Ethereum Name Service (ENS) has recently shown some interesting developments, trading at $27.97 with a 2.10% increase over the past 24 hours. This slight uptick reflects a steady upward trend, indicating ongoing investor interest and market activity.
With a market capitalization of approximately $918.63 million, ENS ranks as the 73rd largest cryptocurrency by market cap. This substantial valuation highlights its established presence in the crypto ecosystem and underscores investor confidence in its utility and potential.
The 24-hour trading volume for ENS is $130.13 million, representing a 4.35% increase from the previous day. This trading activity contributes to a volume-to-market cap ratio of 14.17%, which is relatively high. A high ratio indicates that a significant portion of ENS’s market cap is actively being traded, suggesting strong liquidity and active market engagement.
ENS has a circulating supply of 32,839,999 tokens out of a total supply of 100,000,000. This means that approximately 32.84% of the total supply is currently in circulation. The absence of a maximum supply cap implies that the total supply could potentially increase in the future. The fully diluted market cap, which represents the total market value if all ENS tokens were to be in circulation, is approximately $2.80 billion. This value is significantly higher than the current market cap, indicating that a large portion of the total supply is yet to be released into the market.
Overall, ENS presents a compelling profile within the cryptocurrency space. Its significant market cap and high trading volume reflect its established role and active market participation. The high volume-to-market cap ratio suggests robust liquidity and investor engagement, while the gap between the current market cap and the fully diluted market cap highlights potential future developments as more tokens are introduced into circulation.
Investors should continue to monitor ENS’s market performance and broader trends to make informed decisions. The current metrics suggest that ENS is a well-regarded asset with considerable market activity and growth potential. As always, careful consideration of market conditions and ongoing developments is essential for navigating investments in the dynamic cryptocurrency sector.
