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- The ENS crypto price is trading at 109% above its all-time low price.
- The Ethereum Name Service crypto has traded in green for only 10 days in the last 30 days.
Ethereum Name Service (ENS) is a decentralized naming system on the Ethereum blockchain, converting human-readable addresses into machine-readable codes.
Led by Nick Johnson, ENS aims to simplify blockchain accessibility, akin to DNS for the internet. Its open-source model, supported by various entities, fosters decentralization, security, and ease of use in Web3.
The trading volume of the Ethereum Name Service crypto has advanced by 95% in just the last 24 hours from the press time. It shows a huge surge in the engagement of traders in the crypto.
The value of the crypto traded volume in the last 24 hours is $23.593M, and the crypto’s traded volume ranking is #184. Despite this, the market cap of the crypto has been trading flat.
The crypto market cap ranking is #143 as per CoinMarketCap, and the market cap value of the Ethereum Name Service is $435.251M. Also, the crypto’s volume/market cap ratio is 5.37%.
Currently, 31.2% of the maximum crypto supply is in circulation. Also, the circulating supply of the crypto is 31.235M ENS, and the total supply is 100.0M ENS. Also, the fully diluted market cap of the crypto is $1.393B.
The price volatility of the crypto is medium, resulting in 3.83%, and the market cap dominance of the crypto is 0.29%. Despite this, the sentiment of the Ethereum Name Service crypto is bearish.
Holdings Analytics Of Ethereum Name Service Crypto
When writing, 60,529 addresses hold Ethereum Name Service crypto, as per CoinMarketCap. Moreover, 79.65% of the crypto is held by whales, and the rest, 7.04%, is held by investors.
ENS Crypto Derivatives Showing Bears Bias, What’s Inside?
A higher long liquidation of $181.55K has been recorded in ENS crypto over the last 24 hours. That is further followed by a short liquidation of $3.04K, which shows bears in power.
The derivatives traded volume of the crypto has also surged by 97%, resulting in a traded value of $46.81M in the last 24 hours from the press time.
ENS Crypto Technical Analysis
The ENS crypto price can be seen following a strong bearish structure on the daily chart. It is followed by the lower lows and lower highs, made by the price in the last few weeks.
The following behavior of the price of the ENS crypto shows the consistent dominance of bears in the price. Currently, the crypto price is consolidating in a small range, and if it breaks further below the consolidation, more decline might be witnessed.
ENS/USD Chart by TradingView
ENS crypto price has declined below the 50-day and 200-day EMAs on the daily crypto chart. The value of the EMAs is also declining to lower levels, and the 20-day and the 200-day EMAs have formed a death cross.
The MACD is neutral on the daily chart, indicating uncertainty in the trading price of the crypto. MACD metrics are trading in negative territory further, showing a mixed signal on the chart.
The RSI is showing weakness in the crypto trend as the indicator’s value has declined below the 50-level and the 14-day SMA. This shows a weakness in the crypto trend.
Summary
The Ethereum Name Service (ENS) crypto witnesses a surge in trading volume despite a bearish sentiment.
While trading volume spikes, the market cap remains flat. Whales dominate holdings, signaling a bearish bias in derivatives trading.
Technical analysis shows a solid bearish structure, with price consolidating and potential for further decline, though indicators remain uncertain.
The support levels for the ENS crypto are $8.0 and $12.0, while the resistance of the crypto is $17.50 and $23.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
