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The Ethereum Name Service price surged 13% in the last 24 hours to trade for $21.51 as of 2:13 a.m. EST time.
Trading volume is up nearly 240%, with all signs pointing to increased interest and attention for the token. It comes following a recent collaboration between American publicly traded internet registry GoDaddy and Ethereum Name Service. The integration will see the two networks connect domains with crypto wallets.
We’re thrilled to announce our partnership with @GoDaddy 🎉
Millions of customers can now use their DNS domains in the ENS ecosystem!
Let’s dive into what this means👇 pic.twitter.com/PyrZi4e5cV
— ens.eth (@ensdomains) February 5, 2024
Ethereum Name Service is a domain name protocol running on the Ethereum blockchain. According to an official blog, the two entities are coming together to allow users to link internet domains to their ENS addresses without any charges. This points to renewed interest in connecting blockchain with traditional technologies.
“Beyonce owns Beyonce.xyz, and now she can set up a wallet just by going into the GoDaddy page and entering your address,” said ENS founder Nick Johnson in a statement. “Now Beyonce.xyz is her wallet identifier for all intents and purposes.”
Nevertheless, it is impossible to ignore the fact that ENS is still in court with GoDaddy, having levied charges against the web registry for the sale of an ENS domain “eth.link.”
#Ethereum Name Service ENS, the company backing the .eth domain name, has dragged GoDaddy, a firm providing domain names to websites, to court over breach of contract, covenant etc.#web3 #crypto #nftshttps://t.co/JwqB3sjD05
— Decilizer (@decilizer) September 9, 2022
“I guess, you know, you can have a disagreement with somebody over one thing but still remain good friends and still be happy to partner on other things,” said Johnson, acknowledging that the eth.link case is ongoing. The ENS executive also articulated that the two brands “see eye-to-eye on a lot of things.”
Ethereum Name Service Price Outlook
The Ethereum Name Service price is trading with a bullish bias, recording a double bottom pattern with the 50% Fibonacci level providing support at $17.13.
With the Simple Moving Averages (SMAs) providing downward 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 this is the path with the least resistance.
Increased buying pressure could see the Ethereum Network price extend the climb to the range high at $27.54. Such a move would constitute a 25% climb above current levels.
TradingView: ENS/USDT 1-day chart
On the flip side, if profit booking kicks in, the Ethereum Name Service price could descend below the 50% Fibonacci level at $17.13. An extended fall 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 tag the 200-day SMA at $10.14.
Promising Alternative To Ethereum Name Service
Even as the Ethereum Name Service price pushes towards reclaiming recent highs, investors are turning their attention to eTuktuk. This is a new crypto Initial Coin Offering (ICO) that is focused on electric vehicles – and investors are elated about it.
Standing among the top players in the Web3 space, eTukTuk is the AI-integrated, eco-friendly future of transportation, which allows you to invest and earn right away. Its hallmark is to help Tuk Tuk drivers to switch to more energy-efficient modes of transportation.
Focusing on developing economies, the project leverages the $TUK token to establish Electric Vehicle Charging stations (EVSEs). It also offers staking rewards to investors, while at the same time reducing drivers’ costs.
1/ Witness the groundbreaking transformation of Jammu’s public transport!@TataMotors, India’s vehicle giant, has just rolled out a fleet of Ultra EV air-conditioned electric buses for Jammu Smart City 🧵⚡ pic.twitter.com/TUAwJHlMaz
— eTukTuk (@eTukTukio) February 1, 2024
eTukTuk aims to establish proprietary zero-emission vehicles (ZEVs) and EVSEs. These will be set up in multiple developing economies in South Asia and Africa within their urban and suburban areas.
Explore the full potential of our project and discover how to join our token sale in this insightful article by @cryptonews https://t.co/rJ48D2J48p
— eTukTuk (@eTukTukio) January 29, 2024
Investors can now buy the token for attractive discounts at the presale. For the next seven days, the TUK token will be available for purchase at $0.02625, with presale sales having just surged past $800,000 out of a target objective of $844,058.
Join the eTukTuk sustainable transportation revolution with its green $TUK token presale. Token holders can stake their TUK for annual percentage yields (APY) as high as 275%. Purchase $TUK tokens and stake them to start earning rewards today!
Visit the eTuktuk website and buy $TUK here.
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