The post ENS Price Surges 5% Amidst ETH ETF Approval, Another Breakout Incoming? appeared on BitcoinEthereumNews.com.

Ethereum Name Service gained over 5% and emerged as the bullish performer in the last 24 hours. Its market cap surged and reached $888.3 Million. Its trading volume jumped 85% to $236 million, signaling significant buying activity.  In the crypto landscape, breaking news has popped out, as the SEC has given the first-ever ETH spot ETFs the green flag. They are set to begin trading on the morning of July 24.  This news was confirmed by @Eric Balchunas (Bloomberg senior ETF analyst), as forms (424(b)) are now available on the site of the U.S. SEC. It meant that the regulatory authority had cleared them for trading. It’s official: Spot Eth ETFs have been made effective by the SEC. The 424(b) forms are rolling in now, the last step = all systems go for tomorrow’s 930am launch. Game on. pic.twitter.com/9MaBDBA8co — Eric Balchunas (@EricBalchunas) July 22, 2024 This news has been perceived as very optimistic and could fly the Ethereum price. Thus, the known relative Ethereum-branded assets could also acquire significant gains ahead, like the Ethereum Name Service (ENS). Ethereum Name Service Statistics! The ENS has been known worldwide as a decentralized naming system. It typically converts complex names that are only readable by machines to ones that are easily understandable by humans. As per the tokenomics details and other stats on CoinMarketCap, ENS’s total supply was 100 Million ENS. Out of them, 32.835 Million ENS floated in the market.  The volume-to-market cap, followed by 24-hour activity, showed good liquidity, with a ratio of 26.04%. Based on recent data, the FDV amounted to $2.703 Billion at press time. ENS exchanged hands at $7.300. Supported by strong fundamentals, it got 75th rank among the top 100 on CoinMarketCap.  Security Score, Twitter score, & Score Radar | Source: Chainbroker Meanwhile, It also had…

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Filed under: News - @ July 23, 2024 5:14 pm