Why is ENS Price Surging? Ethereum Name Service Teams Up With Internet Domain Giant

The Ethereum Name Service (ENS) token exploded over 21% higher in the last 24 hours, thanks to accelerating adoption from traditional DNS infrastructure giants. The powerful move came directly on the heels of ENS announcing integration with domain registrar juggernaut GoDaddy.

Per details from ENS, GoDaddy customers can now easily link their DNS domains to Ethereum addresses and ENS names. This unlocks “seamless integration with hundreds of applications across the Web3 ecosystem” by mapping human-readable names like John.eth across wallets, NFT platforms, and blockchain explorers.

Essentially, by harnessing ENS technology directly inside their user flows, GoDaddy can onboard millions of customers and businesses onto Ethereum rails in a simplified manner. The strategic bridge between legacy DNS naming infrastructure and cryptographic blockchain domains eliminates significant friction standing in the way of mainstream adoption.

The game-changing network effects from the collaboration with domain giant GoDaddy immediately sparked a renewed frenzy across ENS markets. Over $210 million ENS changed hands in 24 hours, propelling token prices over 21% higher convincingly.

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ENS price surged from a low of $17.87 to a high of $21.89 at press time. The current market cap of ENS stands at $673 million. ENS is also up by over 69% in the last 30 days. The token exhibited a surge in price at the beginning of January after Vitalik Buterin’s tweet.

Source: CoinStats – Start using it today

So in essence, with domain-naming protocols cementing themselves as a vital component of user-friendly blockchain onboarding, ENS continues to assert market leadership and standardization. 

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency