Introduction to Ethereum Name Service and Georgian Lari Exchange
Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. It maps human-readable names like ‘name.eth’ to machine-readable identifiers such as Ethereum addresses, content hashes, and metadata. The Georgian Lari (GEL) is the official currency of Georgia, issued by the National Bank of Georgia. For those looking to convert between these two assets, understanding the real-time exchange rate is crucial.
This guide provides a comprehensive overview of the ENS to GEL conversion process, current market rates, and factors influencing their value. Whether you are trading, investing, or simply curious, having accurate and up-to-date information is key to making informed decisions.
Current ENS to GEL Exchange Rate
As of the latest update, the live conversion rate for Ethereum Name Service to Georgian Lari is:
1 ENS = 51.3 GEL
This means that for every 1 ENS you hold, you would receive approximately 51.3 Georgian Lari based on current market conditions. It is important to note that cryptocurrency prices are highly volatile and can change rapidly. Therefore, always verify the most recent rates before proceeding with any transaction.
Sample Conversion Calculations
- 5 ENS = 256.5 GEL
- 10 ENS = 512.99 GEL
- 50 ENS = 2,564.96 GEL
- 100 ENS = 5,129.92 GEL
Conversely, to determine how much ENS you can get for your GEL:
- 1 GEL = 0.01949 ENS
- 50 GEL = 0.9747 ENS
Please remember that these calculations do not include any potential platform trading fees or network transaction costs (e.g., gas fees), which will affect the final amount you receive.
Understanding the ENS/GEL Price Chart and Historical Data
Tracking the price chart and historical data is essential for spotting trends and making predictions. Over the past 24 hours, the ENS to GEL pair has experienced a change of -1.72%.
Recent Price Performance
| Time Frame | High | Low | Change |
|---|---|---|---|
| Past 24 Hours | 53.23 GEL | 50.59 GEL | -1.72% |
| Past 7 Days | 53.77 GEL | 48.09 GEL | +1.73% |
| Past 30 Days | 53.77 GEL | 48.09 GEL | +0.11% |
| Past 90 Days | 68.76 GEL | 43.66 GEL | +7.05% |
This data shows that while the price has seen some short-term decreases, it has generally trended upwards over the past week and month. The highest recorded price in the last 90 days was 68.76 GEL per ENS.
What is Ethereum Name Service (ENS)?
Ethereum Name Service is a critical piece of infrastructure within the Web3 ecosystem. It simplifies user interactions with the blockchain by allowing wallets to send funds to easy-to-remember names (e.g., john.eth) instead of long, complex hexadecimal addresses. This improves usability and reduces the risk of errors in transactions. The value of the ENS token is tied to the utility and adoption of this naming service.
What is the Georgian Lari (GEL)?
The Georgian Lari (₾) is the national currency of Georgia. It is a traditional fiat currency regulated by the country's central bank. Unlike decentralized cryptocurrencies, its value is influenced by national economic policies, inflation rates, and geopolitical stability. For Georgians and those doing business in the region, converting digital assets like ENS into GEL is a common way to realize value in the local economy.
How to Convert ENS to Georgian Lari
Converting your Ethereum Name Service tokens to Georgian Lari typically involves a few steps, as direct pairs may not always be available on all exchanges.
- Choose a Reputable Exchange: Select a platform that supports both cryptocurrency trading and fiat withdrawals in GEL.
- Trade ENS for a Stablecoin: Often, the most efficient path is to first trade your ENS for a stablecoin like USDT, which has high liquidity and many trading pairs.
- Sell Stablecoin for GEL: Once you have USDT, you can then sell it for Georgian Lari on the exchange's spot market or through a peer-to-peer (P2P) platform.
- Withdraw to Your Bank Account: After the conversion, you can withdraw the GEL directly to your linked Georgian bank account.
👉 Explore more strategies for converting crypto to local currency
Always be aware of the processing times and fees associated with each step to ensure you get the best possible rate.
Frequently Asked Questions
What is the current price of 1 ENS in GEL?
The current price for 1 Ethereum Name Service (ENS) is approximately 51.3 Georgian Lari (GEL). However, this rate fluctuates constantly due to market volatility.
How much GEL can I get for 5 ENS?
Based on the current rate of 1 ENS = 51.3 GEL, 5 ENS would be worth about 256.5 GEL. This is a preliminary calculation and the final amount may vary after exchange fees are applied.
What was the all-time high for ENS in GEL?
The all-time high for 1 ENS was around 227.81 GEL. The current price is significantly lower than this peak, reflecting the volatile nature of the cryptocurrency market.
Is the price of ENS going up or down?
Over the past week, the price of ENS has increased by 1.73%. However, in the last 24 hours, it has decreased by 1.72%. Short-term movement can be unpredictable, so it's important to look at long-term trends for investment context.
Why does the ENS to GEL exchange rate change?
The rate changes due to a combination of factors, including overall supply and demand for ENS on global cryptocurrency exchanges, market sentiment, developments in the Ethereum ecosystem, and the broader economic conditions affecting the value of the Georgian Lari.
Can I buy ENS directly with GEL?
It is uncommon to find direct ENS/GEL trading pairs on major exchanges. The typical process involves using an intermediate stablecoin like USDT. You can use a trusted platform to buy USDT with GEL and then trade that USDT for ENS on a spot market.
Conclusion
Converting Ethereum Name Service to Georgian Lari requires an understanding of the current exchange rates, market trends, and the mechanics of cryptocurrency exchanges. The ENS to GEL pair demonstrates the dynamic intersection of decentralized digital assets and traditional national currencies. By using reliable tools and staying informed about price movements and fees, you can navigate this process effectively. Always remember to double-check the live rate immediately before any transaction to ensure you have the most accurate information.