The world’s largest cryptocurrency exchange announced the listing of the Ethereum Name Service (ENS) coin, which was airdropped to platform users the day before. Shortly after, the price increased by 50% to a new high.
Ethereum Name Service, a popular decentralized naming system, has airdropped its governance token to existing name registrants. The token’s value skyrocketed almost immediately, with many users boasting about large profits on Twitter.If they had decided not to sell, their profits could have increased today as well. The token’s price had settled around $42 when news from Binance sent it up by 50%. As a result, according to CoinGecko, ENS has reached a new all-time high of $68. Its market capitalization briefly surpassed $1 billion, as ENS entered the top 150 coins by that metric.The news that sparked this impressive price increase is that Binance has listed the recently-airdropped coin. Users of the popular exchange can now trade several trading pairs, including ENS/BTC, ENS/BNB, ENS/BUSD, and ENS/USDT, as of earlier today, November 10th. It’s worth noting, however, that Binance will begin accepting ENS token withdrawals on November 11th at 07:00 UTC.