ENS witnessed consistent growth in terms of monthly active users Though its prices surged over the past week, network growth and volume depreciated The monthly active addresses on ENS continued to grow as per analytical platform Messari. This took place despite declining user activity across the board due to the volatility that occurred in the […]
Its network growth declined significantly over the past month, as the number of addresses that transferred ENS for the first time reduced.
ENS witnessed a drop in terms of volume as well, as it plummeted from 94.3 million to 15.2 million in the last month. This suggested a declining interest from traders. However, despite these indicators, large addresses showed faith in ENS, as there was an uptick in the supply held by top addresses. Thus, iIt appeared that, along with helping with price action, whales helped ENS soar in terms of market cap dominance as well, as it grew byHowever, investors looking to buy ENS should be cautious as the token’s volatility increased by 74% over the last 30 days. This implied that ENS had been more susceptible to massive price fluctuations in the past month.
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