Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

ENS rallies following integration on PayPal

Source Fxstreet

ENS Labs announced the integration of Ethereum Name Service on PayPal and Venmo.
Users can now transfer their cryptocurrency using an ENS name rather than copying a wallet address.
ENS is up nearly 5% following the announcement.

ENS Labs soared nearly 5% on Tuesday after announcing that it had integrated its naming service on PayPal and Venmo to foster faster and simpler crypto transactions.

ENS integrated on PayPal and Venmo for swift cryptocurrency transfers

ENS Labs, the team behind the web3 domain naming system Ethereum Name Service, announced today that it has integrated its naming solution into PayPal and Venmo. Users of both platforms can now transfer their cryptocurrency using a domain name instead of a wallet address.

ENS is a domain naming system built on the Ethereum blockchain that allows users to convert long addresses into simpler letters or names for easier recognition.

We’re thrilled to announce that @ensdomains is now supported on @PayPal & @Venmo!

This new feature brings the power of ENS to millions, making crypto transfers easier and more secure than ever—starting in the USA. pic.twitter.com/9hsrhRqEAp
— ens.eth (@ensdomains) September 10, 2024

With the integration of ENS to PayPal and Venmo, users can easily make cryptocurrency transfers by applying a domain name instead of copying a string of alphanumeric figures or scanning QR codes. The announcement stated that users could also store and revisit previous names with which they have completed transactions through the Address Book feature. Currently, the ENS integration is only available to US PayPal and Venmo users.

ENS rallied nearly 5% following the announcement, with its open interest rising nearly 10% in the past 24 hours.

ENS Open Interest

Open interest is the total number of unsettled contracts in a derivatives market. The rising open interest for ENS provides further support for a price rally, suggesting that a bullish momentum is prevailing in the market.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Brent holds above $100 as tanker attacks tighten supply — but four forces are capping the rally Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.

Author Irene Q.

Sep 10, Thu

Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.

US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Author Irene Q.

Sep 11, Fri

US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Gold Price Forecast: PPI and Oil Prices Fuel Inflation Concerns, Can CPI Change Gold's Direction?As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around

Author TradingKey

Sep 11, Fri

As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around

Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Author Irene Q.

7 hours ago

Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

6 hours ago

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Popular Symbols