ENS opposes market trend amid domain registration deceleration- Here’s ‘how’

ambcrypto.com:

Ethereum Name Service [ENS] registered over 20% gains in the last seven days, drifting away from the trend recorded by most cryptocurrencies. Trading at $14.29 on 3 October, the 98th-ranked cryptocurrency surged as high as $17.63 on 7 October. 

Despite slight decreases, ENS still registered a price increase in the last 24 hours with a 2.86% uptick. According to CoinMarketCap, ENS was trading at $17.46 at press time.

However, it was not all greens in the ENS ecosystem, as its volume had decreased by 17.98% within the same timeframe. While the uptick could have been a surprise, some happenings on-chain may have contributed to the price rise.

Here’s AMBCrypto’s Price Prediction for ENS for 2023-2024

An assessment of the on-chain happening revealed that ENS’s development activity was incredibly increasing. Based on Santiment data, the ENS development activity, which initially decreased to 3.146 on 2 October, had been on a non-stop rise all week.

At the time of this writing, the development activity was 6.86%. As such, it seemed ENS doubled its commitment to the growth of its ecosystem.

Source: Santiment

Interestingly, its recent updates may have proven that the development activity increase was no fluke. In a recent tweet, the ENS team noted that users could now pre-register domains and own them via the Apple iOS wallet. Therefore, this could help onboard more domain registrations and unique users.

To give it a try, or to use your existing code, visit https://t.co/Be8AJmiEic! https://t.co/l54RS3eyCH pic.twitter.com/ueOVWyps40

— ens.eth