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Why did the price of ENS go up?

Ethereum Name Service (ENS) increased by 7.65% in the last 24 hours, breaking away from its downward trend over the past week (-20.34%) and month (-30.51%). This bounce is supported by positive technical signals and recent adoption news.

  1. Technical Rebound (Mixed Impact)
  2. PayPal/Venmo Integration (Positive)
  3. Token Unlock Concerns (Negative)

Deep Dive

1. Technical Rebound (Mixed Impact)

Overview:
ENS recovered from a key support level at $17.02, which is the 50% Fibonacci retracement point between its recent low of $8.79 and high of $25.25. The Relative Strength Index (RSI14) moved up from an oversold level of 26.34, indicating renewed buying interest in the short term.

What this means:
The oversold condition (RSI14 below 30 for 10 days) triggered a bounce, helped by $115 million in spot market trading volume. However, ENS faces resistance around $21.45 (30-day moving average) and $21.36 (23.6% Fibonacci level).

What to watch:
If ENS can stay above $18.96 (38.2% Fibonacci level), it may continue to rise. But if it falls below, it could retest the $15.08 support (61.8% Fibonacci level).

2. PayPal/Venmo Integration (Positive)

Overview:
On October 5, PayPal and Venmo integrated ENS resolution, allowing users to send cryptocurrency to easy-to-remember .eth names instead of complicated hexadecimal wallet addresses. More details can be found here.

What this means:
This integration reduces transaction mistakes and introduces ENS to over 430 million active PayPal and Venmo users. This could increase registrations of .eth domains, which is a main source of revenue for ENS. The partnership also strengthens ENS’s position as an important part of Web3 infrastructure, countering concerns about the domain market’s liquidity.

3. Token Unlock Concerns (Negative)

Overview:
ENS will have a token unlock event on October 12, releasing $19.82 million worth of tokens, which is about 1.16% of the circulating supply.

What this means:
Token unlocks often lead to selling pressure, but the recent 24-hour price increase suggests that traders may have already factored this event into the price. ENS’s 7.65% gain outpaced the overall crypto market’s 3.37% increase, showing strong demand specific to ENS.

Conclusion

ENS’s recent price rebound is driven by technical buying, positive momentum from PayPal/Venmo adoption, and less selling pressure from token unlocks. However, Ethereum’s declining market dominance (-1.64% over the past month) and a moderate Fear sentiment index (31 out of 100) may limit further gains.

Key point to watch: Can ENS maintain its price above the 38.2% Fibonacci level at $18.96 after the token unlock to confirm a trend reversal?


What could affect the price of ENS?

The price of Ethereum Name Service (ENS) depends on how widely Web3 identities are adopted, improvements to the protocol, and overall market trends.

  1. ENSv2 Migration – Moving to a Layer-2 solution could lower fees and increase demand (positive).
  2. Token Unlocks – $19.8 million worth of tokens unlocked on October 5, which might lead to selling pressure (negative).
  3. Ethereum Privacy Push – Adding privacy features like stealth addresses could improve usefulness but has mixed effects.

Deep Dive

1. Protocol Upgrades & Scaling (Positive Impact)

Overview: ENSv2 plans to move key functions to a dedicated Layer 2 network called "Namechain," built with Linea’s technology. This change aims to reduce transaction fees by about 90%. ENS has already seen success with integrations like Base App (which hosts over 750,000 .base.eth names) and Gemini’s wallet recovery system using ENS subdomains.

What this means: Lower fees could encourage more people to register .eth domain names (currently over 2 million), which would increase revenue for the ENS protocol. For example, when Coinbase Germany listed ENS in July 2025, the price jumped 38% in just one week.

2. Token Unlocks & Supply Dynamics (Negative Impact)

Overview: On October 5, 19.82 million ENS tokens (valued at about $19.8 million at $1 per token) were unlocked. This is part of a larger trend with over $1 billion in crypto tokens unlocking in October. Earlier, in August, 4 million ENS tokens were moved to Coinbase and FalconX, hinting at potential selling.

What this means: More tokens entering the market increases supply by 5.3%, which has historically led to price drops. For instance, token unlocks in February 2024 were followed by a 29% price decline within 30 days. The current Relative Strength Index (RSI) of 26.34 suggests the token is oversold, which could lead to more price swings.

3. Ethereum’s Privacy Ecosystem (Mixed Impact)

Overview: Ethereum’s Privacy Stewards initiative, launched in September 2025, integrates ENS with privacy tools like stealth addresses and zero-knowledge proofs. This allows .eth names to serve as privacy-focused digital identities. However, competing standards such as SIWE and Decentralized Identifiers (DIDs) may split user interest.

