ENS (Ethereum Name Service) increased by 15.55% in the past 24 hours

Gate News Bot Report, February 14 — According to CoinMarketCap data, ENS (Ethereum Name Service) is currently priced at $6.68, up 15.55% in the past 24 hours. The highest price reached $7.16, while the lowest dipped to $5.41. 24-hour trading volume is $112 million. The current market capitalization is approximately $255 million, an increase of $34.3 million from yesterday.

ENS is an identity protocol for Web3 designed to convert complex crypto addresses into simple, memorable names. ENS names serve as identity identifiers in Web3, offering concise, easy-to-remember names that maintain consistency across internet platforms. Users have full ownership of their ENS names without intermediaries, fully in control. ENS is governed by a community-driven nonprofit organization dedicated to building a better internet. The platform now has over 630,000 domain owners and 1.34 million domains, with deep collaborations with partners like Rainbow, Brave, GoDaddy, Etherscan, Uniswap, and more, achieving over 600 integrations.

Recent Important ENS News:

1️⃣ Namechain L2 Development Plan Adjusted, Focus Shifts to Ethereum Mainnet Development
ENS Labs has officially shelved its original independent expansion plan for Namechain L2 and decided to focus entirely on developing ENSv2 on the Ethereum mainnet. Previously, ENS planned to collaborate with Linea to develop Namechain as a dedicated Layer 2 network, but this strategy has been abandoned. This adjustment reflects a reassessment of the project’s technical direction, shifting toward a more stable mainnet integration approach.

2️⃣ Cautious Attitude Toward Layer 2 Networks Drives Strategic Reassessment
As the Ethereum ecosystem’s understanding of Layer 2 risks deepens, ENS Labs has reevaluated its expansion route. The project conducted an in-depth risk assessment of Layer 2 solutions and ultimately chose to upgrade and optimize the ENS system on the Ethereum mainnet. This decision underscores a focus on ecosystem security.

3️⃣ Ecosystem Integration Continues to Expand, Supporting Fundamentals
ENS has integrated with over 600 applications, maintaining high levels of domain ownership and domain counts. The extensive ecosystem partner network and growing on-chain applications provide stable fundamental support, strengthening ENS’s position as a Web3 identity infrastructure.

This message is not investment advice. Investors should be aware of market volatility risks.