- ENS has seen steady growth in monthly active users
- Although prices have increased in the past week, network growth and volume have decreased
Monthly active titles on agreed Keep growing according to Messari analytics platform. This happened despite user activity decreasing across the board due to the fluctuations that occur in the Web3 space. Growth could eventually play a major role in influencing the future of the network.
The data shows that ensdomains Monthly active addresses remain strong even though the broader Web3 market has suffered significant drops in users in recent quarters.
The current level of active addresses is still 10 times higher than it was at the start of 2021 and 2.5 times higher than it was a year ago. pic.twitter.com/Mx4Mt4ltlO
– Messari (MessariCrypto) December 3, 2022
Read ENS price prediction 2022-2023
ENS, against all odds
The rise may be the reason for the higher ENS prices as well 6.54% in the past week. The number of active addresses on the platform was 10 times higher than the activity recorded last year, as shown in the image below.
Along with the growth in activity is the network’s decentralized web content also grew. In addition to, DWEB’s growth has been steady over the past few months. In addition, the protocol generated $1.7 million in protocol revenue and was added 22 kg New accounts in november. But despite this, the Avatar Chronicles fell through.
ENS Statistics for November 2022
– 70,000 new .eth registrations (2.79 million names total)
– $1.7 million in protocol proceeds (all of which will go to @employee)
– 22,000 new ethics accounts with at least one ENS name (612,000 total)
Set 5445 token records (total 62k)
Mapped 1,660 DWeb content entries (16,715 total) pic.twitter.com/LRK2iqPQjr
– ens.eth (ensdomains) December 1, 2022
It’s not all roses and bright sunshine for the ENS
ENS has had a hard time this crypto winter with on-chain metrics. Its network growth has slowed dramatically in the past month, as the number of addresses sending ENS has dropped for the first time.
ENS has also seen a decrease in volume, dropping from 94.3 million to 15.2 million in the last month. This indicates a decrease in the interest of traders. However, despite these indications, the big headlines showed confidence in the ENS, as there was an oversupply of headlines. someIncreased interest from whales could push ENS rates up even more.
Whales, along with the help of price action, seem to have helped ENS rise in terms of capital market dominance, growing by 3.02%. At the time of writing, ENS accounts for 0.04% of the total crypto market.
However, investors looking to buy ENS should be careful as the token’s volatility has increased by 74% in the last 30 days. This indicates that ENS has been more vulnerable to massive price fluctuations in the past month.