Demex Daily #64: $ENS Token Rises 72% Following Vitalik Buterin's Support and Ownership Proposal

What’s Interesting Today:

The value of the ENS token increased significantly, reaching a 72% rise, following commendation from Vitalik Buterin, Ethereum's co-founder, for the Ethereum Name Service (ENS). Buterin highlighted the importance of ENS's integration with second-layer networks like Optimism, Arbitrum, and Polygon, emphasizing its accessibility and affordability. This endorsement led to the ENS token jumping from a low of $8.50 to a high of $14.7, before settling at $12.9. In September 2022, Buterin had suggested a 3% tax on ENS domains, known as the "Harberger" tax, to prevent monopolization and encourage more decentralized ownership. ENS enables users to use ".eth" domain names as an alternative to complex wallet addresses, and it reached its peak value of $74.25 in November 2021.


Scallop, a DeFi lending protocol on the Sui blockchain, leverages Sui's high scalability and low fees to offer efficient digital asset transactions. It provides features like Scallop Market Coins, an SDK, and low-cost bridging solutions, and is backed by funding from major institutions and the Sui Foundation. Scallop supports lending and borrowing of major stablecoins and SUI, rewarding users with SUI tokens. With a total value locked (TVL) surpassing $40 million by December 2023, Scallop is becoming a prominent player in the DeFi space, focusing on user experience and security.