The cryptocurrency that grew by 70% in a week is named

Cryptocurrency analysts highlighted a token that gained 70% in value over the week. Ethereum Name Service (ENS) has shown the best performance among the top 100 coins and tokens by market capitalization.

The day before, the ENS rate reached $ 25.88, however, over the past 24 hours, the token’s value has dropped by 3% to $ 24.87. The rapid growth of ENS quotes began after Ethereum developer Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin said that this project will be of great value for the development of the entire blockchain industry.

Ethereum Name Service (ENS) is a decentralized domain name system. It provides users with the ability to bind easy-to-read addresses to their crypto wallets, smart contracts, IP addresses, and other resources on the blockchain.

ENS technology is based on smart contracts and uses distributed hash tables (DHT) and DNS systems. This allows you to register domain names in the «name.eth» format and customize them for use in various scenarios.

With the ENS, users can send and receive digital payments, exchange virtual assets, and interact with decentralized applications using convenient names instead of long and complex addresses. This simplifies the process of using the blockchain. In addition, it reduces the risk of error when sending cryptocurrencies.

As for other digital coins and tokens, Sui (SUI) gained 51.9% over the week, reaching $ 1.28. In addition, it is worth noting the increase in the quotes of Ethereum Classic (ETC), Helium (HNT), Celestia (TIA), and Bonk (BONK). All of these cryptocurrencies managed to jump in value by more than 30% during the reporting period.