In a significant announcement at the XRP Ledger Community Summit (#XRPL Apex) held in Amsterdam from 11-13 June 2024, Brad Garlinghouse, the CEO of Ripple, unveiled the name of Ripple’s new stablecoin – $RLUSD. Garlinghouse expressed his fondness for the name, stating, “I like to call it Real USD… Ripple USD”. This development marks a […]
Bitcoin News
Floki Name Service Is Live on BNB Chain
Floki Name Service, a decentralized domain name service by the popular meme coin, is now live exclusively on the BNB Chain mainnet. This service allows users to create a unique .floki domain name, which can be used as an on-chain identity and for other purposes such as launching a decentralized website, blog, or résumé. Built […]
Bitcoin News
Bitname Introduces the First Full-Scale Name Service for the Bitcoin Ecosystem
PRESS RELEASE. Bitname, the first name service provider encompassing the entire Bitcoin ecosystem, is introducing a new protocol standard, SRC101, for Bitcoin Stamps. It allows permanent storage of domain assets on Bitcoin and supports the interconversion and resolution of all Bitcoin address types. It also supports Bitcoin Layer2 and sidechain address linking through unique features. […]
Bitcoin News
Ethereum Name Service Steals The Show: ENS Leaps 70%, Outperforming Crypto Market
Despite the recent challenges in the cryptocurrency market, Ethereum Name Service (ENS) has experienced a notable surge, increasing by 70% in the past week. This remarkable growth contrasts sharply with the overall bearish trend observed throughout 2023. Investors are now questioning whether ENS could be the symbol of recovery rising from the aftermath of the crypto crash.
As of this writing, ENS is trading for .6,3 down nearly 4% in the last 24 hours, data from Coingecko shows. The project has a market capitalization of 1 million, with a 31 million ENS supply in circulation.
Ethereum Name Service: From Frozen Depths To Soaring Heights
Just months ago, ENS lay buried under a blanket of fear, uncertainty, and doubt. Battered by a prolonged crypto winter and regulatory chills, it slumped to a five-year low in June 2023.
Yet, as the new year dawned, a thaw set in. Fueled by a surge of market confidence and a 50% price increase triggered by the recent approval of Spot Bitcoin ETFs, ENS began a relentless climb, shattering its previous peak and leaving investors breathless in its wake.
What Ignited The ENS Engine?
This strong price ascent wasn’t born out of thin air. Several key factors fueled the ENS inferno:
- Layer-2 Endorsement: Ethereum co-founder Vitalik Buterin has become a vocal champion of ENS integration with layer-2 scaling solutions. This vision of faster, cheaper transactions using human-readable ENS domains resonated with users and developers alike, painting a brighter future for the project.
- DeFi Embrace: With decentralized finance (DeFi) taking center stage in the crypto revolution, the ease and security of ENS domains have become increasingly attractive. The ability to send and receive funds using simple names like “alice.eth” instead of long, alphanumeric wallet addresses is a game-changer for user experience.
- Community-Driven Flight: Unlike traditional, centralized naming systems, ENS thrives on a decentralized foundation governed by smart contracts and a DAO. This democratic approach gives users a direct say in the project’s future, fostering a sense of ownership and community that fuels its growth.
Challenges On The Horizon?
Ethereum Name Service is a decentralized naming system on the Ethereum blockchain, for those who are unaware. It enables users to obtain names that are legible to humans, such as “bob.eth,” and associate them with identifiers like addresses, content hashes, and metadata.
Meanwhile, despite the sun-drenched optimism, storm clouds still linger on the horizon. Regulatory uncertainty surrounding Ethereum’s classification as a security or commodity could cast a shadow on ENS’s future. Additionally, the broader crypto market remains susceptible to sudden shifts in sentiment, making sustained growth anything but guaranteed.
The Road Ahead
The ENS rally serves as a powerful testament to its resilience and potential. However, navigating the volatile crypto landscape demands a cautious approach. As with any investment, careful research and a measured understanding of the risks involved are paramount.
One thing is certain: with its user-friendly domain names, community-driven spirit, and increasing DeFi and layer-2 integrations, ENS has carved a unique niche in the crypto ecosystem.
Featured image from Shutterstock
Winner of Canadian Lottery Jackpot Says Impostors Using His Name to Steal Bitcoins
The winner of the Canadian lottery, Scott Gurney, has confirmed that scammers impersonating him on Facebook have conned unsuspecting victims of their bitcoins. To counter the scammers, Gurney said he has stopped accepting or sending friend requests on the social networking platform.
