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What could affect the price of ENS?

Ethereum Name Service (ENS) is navigating growth in Web3 identity despite current market challenges.

  1. ENSv2 & Layer 2 Migration – Improved scalability could encourage more users (positive outlook).
  2. Token Unlocks & Supply Changes – Nearly 20 million ENS tokens unlocking in October may increase selling pressure (negative outlook).
  3. Ethereum Ecosystem Connection – Growth in Ethereum directly affects ENS demand, with mixed implications.

Deep Dive

1. ENSv2 and Namechain Layer 2 Launch (Positive Outlook)

Overview:
ENSv2 is a major upgrade that moves key functions to a dedicated Ethereum Layer 2 network called “Namechain.” This change will lower transaction fees and allow ENS to work across different blockchains. The ENS team plans to launch this on test networks by early 2026. Some platforms, like Gemini, are already using ENS for wallet identities, showing early adoption.

What this means:
Lower fees could make it easier and cheaper for people to register .eth domain names—there were 437,000 new users in September 2024 alone. This could also attract businesses, increasing the use of ENS and demand for its tokens. In the past, ENS’s price jumped 38% after Coinbase listed it in Germany, suggesting that infrastructure improvements like ENSv2 could boost interest and value.

2. Token Unlocks and Large Holder Activity (Negative Outlook)

Overview:
On October 5, 2025, about 19.82 million ENS tokens (worth roughly $301 million) will become available for trading. Recent large transfers of ENS tokens to exchanges like Coinbase and FalconX hint that some big holders might sell. This comes after a 47% price drop since August.

What this means:
When many tokens enter the market without matching demand, prices often fall. ENS has relatively low liquidity, meaning even moderate selling can cause big price swings. For example, after a previous token unlock in June, the price dropped 8%.

3. Ethereum’s Market Position (Mixed Outlook)

Overview:
ENS’s usefulness depends heavily on Ethereum, which makes up about 59% of the total cryptocurrency market. However, Ethereum’s market share has dropped by nearly 13% since June. On the other hand, more people are staking Ethereum (locking it up to support the network), which could increase demand for ENS names.

What this means:
ENS’s success is closely tied to Ethereum’s performance. If Ethereum’s price rises—possibly due to new staking-related products—ENS could benefit. But if Bitcoin or other cryptocurrencies dominate the market for longer, ENS might struggle to recover quickly.

Conclusion

ENS faces short-term challenges from a large number of tokens becoming available, which could put downward pressure on its price. However, the long-term outlook remains positive as Web3 identity services grow. Keep an eye on how the ENSv2 upgrade affects daily registrations and how the ENS community manages its funds after the token unlock. Will Ethereum’s Layer 2 growth help ENS overcome market challenges, or will the token unlock lead to continued price weakness?


What are people saying about ENS?

Talk around Ethereum Name Service (ENS) swings between hopes for a price breakout and fears of a crash, with real-world use helping to drive interest. Here’s the key takeaway:

  1. Traders are debating price levels between $15 and $38 amid mixed technical signals.
  2. A new partnership with Gemini adds value by giving users .eth subnames for their wallets.
  3. A $4 million transfer of ENS tokens to exchanges has raised concerns about potential selling.
  4. The upcoming Coinbase Germany listing in July has kept optimism alive.

Deep Dive

1. @ensdomains: Gemini Partnership Boosts Web3 Identity

"Every Gemini user gets a gemini.eth subname for cross-chain transactions and wallet recovery."
– @ensdomains (312K followers · 1.2M impressions · Aug 14, 2025)
View original post
What this means: This is a positive sign for ENS adoption. Institutional partnerships like this one with Gemini help prove that ENS can simplify crypto transactions and wallet recovery—both important for bringing more people into the crypto world.

2. @CoinMarketCap: Mixed Technical Outlook: $32 Target vs. $14.80 Risk

"If $ENS holds $21.67, $38 is possible; break below $17.31 risks 30% drop."
– CoinMarketCap community post (Aug 20, 2025)
View analysis
What this means: Traders are divided. Support at $21.67 could lead to a rally toward $38, but if the price falls below $17.31, a significant drop of about 30% might happen. Some technical indicators show weakening momentum, which adds to the uncertainty.

3. @EmberCN: Large $4M ENS Token Transfer to Exchanges

"141,937 ENS transferred to FalconX/Coinbase – signals profit-taking or OTC deals."
– @EmberCN (89K followers · 287K impressions · Aug 11, 2025)
View report
What this means: This move is neutral to slightly bearish in the short term. Big token transfers to exchanges often mean selling pressure could follow. However, since some tokens are held in multi-signature wallets, the distribution might be controlled rather than a sudden sell-off.

4. @AMBCrypto: Coinbase Germany Listing Sparks July Rally

"ENS surged 19% post-listing, with derivatives volume up 157%."
– AMBCrypto (July 16, 2025)
Read article
What this means: The Coinbase Germany listing was a strong positive catalyst, boosting ENS price and trading activity. However, since then, the price has dropped about 47% from its July highs, showing that momentum is weakening.

