The Ethereum Name Service (ENS) is a network that allows users to rename their crypto addresses for easier recollection and faster writing. It uses its own cryptocurrency, ENS, for governance purposes and allows users to send and receive any cryptocurrency with its wallet. The price of ENS has experienced fluctuations, dropping to as low as $6.7 and reaching an all-time high of $85.69. As decentralized identities and Web3 technology continue to gain adoption, ENS positions itself as a key player. Price analysis indicates a short-term downward trend, with resistance at $37.11 and support at $32.00. The long-term price predictions for ENS indicate significant growth, with forecasts reaching as high as $256.44 by 2031. ENS recently partnered with LineaBuild to develop Namechain, a Layer 2 solution for scaling ENS. Overall, ENS shows potential for investment and growth, driven by the adoption of decentralized domain names and blockchain technology.



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