‘Too Good to Be True’
The Canadian Lotto Max jackpot winner, Scott Gurney, has said individuals using his name have been asking social media users to donate bitcoins are likely scammers, a report has said. Gurney, who won million, confirmed that one individual told him they lost 0 worth of bitcoins to a con artist who impersonated the lottery winner.
To lure victims, the con artists reportedly use fake Facebook accounts wherein Gurney is shown holding the lottery cheque. According to a report in the Times Colonist, one person lost bitcoin worth 0 after contacting one of the fake accounts. However, in his message to persons responding to the scammers’ promises, Gurney said they should be wary of offers that are too good to be true. He added:
I’m sorry that people have maybe been down on their luck and are looking for those avenues, but I don’t know many people who just hand out cash easily.
The report also revealed that some of the fake Facebook accounts had gone as far as to discredit other accounts. However, to counter the tactics of scammers, Gurney, a financial adviser, said he is going to stop accepting or sending friend requests on Facebook.
Meanwhile, the British Columbia Lottery Corporation, which handed out the million check to Gurney, has issued a statement warning punters to be wary of solicited messages that ask them to divulge private information.
“Anyone who gets any type of unsolicited message should be cautious and not reveal any personal information or make any monetary payment,” the Canadian Crown Corporation warned.
The lottery company also urged recipients to report such unsolicited messages to the Canadian Anti-Fraud Centre.
What are your thoughts on this story? Let us know what you think in the comments section below.
BONK Tumbles 66% – Can The ‘Dogecoin Killer’ Live Up To Its Name?
The previous 24 hours have been impressive for the cryptocurrency market, which is seeing a broad-based rebound on numerous fronts.
Despite this development, as evidenced by a combined crypto market valuation increase of 3.4% to 0 billion as of Thursday, Solana’s newly minted canine-centered memecoin BONK has experienced a huge price decline relative to its competitors.
As of writing, BONK is trading at .000000968754, and down a whopping 66% in the last seven days, data by Coingecko show. In the last 24 hours alone, BONK has lost 1.6% of its value.
BONK Succumbs To Bearish Pressure
Despite its initial success, the memecoin BONK has had a difficult go of it in the weeks following its launch. The token, which appeared out of nowhere and quickly rose to rank among the top 200 cryptocurrencies in terms of market value, was hit hard by a significant bearish trend around Thursday afternoon.
It has significantly outpaced the market since the beginning of the year, on the heels of a retail buy-up that pitted the dog-themed cryptocurrency against existing meme coin heavyweights Dogecoin (DOGE) and Shiba Inu (SHIB).
There have been claims of wealthy investors purchasing millions, if not billions, of the viral coin BONK during the past few of weeks. Consequently, Thursday’s drop is a shock to investors with high aspirations for the cryptocurrency.
This week, BONK became the latest meme token to attract the attention of traders with a huge 3,300% increase. Following that, the developers of the cryptocurrency burnt their remaining tokens, which represented 5% of the whole BONK cryptocurrency supply.
Dogecoin Rival Leans On Solana Community’s Support
BONK was introduced on December 25, 2022, and its price has since increased by a four-digit proportion. Additionally, the token dominated social trading platforms. Analysts attributed the new token’s success to the Solana community.
The token’s value has been struggling to bounce back from its 66% loss in the face of continued negative growth rate, which caused it to give up some of the gains it made over the previous weeks.
When we zoom in on BONK’s growth during the past two weeks, we see that it has increased by almost 1,000% throughout this period.
All of these occurrences have created a frenzy about the Solana-based token. They also increase the optimism of token holders that the crypto will gain credibility and cease to be a fad.
Nevertheless, as a result of the recent negative outburst, the fully diluted market capitalization has decreased by 32.61% to 2 million, while the 24-hour trading volume of the altcoin has grown by a staggering 200% to million.
This is direct evidence that a substantial number of SOL whales are selling their BONK assets in order to generate large profits.
-Featured image by Decrypt
Ethereum Name Service (ENS) Drops To $16 Support; Will Bears Come Out Top?
- ENS’ price shows strength as price holds strong above the key support zone to avoid price retesting lower point on the daily chart.
- ENS rejected a trend higher above as the price faced a sharp rejection to a region of key Support of .5.
- The price of ENS continues to hold strong above the 50 and 200 Exponential Moving Averages (EMA) as the price aims to rally toward .
The price of Ethereum Name Service (ENS) has continued to hold strong as price trends toward the region of have faced rejection earlier from that region. The crypto market has had little volatility compared to previous weeks, with many altcoins and major crypto players like Bitcoin (BTC) and Ethereum (ETH) continuing to move in a range with few exceptions. The likes of Ethereum Name Service (ENS) have had a great time rallying despite the uncertainty in the market, with many wondering if the resistance would be broken for a higher high. (Data from Binance)
Ethereum Name Service (ENS) Price Analysis On The Weekly Chart.