Conclusion

The outlook for ENS is mixed. While partnerships like the one with Gemini highlight its growing role in Web3 identity, traders are watching key price levels closely: $17.31 as a downside risk and $21.67 as a potential entry point for recovery. Also, keep an eye on upcoming token unlocks in October totaling over $1 billion across various cryptocurrencies, including ENS, which could impact overall market liquidity.


What is the latest news about ENS?

ENS is navigating market ups and downs with notable price changes and growth in its ecosystem. Here’s the latest update:

  1. Price Jump & Market Outlook (October 16, 2025) – ENS climbed about 10%, supported by positive technical signals and new integrations.
  2. Over $1 Billion in Token Unlocks (October 6, 2025) – More than $1 billion worth of ENS tokens were unlocked, increasing the chance of price swings.
  3. Gemini Wallet Integration (August 14, 2025) – ENS now powers easy-to-read names for Gemini’s smart wallets, making them simpler to use.

In-Depth Look

1. Price Jump & Market Outlook (October 16, 2025)

Summary
On October 16, ENS’s price rose roughly 10% to between $26 and $27, outperforming many other cryptocurrencies. Key technical indicators like the 20-day exponential moving average (20-EMA) at $24.80 and the Relative Strength Index (RSI-14) at 60 suggest strong buying momentum. Daily active users stayed steady at around 2,500 to 3,000. Interest on social media also increased, with searches for “ENS token” up 28% over two weeks.

What this means
This price increase reflects growing use of ENS in digital wallets, decentralized finance (DeFi), and non-fungible tokens (NFTs). However, short-term price swings are still expected, with an average true range (ATR-14) of about ±8%. Traders are watching $22 USDT as a key support level to hold. (Gate.io)

2. Over $1 Billion in Token Unlocks (October 6, 2025)

Summary
In early October, about 19.82 million ENS tokens were unlocked, worth roughly $300 million at that time. This was part of a larger wave of crypto token unlocks exceeding $1 billion. More tokens entering the market can increase supply and potentially put downward pressure on prices if demand doesn’t keep up.

What this means
These unlocks test the market’s ability to absorb new tokens without big price drops. However, ENS’s steady growth in registrations—437,000 new domains in September 2024—may help balance selling pressure. It’s important to watch token flows on exchanges to understand how holders are reacting. (Cointribune)

3. Gemini Wallet Integration (August 14, 2025)

Summary
Gemini, a major cryptocurrency exchange, integrated ENS to give users personalized subnames like you.gemini.eth. This makes wallet addresses easier to remember and helps with wallet recovery and cross-platform use. ENS acts as a digital identity layer for Web3 applications.

What this means
This partnership boosts ENS’s usefulness in mainstream finance. The long-term impact will depend on how many users adopt these subnames and actively use them. (ENS Domains)

Conclusion

ENS is balancing positive adoption trends, like partnerships and domain registrations, with risks from large token unlocks and overall market sentiment. Upcoming protocol upgrades such as ENSv2 and migration to Layer 2 solutions could help reduce volatility. Keep an eye on the $22 support level and token flows on exchanges to gauge future movement.


What is expected in the development of ENS?

Ethereum Name Service’s (ENS) roadmap is centered on improving scalability, ease of use, and expanding its ecosystem.

  1. ENSv2 Layer 2 Migration (Q4 2025) – Upgrading the core system to a Layer 2 network to lower transaction fees.
  2. Namechain Launch (October 2025) – Creating a dedicated blockchain specifically for ENS.
  3. Email-as-ENS Integration (Ongoing) – Allowing users to link their email addresses to ENS names.

Deep Dive

1. ENSv2 Layer 2 Migration (Q4 2025)

Overview
ENS Labs plans to move key functions of ENS to a Layer 2 network, possibly called "Namechain." This move aims to cut transaction costs (gas fees) by up to 90% and make the system more scalable. Features include better control over subdomains and the ability to work across different blockchains using CCIP-Read Gateways (ENSv2 Blog).

What this means
Lower fees could encourage many more people to use .eth names, which is positive for ENS. However, choosing the right Layer 2 partner and overcoming technical challenges could delay progress.

2. Namechain Launch (October 2025)

Overview
A recent community update introduced "Namechain," a new blockchain built with Linea’s zero-knowledge (ZK) technology. This blockchain is designed to handle ENS operations separately from Ethereum’s main network, reducing congestion while keeping security strong through zero-knowledge proofs (Tweet).

What this means
This specialized blockchain could make ENS more reliable and efficient as a Web3 identity system. However, moving to a new blockchain is complex and carries some risks.

3. Email-as-ENS Integration (Ongoing)

Overview
ENS has partnered with zkEmail to let users claim ENS names that match their email addresses, like alice@gmail.eth. This helps connect traditional internet identities (Web2) with blockchain-based identities (Web3) (July 2025 Recap).

What this means
This integration is likely to attract more users, as seen with over 750,000 .base.eth names registered through Coinbase’s similar integration. The main concern is protecting user privacy when linking emails to ENS names.