What this means: These privacy features might attract institutional users who value confidentiality but could make the system harder for everyday users to navigate. ENS’s involvement in projects like MACI (private voting) and Aztec’s zero-knowledge Layer 2 solutions offers specialized uses but may not appeal broadly.

Conclusion

ENS faces short-term challenges from token unlocks and a weak altcoin market but holds long-term potential through Ethereum’s evolving identity solutions. Keep an eye on .eth registration numbers after the ENSv2 launch—if registrations grow by more than 10% each quarter, it could signal a stronger network effect. The key question is whether the Layer-2 migration can balance out the increased token supply from October’s unlocks.


What are people saying about ENS?

ENS is at a crossroads, balancing positive news from new partnerships with some technical warning signs. Here’s the latest:

  1. Gemini partnership boosts confidence in ENS adoption
  2. Traders debate whether ENS will break out above $32 or fall to $16
  3. Big investors accumulating ENS show institutional interest

Deep Dive

1. @ensdomains: Gemini partnership is a positive sign

"Every Gemini user gets a gemini.eth subname for cross-chain identity/recovery."
– @ensdomains (288K followers · 1.2M impressions · Aug 14, 2025, 04:23 UTC)
View original post
What this means: This is good news for ENS because it shows growing adoption by major platforms. With over 2 million .eth names already registered, adding Gemini’s 13 million users could significantly increase demand for ENS as a key identity system in Web3.

2. @johnmorganFL: $32 price target if support holds

"ENS must hold $21.67 to target $32 liquidity zone. Break below $17.31 invalidates."
– @johnmorganFL (41K followers · 189K impressions · Jul 27, 2025, 05:50 UTC)
View original post
What this means: The technical outlook is mixed. The 30-day moving average at $19.58 is a key support level, but the Relative Strength Index (RSI) at 72 suggests the coin might be overbought and due for a pullback. ENS’s market share is small (0.0165), so price swings are expected.

3. Trend Research: Large whale move signals caution

Trend Research transferred 141,937 ENS tokens (worth $4 million) to Coinbase/FalconX, according to EmberCN.
– @ai_9684xtpa (86K followers · 327K impressions · Aug 11, 2025, 14:10 UTC)
View original post
What this means: This could be a bearish sign since big transfers to exchanges often mean selling is coming. However, the whale still holds 20.3 million ENS tokens, indicating they believe in the project long-term despite taking some profits.

Conclusion

The outlook for ENS is mixed. On one hand, partnerships with Gemini and Coinbase Germany (which listed ENS in July 2025) support its role as a Web3 identity platform. On the other hand, the recent 41.55% drop over 60 days shows the market is cautious and possibly overextended. Keep an eye on the $21.67 support level—if ENS closes above this on a weekly basis, it could spark renewed interest ahead of the planned Layer 2 Namechain migration in Q4.


What is the latest news about ENS?

Ethereum Name Service (ENS) is managing upcoming token releases and changes in the domain market while making progress on privacy features. Here are the key updates:

  1. Significant Token Unlocks (October 12, 2025) – ENS is releasing $19.8 million worth of tokens amid concerns about market liquidity.
  2. Domain Market Challenges (October 5, 2025) – Traditional domain systems are struggling, creating opportunities for ENS in digital identity.
  3. Privacy Enhancements (October 3, 2025) – ENS is joining Ethereum’s privacy roadmap to improve decentralized identity solutions.

In-Depth Look

1. Significant Token Unlocks (October 12, 2025)

Summary:
In October 2025, ENS is part of a large wave of token releases totaling $1.05 billion. On October 5, about 19.82 million ENS tokens (valued at roughly $19.8 million at $17.11 per token) will be unlocked. This comes at a time when the market is worried about too many tokens flooding in and pushing prices down. Additionally, on October 11, the ENS team moved about 141,937 tokens (worth around $4 million) to exchanges like FalconX, which could indicate potential selling pressure.

What this means:
If the market doesn’t absorb these new tokens, ENS’s price could drop further, especially since the market has already fallen 29% in the past month. However, less trading on derivatives (contracts based on ENS tokens) might help reduce price swings. (Cointribune, Binance)

2. Domain Market Challenges (October 5, 2025)

Summary:
The traditional domain market is facing problems like slow sales (taking 3 to 6 months) and high broker fees (15% to 30%). Experts believe that tokenizing domains through systems like ENS can unlock value by allowing instant transactions, shared ownership, and integration with decentralized finance (DeFi).

