Benzinga – In an intriguing turn of events, a cryptocurrency with Ethereum (CRYPTO: ETH) in its name has outperformed the original blue-chip currency in weekly gains.
What Happened: Ethereum Name Service (CRYPTO: ENS) nearly doubled over the week, according to data from Benzinga Pro, becoming the market’s largest gainer in the said time period. The coin outperformed heavyweights like Bitcoin (CRYPTO: Bitcoin) and Dogecoin (CRYPTO: DOGE) on its way to the top.
Ethereum, the world’s second-largest cryptocurrency, meanwhile, saw its weekly gains pale in comparison, growing by 27% during the last seven days.
The 24-hour trading volumes also present a telling contrast. While ENS soared 170%, Ethereum saw a 72% rise in trades.
Why It Matters: ENS is a token associated with Ethereum Name Service, a decentralized naming system that converts complex, machine-readable names to…
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