Conclusion

ENS is focusing on making its system faster and cheaper (Layer 2 migration), more independent (Namechain), and easier to use by bridging with existing internet identities (email integration). These upgrades could make ENS the go-to naming system in crypto, but success depends on smooth implementation and strong partnerships.

Will ENS’s Layer 2 upgrade follow Ethereum’s path to successful scaling, or will it face unexpected challenges?


What updates are there in the ENS code base?

Ethereum Name Service (ENS) is improving decentralized digital identities by moving to a Layer 2 network and adding new features for subnames.

  1. ENSv2 & Namechain Layer 2 Launch (June 2025) – Big upgrade to cut transaction fees by moving to a Layer 2 solution.
  2. ENSv2 Hub Launch (July 2025) – A central platform for developers and users to follow updates and access tools.
  3. Subname Recovery with Gemini (August 2025) – Partnership with Gemini lets users recover wallets using ENS subnames.

In-Depth Look

1. ENSv2 & Namechain Layer 2 Launch (June 2025)

What’s happening: ENSv2 moves its main functions to Namechain, a Layer 2 network built on Ethereum. This change aims to reduce transaction fees by about 90% and make the system faster and more scalable.

The upgrade breaks down ENS into modular smart contracts, separating the registration of names from how they are resolved (or looked up). Namechain uses technology from Optimism’s OP Stack, which speeds up transactions and works well with other Ethereum-compatible blockchains. Developers can now create ENS resolvers with custom features, like routing based on location.

Why it matters: Lower fees and faster transactions make it easier for everyday users to adopt .eth names for things like payments or voting in decentralized organizations. This could lead to wider use of ENS. (Source)

2. ENSv2 Hub Launch (July 2025)

What’s happening: The ENSv2 Hub is a new online resource offering guides, migration tools, and live data about the Layer 2 transition.

It features a gas fee calculator that compares costs between Ethereum’s main network and Namechain, plus a dashboard showing how many domains have moved (over 750,000 .base.eth names registered by July 2025). Developers can also find software development kits (SDKs) to help integrate ENS across different blockchains.

Why it matters: This hub makes it easier for both users and developers to switch to ENSv2, which could speed up growth as popular apps like Rainbow Wallet and Coinbase start using Namechain. (Source)

3. Subname Recovery with Gemini (August 2025)

What’s happening: ENS teamed up with Gemini, a well-known crypto exchange, to let users recover lost wallets through ENS subnames (for example, you.gemini.eth).

This feature uses secure smart contracts to link subnames to wallet addresses. If a user loses access to their wallet, they can verify ownership of their ENS subname via Gemini’s platform to recover their funds.

Why it matters: Losing access to wallets is a major problem for crypto users. This new recovery option makes ENS more user-friendly and practical for everyday use, though it introduces some dependence on a centralized service like Gemini. (Source)

Conclusion

ENS is focusing on making its system more scalable and easier to use by adopting Layer 2 technology and adding wallet recovery options. These improvements strengthen ENS’s role as a key identity system for Web3. However, as ENS partners with centralized companies like Gemini, it will need to balance convenience with maintaining its decentralized principles.


Why did the price of ENS fall?

Ethereum Name Service (ENS) dropped 6.16% in the last 24 hours, underperforming the overall crypto market, which fell 4.06%. This decline is linked to negative technical signals, large investor (whale) concerns, and a shift in focus toward Bitcoin.

  1. Technical Breakdown – Important support levels were broken amid oversold conditions
  2. Whale Activity Fallout – Market reacts to a major whale’s exposure connected to ENS
  3. Macro Headwinds – Bitcoin’s rising dominance pulls money away from altcoins

Deep Dive

1. Technical Breakdown (Bearish Impact)

Overview:
ENS fell below a key support level at $15.79, which is a common retracement point used by traders (called the 50% Fibonacci level). Now, it’s testing the next support at $14.14 (the 61.8% Fibonacci level). The 30-day and 200-day moving averages, at $18.85 and $21.45 respectively, are acting as resistance above the current price.

What this means:

2. Whale Activity Fallout (Bearish Impact)

Overview: Blockchain analyst Eye connected former BitForex CEO Garrett Jin to a large Hyperliquid whale wallet. This wallet used ENS data (specifically the “ereignis.eth” address) to place a $735 million short bet against Bitcoin just before the October 10 market crash (source).

What this means:

3. Macro Headwinds (Bearish Impact)

Overview: Bitcoin’s market dominance rose to 59.19%, up 0.22% in 24 hours, showing that investors are moving money from altcoins (alternative cryptocurrencies) to Bitcoin. The Altcoin Season Index dropped 60% over the past month to 25, signaling a “Bitcoin Season.”

What this means:

Conclusion

ENS’s recent price drop is due to a mix of technical weaknesses, negative sentiment from whale activity, and a broader market shift toward Bitcoin. While the oversold condition might lead to a short-term bounce, holding the $14.14 support level is crucial for stabilizing investor confidence.

Key watch: Will ENS hold above $14.14, or will Bitcoin’s rising dominance cause a liquidity squeeze in mid-sized altcoins? Keep an eye on Bitcoin’s price movements and ENS’s 24-hour trading volume for clues on the next direction.