What this means:
ENS is well-positioned to gain users as traditional domain services fall behind. More people are using .eth names for payments, online profiles, and decentralized organizations (DAOs), which could increase demand and usefulness over time. (Binance)

3. Privacy Enhancements (October 3, 2025)

Summary:
Ethereum’s Privacy Stewards initiative includes ENS as part of its decentralized identity tools, alongside technologies like stealth addresses and zero-knowledge proofs. ENS names will work with privacy tools such as Semaphore, enabling anonymous interactions.

What this means:
These privacy upgrades could broaden ENS’s applications in compliant DeFi projects and governance, supporting Ethereum’s goal of giving users control over their data. (CCN)

Conclusion

ENS faces short-term challenges from token releases but stands to benefit from growing interest in decentralized identity and Web3 technologies. Its role in Ethereum’s privacy plans and its edge over traditional domain systems highlight its strategic importance. The big question is whether demand driven by ENS’s practical uses can balance out the selling pressure expected in the last quarter of the year.


What is expected in the development of ENS?

The Ethereum Name Service (ENS) roadmap is focused on making the platform faster, more customizable, and compatible with other blockchain networks.

  1. ENSv2 Layer 2 Migration (Q4 2025) – Moving core features to a Layer 2 network to lower fees and improve how different blockchains work together.
  2. Subname Integrations (August 2025) – Collaborations with companies like Gemini and Coinbase to offer easy-to-use Web3 identities.
  3. Name Wrapper Upgrade (Ongoing) – Giving users more control over subdomains through special NFTs.

Deep Dive

1. ENSv2 Layer 2 Migration (Q4 2025)

Overview: ENS Labs plans to move key functions such as domain registrations and renewals to a Layer 2 network (likely the Linea-based “Namechain”). This change aims to cut transaction fees by about 90% and speed up processing. The update will happen in stages, including launching new smart contracts, syncing data between Layer 1 and Layer 2, and updating how domain lookups work (ENSv2 technical specs).

What this means:

2. Subname Integrations (August 2025)

Overview: ENS has teamed up with Gemini to give users free subdomains like you.gemini.eth when they use Gemini’s smart wallet. This makes account recovery and cross-chain use easier. Similar partnerships with Coinbase and case studies involving PayPal and Venmo aim to bring mainstream users into the Web3 space (Gemini collaboration).

What this means:

3. Name Wrapper Upgrade (Ongoing)

Overview: The Name Wrapper upgrade lets .eth domain owners package subdomains as ERC-1155 NFTs with customizable settings like expiration dates and transfer permissions. This feature helps businesses manage branded subdomains at scale while keeping control over ownership (ENS documentation).

What this means:

Conclusion

ENS is focusing on making its platform more scalable, building partnerships with major companies, and offering detailed control over subdomains. These efforts aim to solidify ENS as the foundational identity system for Web3. While there are technical and adoption challenges ahead, ENS’s plans align well with Ethereum’s privacy goals and the growing demand for easy-to-read blockchain addresses. The big question remains: Will ENS’s move to Layer 2 finally make it user-friendly enough for the masses, or will traditional domain systems catch up faster?


What updates are there in the ENS code base?

Ethereum Name Service (ENS) released important updates in April 2024 that focus on improving security, testing, and user experience.

  1. Security Fix – Search Autocomplete (April 2024) – Removed the automatic addition of “.ETH” in searches to prevent scams.
  2. Testing Upgrade (April 2024) – Switched from Cypress to Playwright for faster and more reliable testing.
  3. Gasless DNSSEC Support (April 2024) – Allowed importing DNS names without paying transaction fees.

In-Depth Look

1. Security Fix – Search Autocomplete (April 2024)

What happened:
ENS took out a feature that automatically added “.ETH” to search terms. This change was made after realizing the feature could trick users into sending money to scam addresses.

Why it matters:
This update makes ENS safer by reducing the chance of phishing attacks, which builds more trust in the platform. The quick fix shows ENS is serious about security.
(Source)

2. Testing Upgrade (April 2024)

What happened:
ENS switched its testing tools from Cypress to Playwright, which runs tests faster and more reliably.

Why it matters:
While this doesn’t directly affect users, it helps developers work more efficiently and roll out new features faster, supporting ENS’s growth over time.
(Source)

3. Gasless DNSSEC Support (April 2024)

What happened:
Users can now bring in traditional DNS names (like .com domains) into ENS without paying gas fees, thanks to offchain resolution technology.

Why it matters:
This lowers the barrier for people familiar with regular internet domains to start using ENS, helping connect the old internet (Web2) with the new decentralized web (Web3).
(Source)

Conclusion

ENS’s April 2024 updates focus on making the platform more secure, scalable, and easier to use across different networks. The planned phase-out of ensjs-v2 by July 2024 points to a move toward newer, better tools. With ENSv2 moving to Layer 2 solutions, lower fees and better compatibility could speed up the adoption of .eth domain names.