Despite many altcoins struggling to trend in a range market, the price of ENS has been a standout performer as price rallied and held strong at key support zones showing the strength of buyers not willing to let go of price to sellers.
The price of ENS has had a bad time recently as the price declined from an all-time high of over 0 to a region of before rallying to a high of . ENS’ price faced a rejection from to break higher to the region of .
After the price of ENS was rejected from , the price dropped to a region of , where the price seemed to have formed strong Support and likely a demand zone for future buy orders. The price of ENS rallied from to a high of as the price broke above to rally with more strength to , where it faced resistance back to .
The overall structure for ENS looks good as there are high chances of price retesting the regions of and even higher.
Weekly resistance for the price of ENS – .
Weekly Support for the price of ENS – .5-.
Price Analysis Of ETH On The Daily (1D) Chart
In the daily timeframe, the price of ENS continues to hold strong and trade above the key Support formed at 50 EMA after forming an uptrend line as the price respects this line acting as Support.
The price of ENS needs to break and hold above for the price to trend higher to a region of and possibly .
Daily resistance for the ENS price – .
Daily Support for the ENS price – .5.
Onchain Analysis Of ENS
The ENS price from the on-chain analysis looks more decent despite a fall of over 70%. ENS produced a reasonable return on investment (ROI) of 72% over the past three months compared to other crypto assets that have struggled for the past months.
Featured Image From zipmex, Charts From Tradingview and Messari
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Ethereum Name Service (ENS) Moves Silently With 20% Rise, Will Price Retest $27?
- ENS price outshines the market as price shows strength rallying to a high of .
- ENS tops the crypto price as it cracks over 20% gain in less than 24 hours despite the crypto bloodbath.
- The price of ENS shows bullish signs as the price holds above the 50 and 200 Exponential Moving Averages (EMA) with good volume.
Despite the uncertainty that currently surrounds the cryptocurrency market, the price of Ethereum Name Service (ENS) has been one of the dark horses, rallying from to . The crypto market suffered a new setback when the price of Bitcoin (BTC) fell from around ,000 to ,100 as the Consumer Price Index (CPI) indicated an increase in inflation, negatively affecting the price of BTC with altcoins affected but Ethereum Name Service (ENS) demonstrating incredible strength. (Data from Binance)
Ethereum Name Service (ENS) Price Analysis On The Weekly Chart
Although the crypto market experienced a sharp decline due to the CPI news, the market appeared to be manipulated as Bitcoin’s (BTC) price dropped from ,200 to ,200 in hours. The market quickly recovered as most altcoins began to show strength, with ENS demonstrating how to run the show.
It remains to be seen whether the current bounce is a sham or will be sustained as Bitcoin Dominance rises; this will impact the price of altcoins, particularly when BTC retraces, causing more retracement for altcoins.
October began looking promising for altcoins, as they had significant strength to rally. Many traders are hoping that October will be a month of Uptober for the crypto industry, which has had a difficult bear season.
The price of ENS rose from a low of .5 to a high of , but that region quickly rejected the price, and ENS has struggled to hold this rejection as the price fell to .4 to rekindle that bullish run. The price of ENS showed tremendous strength, bouncing off .4 and continuing its rally to .9.
Weekly resistance for the price of ENS – .5.
Weekly support for the price of ENS – .7.
Price Analysis Of ENS On The Daily (1D) Chart
Daily ENS Price Chart | Source: ENSUSDT On Tradingview.com
The daily timeframe for the price of ENS looks good, showing incredible strength as the price holds above the 50 and 200 Exponential Moving Averages (EMA), acting as support for ENS’ price on the daily timeframe.
ENS’ price needs to overcome the resistance at .5, a break and close above this region would send the price of ENS to a high of -. If the price fails to break above, we could retest the support at .77
Daily resistance for the price of ENS – .5.
Daily support for the price of ENS – .77.
Featured Image From zipmex, Charts From Tradingview
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Ethereum Name Service (ENS) Breaks Out, Can Price Hit $20?
- ENS price continues its bullish structure after a reclaim of the region as the price stays on track to retest major resistance.
- ENS trades above key support as price reclaim 8 and 20-day EMA.
- The price of ENS aims to continue its rally as the price shows bullish strength after breaking out of the descending triangle.
