Today we will talk about the price prospect of ENS cryptocurrency.
Ethereum Name Service is not a company, but an open source project that calls itself “an open public utility owned by a company.” In essence, it aims to become part of an infrastructure as vital to Web3 (which has been given the laurels of future prospects) as DNS is to the Internet.
ENS is an Ethereum Name Service management token used to manage the protocol and influence the pricing decisions of its eth addresses and price oracle.
Given the hype surrounding the transition of ETH from PoW to PoS in mid-September, the price of ENS will also be directly affected by these changes.
The annual emission of ETH is projected to be only 0.3%, and a significant decrease in supply affects the price growth according to the laws of economics.
By the way, we have an up-to-date forecast for ETH cryptocurrency
On the other hand, we have the original, historically first created Ethereum Classic, which miners are increasingly switching to. Investors’ attention may switch from ETH to ETC because the hash rate has increased by 480% since the beginning of the year and the price of ETCUSDT has increased 3x in just 2 months, and this is in the current sluggish market.
By the way, the current forecast for the cryptocurrency ETC is below:
Cryptocurrency ENS – Summary
It is difficult to predict the price of ENSUSDT given its indirect dependence on the price of ETHUSD, as it is not fully known how market speculators will react to the transition from PoW to PoS.
Even in general, the crypto market has not yet fully decided on the future trend.
However, the information hype surrounding the word “Ethereum”, which is also in the name of the ENS token, can play the role of “trump card” and cause a rapid rise to the $25 area
And if the market trend clearly changes to the upside, then the $40 target will become even more realistic.