Following a Jan. 3 put up on X from Vitalik Buterin mentioning Ethereum Title Service, the token noticed a 39.1% enhance on an in any other case down day for the market.
Within the put up on X, Buterin emphasizes the significance of trustless, Merkle-proof-based CCIP resolvers for Layer 2 (L2) options. He careworn the necessity for ENS subdomains to be registrable, updateable, and readable immediately on L2s, emphasizing the importance of protecting ENS reasonably priced.
Shortly after the announcement, Ethereum Title Service (ENS) skilled a value surge to $13.94, accompanied by a 24-hour buying and selling quantity of $313,149,461. This displays a 39.3% value enhance within the final 24 hours and a 26.6% rise over the previous seven days.
![ENS rises nearly 40% following Vitalik Buterin endorsement - 1](https://crypto.news/app/uploads/2024/01/Screen-Shot-2024-01-03-at-8.53.31-AM-1024x447.png)
With a circulating provide of 30 million ENS, the market cap of Ethereum Title Service is at present valued at $404,049,922.
The decentralized naming system constructed on the Ethereum blockchain was initially created to allow customers to amass human-readable names like “bob.eth” and affiliate them with identifiers comparable to addresses, content material hashes, and metadata, its worth carrying it in the other way from the remainder of the market which is down right now.