• Ethereum Name Service (ENS) surges 8% to hit a two-week high amid altcoin buzz.
• Analysts see ENS as one of top Ethereum beta plays.
• If bulls rally, a breakout to $50 could allow a potential retest of $100 amid ETH spike.

Ethereum Name Service (ENS) price has jumped more than 35% this past month and was up 8% in 24 hours on Thursday as some altcoins stole the shine off Bitcoin.

By reaching the current price levels, ENS is seeing its market cap hover near $903 million, while the 24-hour trading volume is up 157% to over $192 million.

Per Coinglass, Ethereum Name Service derivatives data analysis shows volume has spiked more than 120% to over $306 million. Meanwhile, Open Interest in the token is up 30%, with open positions worth of $114 million signalling market interest.

What is Ethereum Name Service?

The Ethereum Name Service (ENS) is an open-source, decentralized naming protocol built on the Ethereum blockchain.

It transforms user-friendly Ethereum addresses, such as jane.eth, into the complex, machine-readable codes recognized by wallets like Metamask. Additionally, ENS supports reverse mapping, allowing metadata and machine-readable addresses to be linked with these human-friendly Ethereum names.

ENS aims to simplify interaction with the Ethereum ecosystem, making it more intuitive and accessible for users, much like the Internet’s Domain Name System (DNS) enhances web usability.

Similar to DNS, ENS employs a hierarchical structure of dot-separated domains, where domain owners have full authority over their respective subdomains.

Analysts are pointing to ENS as one of the top Ethereum (ETH)-beta plays today. With ETH expected to rally in coming months, tokens like EigenLayer (EIGEN), Arbitrum (ARB), Lido DAO (LDO) and Ethereum Name Service (ENS) could be poised for gains too.

Can ENS price reclaim $100$

With interest in ENS rising amid adoption that includes further traction in the Ethereum and Solana name domain ecosystems, price has looked to return to last year’s lofty highs.

Once $ETH breaks this resistance.

20-25% daily gains will become the norm again for Altcoins.

SEND IT! pic.twitter.com/adJQsOe5Fa

— CryptoGoos (@crypto_goos) May 29, 2025

ENS hitting those highs of $48 reached in December 2024 is likely after buyers pushed the altcoin token to two-week highs of $25, a potential technical breakout signals the price could target resistance around $30.

Traction of Ethereum Name Service as a decentralized DNS platform, plus its growing NFT momentum offer additional tailwinds.

On the technical charts, ENS is currently testing resistance near its 200-day moving average and breakout would signal further gains.

RSI and an ascending triangle pattern on the daily chart suggest if buyers reclaim $30, the next uptick could drive prices to 2024 highs. The $100 mark represents a psychological level that ENS bulls will target if risk on sentiment prevails in coming months.

However, if the market flips negative, a downtrend can bring the $20 mark into view. Robust support lies in the $12-$16 range.

• Buenos Aires has launched a digital identity service called QuarkID that uses zero-knowledge proofs
• The service enables privacy by verifying documents without revealing personal data
• QuarkID will expand nationally, with pilots in other Argentinian regions underway

The city of Buenos Aires has unveiled a ground-breaking digital identity service called QuarkID, aimed at enhancing residents’ privacy through advanced cryptographic technology known as zero-knowledge proofs.

Integrated into the miBA app, a platform that has facilitated access to municipal services for the past seven years, QuarkID seeks to give approximately 3.6 million people greater control over their personal information.

Zero-knowledge proofs allow users to verify the authenticity of documents without revealing unnecessary personal data. For instance, residents can confirm their age when purchasing alcohol without disclosing their full birth date or address.

This approach is designed to empower citizens by providing a self-sovereign identity system that prioritizes privacy and security.

“The decision from the beginning was to create a self-sovereign identity system so that citizens can have privacy and security over the documents they acquire ownership of,” stated Diego Fernandez, Buenos Aires’ secretary of innovation and digital transformation.

While zero-knowledge proofs can function independently of blockchain technology, QuarkID utilizes the Ethereum layer-2 network ZKsync Era, which serves as a “security anchor.” This ensures that data can be proven to exist in a specific form at a specific time, thereby reducing the risk of identity theft and fraud.

Users can upload more than 60 types of documents, including birth certificates and vaccination records, with additional documents expected to be added in the coming months. Importantly, no third party, including the municipality, has control over these documents, significantly mitigating the risk of data breaches.

The initiative promises to reduce costs for the government compared to traditional methods of document management, and the pilot program is set to expand beyond Buenos Aires to regions like Jujuy and Tucumán, as well as small towns such as Luján de Cuyo.

Fernandez emphasized the potential for national scaling, stating that technology developed in Buenos Aires could be implemented throughout Argentina and even in other Latin American countries, such as Uruguay.