ENS (Ethereum Name Service) rose 17.94% in the last 24 hours.

Gate News Bot news, July 16, according to CoinMarketCap data, as of the time of writing, ENS (Ethereum Name Service) is currently priced at $26.25, having risen 17.94% in the last 24 hours, with a high of $26.33 and a low of $18.75. The 24-hour volume reached $252 million. The current market capitalization is approximately $959 million, an increase of $146 million compared to yesterday.

ENS is the infrastructure for the new generation of the internet. It provides a better web platform for every dreamer, creator, and innovator. ENS is not just a protocol, but a commitment to a better web, built for everyone. ENS names can be used in Web3 as well as across the entire internet. It is your identity: simple, memorable, and unique. ENS names belong 100% to you, with no intermediaries and no bureaucratic processes. It is your property — uncensorable and irreversible.

Important news about ENS recently:

1️⃣ ENS Labs announces the development of its own L2 network Namechain ENS Labs is developing a Layer 2 network called Namechain, which is a rollup solution independent of Layer 2 protocols. The network is planned to launch before the end of 2025, aiming to enhance the scalability and efficiency of the ENS system. This initiative indicates that ENS is actively expanding its technological infrastructure to meet the rising demand.

2️⃣ Linea has been selected as the development partner for Namechain ENS has selected Linea as its development partner for the Namechain Layer 2 network. This strategic collaboration will accelerate the development process of Namechain and may bring more technical advantages and ecosystem support to ENS.

3️⃣ PayPal and Venmo integrate ENS domain name support Global renowned payment platforms PayPal and Venmo have announced support for ENS human-readable blockchain domain names. This significant integration will greatly enhance the usability and accessibility of ENS, allowing more ordinary users to conveniently use ENS domain names for cryptocurrency transactions and identity verification.

The positive developments of ENS demonstrate significant progress in the project's technological innovation and mainstream adoption. The development of Layer 2 networks is expected to enhance the performance and user experience of ENS, while integration with large payment platforms may bring about broader application scenarios. These factors may collectively contribute to the recent rise in ENS prices.

This message does not constitute investment advice, and investors should be aware of market volatility risks.