by over 5000% by 2025 if the underlying blockchain technology progresses as expected.

YouTube video

Conclusion

Ethereum Name Service, like other tokens, has experienced a challenging market in recent years. According to our analysis of current year performance data, Ethereum Name Service is exhibiting slow growth; however, it remains one of the fastest-growing Blockchain projects with practical use cases and strong potential for long-term investment opportunities. Our price assessment reveals that investing in Ethereum Name Service could be an excellent option going forward.

Despite Ethereum Name Service’s bullish prices, its value is unpredictable and can shift at any second. Therefore, if you are a savvy investor looking to make long-term investments in Cryptos, Ethereum Name Service may be the right choice for you. Even though crypto assets come with great rewards they also carry tremendous risk; therefore always remember to practice proper risk management before investing.

<em><strong>Disclaimer</strong>. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.</em>

FAQs

Is Ethereum Name Service (ENS) a good investment?

Many experts and traders believe that Ethereum Name Service has been an excellent investment for a long time. Surprisingly, the value is increasing. Therefore, it is guaranteed that the investment will yield a good return.

How much will Ethereum Name Service (ENS) be worth in 2025?

Many platforms and analysts think that the price of Ethereum Name Service will continue to grow in the next few years, surpassing the $50 mark by the end of 2025. Even though the price seems like a stretch, you never know. ENS and other Cryptocurrencies are very volatile and can change direction.

How much will ENS be worth in 10 years?

There is a considerably higher chance that the price of Ethereum Name Service will increase to $700 in ten years.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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