- 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!
— ens.eth (@ensdomains) September 10, 2024
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
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.