Ethereum Name Service (ENS) has looked more decent in price action against tether (USDT) after breaking out of a descending triangle to set up a more bullish sentiment. The price of Ethereum Name Service looks set to breach the mark. Ethereum Name Service (ENS) has had a favorable response as the prices of altcoins and the crypto market look to bounce from their key support areas, with BNB price looking more stable for a retest of key resistance at . (Data from Binance)
Ethereum Name Service (ENS) Price Analysis On The Weekly Chart.
Despite struggling to break above in recent weeks, with the price rejecting its weekly support, the ENS price has managed to hold its key support at ; with so much uncertainty in the market about where it is headed, the price of ENS showed great strength in that region.
Despite the current bear market that has made trading even more difficult, the price of ENS continues to show strong signs of recovery and has surpassed its monthly return on investment (ROI) for major cryptocurrencies.
After retesting a weekly low of .5, the price of ENS has recently rallied to around but has been rejected in an attempt to break higher in order for the price to trend. For a while, the price of ENS remained range-bound as it attempted to break the mark.
The price of ENS broke above , but it needs to form support above this level for the price of ENS to rally to the region, where it will face its first major test. If the price of ENS fails to hold above , we may see it retest the region, which serves as a good support zone for the price.
Weekly resistance for the price of ENS – .
Weekly support for the price of ENS – .
Price Analysis Of ENS On The Daily (1D) Chart
Daily ENS Price Chart | Source: ENSUSDT On Tradingview.com
On the daily timeframe, the price of ENS continues to look strong as the price aims to rally to a high of after a successful breakout from a descending triangle creating a more bullish scenario for traders to place more buy orders.
The price of ENS currently trades at .4 above the 8 and 20-day Exponential Moving Average (EMA). The prices of .2 and .3 correspond to the prices at 8 and 20-day EMA for BNB on the daily timeframe.
Daily resistance for the ENS price – .
Daily support for the ENS price – .
Onchain Analysis Of ENS
ENS Onchain Data | Source: On Messari.io
The price of ENS, despite still down from an all-time high of , the on-chain analysis shows a more decent outlook for the past three months despite the market sentiment still being bearish. ENS produced a reasonable three-month return on investment (ROI) of 80%.
Featured Image From Zipmex, Charts From Tradingview and Messari
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Ethereum Name Service (ENS) Looks Strong, Eyes $16 Reclaim
- ENS price ranges break above 50 EMA on the daily timeframe.
- ENS price gets rejected as price attempts to break out of an asymmetric triangle.
- The price holds above daily support and could retest daily resistance for a possible break.
Ethereum Names Service (ENS) price showed bullish strength recently, but the price has struggled to break above key resistance against tether (USDT). With Ethereum Name Service (ENS) facing resistance to breaking above , acting as a tough resistance area, the price of ENS continues to trade above daily support as the price aims to break key resistance. (Data from Binance)
Ethereum Name Service (ENS) Price Analysis On The Weekly Chart
After bouncing from its weekly low of as a price rally to a high of before facing a stip rejection, the price of ENS has recently declined, and the price has continued to struggle to rejuvenate its bullish trend.
The price of ENS remains above a critical support level of , acting as a good demand zone for buy orders. For ENS to have a chance to trend higher, the price must break through its weekly resistance of .
To restore a relief bounce, the price of ENS must break and hold above the – resistance level that is preventing the price of ENS from trending higher. If the price of ENS continues to reject , we may see a retest of and possibly a lower support area of on the weekly chart.
If the price of ENS breaks and holds above , it could spark a major rally, as this has proven to be a difficult area for the ENS price to break out of.
Weekly resistance for the price of ENS – -.
Weekly support for the price of ENS – .
Price Analysis Of ENS On The Daily (1D) Chart
Daily ENS Price Chart | Source: ENSUSDT On Tradingview.com
In the daily timeframe, the price of ENS continued to show strength as it faced rejection in an attempt to break out of its range following the formation of an asymmetric triangle with good volume and a bullish continuation pattern.
The price of ENS is .8 higher than the 50 Exponential Moving Average (EMA) but lower than the 200 EMA. The 50 EMA acts as a support for the ENS price, while the 200 EMA acts as resistance. Prices at 50 and 200 EMA for ENS are and , respectively.
A break and close above could see the price of ENS retest a high of .
Daily resistance for the ENS price – .
Daily support for the ENS price – .
Onchain Analysis Of ENS
ENS On-chain Analysis | Source: ENSUSD On Messari.io
The price of ENS from the on-chain analysis looks more decent despite having a fall of over 70%. ENS produced a reasonable return on investment (ROI) of 105% over the past five months compared to other crypto assets that have struggled for the past months.
Featured Image From zipmex, Charts From Tradingview and Messari
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