Vitalik Buterin provoked a jump of Ethereum Name Service token to an annual maximum

on January 3, the Ethereum Name Service (ENS) token soared by 80%. The sudden jump to an eight-month high was triggered by Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin, who publicly praised the crypto asset and urged the community to support his project.

on January 3, Buterin addressed the crypto community on X (formerly Twitter), where he said that he considered the Ethereum Name Service «crucial.» He emphasized the need for the service to remain accessible and affordable for all users of the Ethereum network, especially in the second-level (L2) networks.

According to Buterin, the integration of ENS addresses with second-tier networks such as Optimism (OP), Arbitrum (ARB), and Polygon (MATIC) «increases user experience and is critical to Ethereum’s long-term scaling plans.»

This integration is expected to simplify transactions as ENS domains will replace the complex alphanumeric wallet addresses traditionally used in transactions.

After Buterin’s tweet, the ENS token grew significantly. According to CoinGecko, it jumped by 85% from an annual low of $ 8.50 to reach its highest value in the last eight months at $ 15.8.

Ethereum Name Service is a domain platform on the Ethereum blockchain that allows users to purchase domain names. The decentralized naming system was intended to make it easier for users to obtain convenient names, such as «bob.eth,» associated with identifiers such as addresses, content hashes, and metadata. According to Dune Analytics, the Ethereum name service currently has more than 2.1 million registered domains and 800,000 unique members.

Earlier, we reported that Vitalik Buterin’s mother provoked the growth of the Metis token (METIS). The increase in the price of the virtual coin was stimulated by the announcement of the creation of a fund for developers for 4.6 million METIS (approximately $ 184 million), which is scheduled for distribution in the first quarter of 2024.