Ethereum’s Game-Changing Altcoin Skyrockets Following Vitalik Buterin’s Emphatic Endorsement

So, here’s the buzz – an altcoin based on Ethereum is blowing up in value, and guess who’s singing its praises? None other than Ethereum’s maestro, Vitalik Buterin himself. According to the crypto whiz, this altcoin isn’t just another player in the game; it’s practically the MVP of the crypto ecosystem.

Vitalik’s Call to Action on Social Media

Picture this: Vitalik, with his legion of five million followers on X, laying down the law. He’s urging all those Layer-2 (L2) projects out there to cozy up with Ethereum Name Service (ENS). What’s ENS, you ask? It’s like the VIP pass of the Ethereum blockchain, letting you grab a “domain name” for your transactions instead of dealing with those clunky default addresses.

And why bother with alphanumeric wallet addresses when you can simply use these slick ENS domain names to send and receive funds? Vitalik thinks it’s a no-brainer.

Buterin’s Battle Cry for ENS and L2s

In his own words, Buterin spills the tea: “All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable, and readable directly on L2s. ENS is super-important, it needs to be affordable!”

For those not deep into crypto jargon, L2s like Optimism (OP) or Arbitrum (ARB) are like Ethereum’s sidekicks, helping out with scalability and cost issues.

The Rise and Fall of ENS Value

Now, onto the dollars and cents of it all. Data from the blockchain wizards at Dune Analytics reveals there are a whopping 2.14 million active ENS names, with more than 801,000 unique players in the game.

Just 24 hours ago, ENS was chilling at a modest $8.88. Then, like a rockstar dropping a surprise album, Buterin throws his social media post into the mix. Boom! ENS skyrockets to $14.20, a jaw-dropping 60% gain. Of course, fame is fleeting, and ENS has since eased off a bit, currently holding steady at $12.82 at the time of this scribble. Keep your eyes peeled – the crypto saga continues!