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ENS and the Patient Case for an On-Chain Namespace There is a particular kind of crypto asset that refuses to behave like a story and instead behaves like infrastructure, and Ethereum Name Service is one of the clearest examples on the board today.
The token trades around $6.43, with a market capitalization just over $260 million, and it has spent the better part of four months locked inside a corridor between roughly $6.00 and $7.50.
Nothing about that range is dramatic. Nothing about it is meant to be.
The interesting question is what to read into the patience of a market that neither sells the asset off nor finds the conviction to bid it back toward the double digits it briefly touched earlier in the year.
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