Ethereum Name Service (ENS) Price Prediction

Deep Dive

1. Ethereum Scaling Momentum (Bullish Impact)

Overview:
Ethereum’s Fusaka upgrade (live since 2 Dec 2025) increases blob capacity 8x via EIP-7594, slashing L2 transaction costs. ENS relies on Ethereum’s ecosystem health – cheaper L2s could accelerate ENS adoption in wallets/dapps. Nick Johnson (ENS founder) endorsed the upgrade as critical for “Ethereum’s maturity.”

What this means:
Lower gas fees on networks like Optimism/Base make ENS name registrations and renewals more accessible. Historical example: ENS registrations spiked 37% after March 2024’s Dencun upgrade reduced L1 gas by ~55%. Monitor ENS’s 7d registration count post-Fusaka.

2. Web3 Naming Competition (Bearish Impact)

Overview:
Doma Protocol’s mainnet (25 Nov 2025) enables fractional trading of .com/.ai domains as ERC-20 tokens, interoperable with ENS. Partners like GoDaddy and Unstoppable Domains now offer similar services, challenging ENS’s first-mover advantage.

What this means:
ENS’s 2.1M .eth domains (as of Oct 2025) face saturation risks if users prefer tokenizing existing Web2 domains. However, ENS’s DAO governance and Ethereum-native design retain hardcore Web3 users. Watch Doma’s 30d trading volume vs. ENS’s renewal rates.

3. Security & Developer Sentiment (Mixed Impact)

Overview:
The Shai-Hulud npm attack (24 Nov 2025) infected 40+ ENS libraries, eroding developer confidence. ENS Labs quickly patched vulnerabilities, but GitHub repos with stolen credentials still surface.

What this means:
Short-term FUD could suppress prices – ENS dropped 11% in the week post-attack. However, the team’s rapid response (clearing node_modules, credential resets) may restore trust. Track ENS GitHub commits and audit partner announcements.

Conclusion

ENS’s price trajectory hinges on Ethereum’s scalability easing user onboarding versus rivals commoditizing naming services. The protocol’s response to November’s security crisis demonstrates resilience, but Doma’s TradFi partnerships pose existential questions.

Will ENSv2’s L2 migration (testnet Q2 2026) reclaim its moat before competitors eat its lunch?