Today might not be the best day for a cryptocurrency listing, but tokens like Ethereum Name Service (CCC:ENS-USD) are making the most of it. The crypto is cozying up with Coinbase (NASDAQ:COIN) today on a listing. On a day where the market is eyeing correction, the ENS crypto is looking to get the most out of its recent bullish momentum. Can ENS continue its upward streak against the less-than-optimal market conditions? That’s what investors want to know, and that’s why they’re seeking out Ethereum Name Service price predictions.
The Ethereum Name Service has been around as a product for a while now. Using ENS, blockchain users can secure their own dedicated username for the Ethereum (CCC:ETH-USD) network. Domains are even able to take advantage of ENS’s offerings. If one owns a domain, they can launch it on the blockchain using a “.eth” domain name.
No longer does a user have to keep a log of all of their crypto wallet addresses and the like; ENS removes the need for the long, randomized strings of characters that make up a wallet’s identifying code. Finding a user’s address to conduct a transaction is made significantly easier as well through the adoption of ENS services, since users are easily identifiable by their unique name.
But while ENS isn’t a brand new service, the ENS token is. It was launched just over a week ago. ENS is a governance token; by owning ENS, users possess voting power on future changes to the ecosystem. And as a ubiquitous service on Ethereum, users want to own whatever asset they can tie to it.
Ethereum Name Service Price Predictions Get Hot With Coinbase Listing
Owning ENS tokens is becoming easier than ever today, thanks to the crypto’s listing on Coinbase. The Coinbase exchange made known its plans to list ENS on Monday, stating that the token will launch today, so long as liquidity conditions are met. Of course, Coinbase is one of the largest crypto exchanges in the world, surpassed only by Binance (CCC:BNB-USD) in terms of transaction volume. The listing will provide the token lots of new exposure.
With the listing, ENS is hoping to recapture its all-time high of $84, which it reached last week before slumping to $52 alongside the rest of the market this morning. Could it reach these values once again, and maybe even more? Let’s take a look at some Ethereum Name Service price predictions and see what analysts are thinking:
- DigitalCoin expects ENS to close in on its all-time high once again by the close of the year. The site’s end-of-2021 prediction prices ENS in at $80.
- PricePrediction thinks the $80 price tag is a ways off for ENS. The site is predicting ENS to close out this year near current values, and reach $80 at the close of 2022.
- Crypto price blog CoinMonks thinks ENS could soar north of $100 as it continues to age; more bullish predictions point to prices ultimately soaring toward $1,000.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
