Bitcoin‘s price, currently above $60,000, is yet to establish a firm foothold. Although frequent tests indicate a positive outlook, the abrupt reversals from gradual rises are disheartening. Meanwhile, Ethereum co-founder Vitalik Buterin has made another notable move.
What Does DACC Stand For?
Vitalik Buterin, well-known for praising ENS wallet name services, has registered a new ENS domain, “dacc.eth.” WuBlockchain reported this development on social media. The term “DACC” stands for “defensive acceleration,” contrasting with Silicon Valley’s “effective acceleration.” This concept focuses on advancements in cybersecurity and privacy, aiming for healthier governance.
In the AI realm, rapid growth often overshadows issues like privacy and copyright. The risks of uncontrolled AI development have been widely discussed, although global actions are still in preliminary phases.
ENS Coin’s Performance in 2023
Compared to other altcoins, ENS Coin has shown more resilience this year. While many cryptocurrencies have dipped below their 2023 lows, ENS Coin maintains its support channel. The $16.86 support level remains robust, and recent lower wicks suggest confidence in its medium and long-term potential.
Investors eyeing the next target look towards $20.89. Achieving closures above $25 could allow the coin to target parallel channel resistance again, supporting its potential rise to $27.9 and $34.55.
Investment Insights
- ENS Coin maintains strong support at $16.86, indicating potential for future growth.
- Closures above $25 could trigger bullish momentum towards $27.9 and $34.55.
- A sharp decline in BTC could see ENS Coin sales drop to $12.54.
The current trend suggests a bullish outlook for ENS Coin, although external market movements, especially Bitcoin’s performance, could influence future directions.