Market capitalization trends of cryptocurrencies and the rise of the Ethereum name (ENS) **
The world of cryptocurrencies has recorded rapid growth and development of growth and development in recent years, with new players being alarming on the market. One of the driving forces behind this growth is the increasing acceptance and recognition of various cryptocurrencies by mainstream institutions and individuals. Several cryptocurrencies have achieved considerable attention and traction, including Ethereum Name Service (ENS).
What is ENS?
The Ethereum Name Service (ENS) is a decentralized social network for the Ethereum blockchain. It enables users to create and manage their own clear names such as Github username or e -mail addresses and are linked to their Ethereum accounts. This concept was particularly popular with developers, artists and other creative people who want to present their work without being connected to their traditional digital identities.
Market capitalization trends of cryptocurrencies
The market capitalization trends of various cryptocurrencies have increased in recent months. According to data from Coinmarketcap, a leading cryptocurrency price tracker:
- Bitcoin (BTC) recorded its market capitalization of around 180 billion US dollars at the beginning of 2021 to over 500 billion dollars.
- Ethereum (ETH), one of the largest and most popular cryptocurrencies after market capitalization, has grown from around $ 130 billion in early 2021 to over 220 billion dollars today.
- Other main actors such as Cardano (ADA) and Solana (Sol) have recorded significant growth.
Market capitalization trends: Ens -specific
The market capitalization trends are particularly interesting in connection with the Ethereum Name Service (ENS). According to the data from ENS itself, the total value that is blocked in the network has increased steadily over time:
- In Q1 2022, ENS had a total value in the network of around 100 million US dollars.
- In the second quarter of 2022, this number rose to around 200 million US dollars, which was a significant increase in market capitalization.
- From the second quarter of 2022, the total value of the total value has reached over 400 million US dollars.
Ascension of Ethereum Name Service (ENS)
The rise of ENS can be attributed to several factors. An essential driver is the increasing introduction of decentralized social networks and identity examination services among developers, artists and other creatives. In addition, the growing popularity of the Ethereum blockchain as a platform for decentralized applications (DAPPS) has created new opportunities for users to create and manage their own unique names.
Another factor that contributes to the success of ENS is the focus on scalability, security and user experience. ENS offers a number of functions with which users can easily manage their digital identities, including the possibility of transferring ownership of existing user names to other users or even selling them on the open market.
Diploma
The rise of the Ethereum Name Service (ENS) is an important trend in the world of cryptocurrencies. Since more and more people are aware of the advantages of decentralized social networks and identity survey services, ENS is expected to continue to grow and develop. With the focus on scalability, security and user experience, ENS is well positioned in order to use the increasing demand for digital identities.
recommendations
If you are interested in investing or exploring the world of cryptocurrencies, including ENS,, you will find some recommendations here:
* Create your research : Before you invest in a cryptocurrency or decentralized application (DAPP), make sure that you carry out thorough research and understand the associated risks.
* Diors your portfolio : Spread your investments on a number of cryptocurrencies and investment classes to minimize the risk.