ENS Token Reaches $5 Billion Fully Diluted Market Cap: What You Need to Know

The buzz is real! The Crypto domain tool Ethereum Name Service may have only just launched its native ENS governance token on Monday, but already the tokens have hit a fully diluted valuation that's turning heads: $5 billion.

What does this mean? A fully diluted valuation considers the potential value of a cryptocurrency if all its tokens were in circulation. In the case of ENS, with a maximum supply of 100,000,000 ENS, a fully diluted valuation of a whopping $5 billion highlights the market's anticipation for its future potential.

ENS Price Fluctuations & Market Performance: While the potential is high, the launch hasn't been without volatility. The token’s price saw wild fluctuations on launch due to illiquidity on the Uniswap exchange. At one point, one... (content omitted for brevity, link to other sources here). According to CoinGecko, the token ranks as the 138th-largest crypto in terms of market cap. The token has a market cap of $235 million.

Current ENS Market Data: We update our ENS to USD price in real-time. Ethereum Name Service is up 1.28% in the last 24 hours. The current CoinMarketCap ranking is 82, with a live market cap of $850,299,252 At current prices, its fully diluted valuation is over $5 billion. Since UTC, Ethereum Name Service has increased by 0.91%. It currently has a circulating supply of 33,165,585 ENS and a maximum supply of 100,000,000. The market cap is currently $804.00M, which is a result of multiplying the current price of Ethereum Name Service($22.26) by the total supply(100,000,000 ENS). Ethereum Name

In summary: ENS is making waves with its launch and a significant fully diluted market cap. Keep an eye on its performance as the market stabilizes and its utility grows. Remember to do your own research before investing in any cryptocurrency.