Coinbase Integration Fuels Ethereum Name Service (ENS) Price Surge Toward $40

Ethereum Name Service (ENS) has experienced a significant bullish breakout, with its price eyeing the $40 mark following a prolonged consolidation phase. This momentum-driven rally is underpinned by growing bullish sentiment and technical patterns indicating the early stages of a broader trend expansion. A key catalyst behind this surge is Coinbase's recent integration of ENS for its Web3 username service, which has reignited interest in the cryptocurrency. As of July 17, 2025, the market is closely watching whether ENS can sustain this upward trajectory amid heightened investor Optimism and fundamental developments.

Ethereum Name Service (ENS) Price Eyes $40 After Bullish Breakout: Can the Momentum Hold?

Ethereum Name Service (ENS) has surged sharply, breaking out of a prolonged consolidation phase into a momentum-driven rally. The shift reflects growing bullish sentiment and positioning, with technical patterns suggesting early stages of a broader trend expansion. Fundamental catalysts, including Coinbase's integration of ENS for its Web3 username service, are driving renewed interest.

Coinbase's adoption of ENS as the foundation for its '.cb.id' usernames marks a significant validation of the protocol. This MOVE not only enhances ENS's visibility but also accelerates institutional and retail adoption. Increased domain registrations and renewals further underscore rising utility, supporting the case for sustained price momentum.

Ethereum Name Service Price Soars 38% in a Week, Is $38 the Next Target?

Ethereum Name Service (ENS) has surged 38.32% over the past week, with a 19.45% rally in the last 24 hours, driven by strong fundamentals and a 157% spike in derivatives volume. Coinbase Germany's direct ENS listing has further fueled bullish momentum, pushing the token to levels unseen since February.

Futures open interest has climbed to $120 million, mirroring early 2024 levels, signaling fresh capital inflows into Leveraged positions. The breakout above the $24–$25 resistance zone, supported by rising volume and a close above the 200-day EMA at $20.85, suggests sustained speculative demand rather than short-term hype.

Market watchers now debate whether ENS will target $38 or face a pullback. The alignment of price action, open interest, and exchange activity underscores the token's growing institutional appeal.

Best Coin to Buy Today: As Trump Rescues U.S. Crypto Legislation, DexBoss Gains Spotlight While XRP Watches Regulatory Winds

Former President Donald Trump intervened to revive stalled cryptocurrency legislation in the House of Representatives on July 15, marking a pivotal moment for the U.S. digital asset industry. After an initial procedural vote threatened to derail key crypto bills, Trump brokered a late-night agreement with 11 of 12 crucial Republican lawmakers during an Oval Office meeting.

The legislative package, championed by House Republicans as a framework for crypto legitimacy, includes provisions for stablecoin regulation, asset classification standards, and a prohibition on central bank digital currencies. Market reactions were immediate—crypto-related stocks like Coinbase and Circle initially dipped following the early vote failure, but recovered after Trump's intervention.

While the Senate remains uncommitted, the House's progress signals growing political recognition of crypto's economic significance. The regulatory clarity could benefit established tokens like XRP while elevating emerging projects such as DexBoss in the current market cycle.

California Forms Tech Task Force With Ripple, Coinbase Participation

California Governor Gavin Newsom has launched the "California Breakthrough Project," a state-backed initiative to modernize government operations through collaboration with leading tech and crypto firms. The task force held its first closed-door meeting at Ripple's San Francisco headquarters in early June, with participation from Coinbase, MoonPay, and other industry players.

The initiative aims to streamline public services such as licensing, workforce programs, and benefits delivery by leveraging blockchain infrastructure. Governor Newsom emphasized the state's commitment to embracing technological progress, calling the project a convergence of "the best and the brightest" to improve government efficiency.

This development signals growing institutional recognition of blockchain's potential as core infrastructure. The involvement of major cryptocurrency firms like Ripple (XRP) and Coinbase underscores the sector's increasing influence in mainstream financial and governmental applications.

DeFi in Q2 Review: Stablecoins Dominate Amid Market Concentration

The second quarter of 2024 saw a flurry of activity in the stablecoin sector, with major players like JPMorgan, Coinbase, and Anchorage Digital making significant moves. JPMorgan launched its USD Deposit Token on Base, while Coinbase rolled out a stablecoin payment stack following its Shopify partnership. Anchorage Digital acquired Mountain Protocol, the issuer of USDM, and Ubyx secured $10 million for stablecoin clearing infrastructure. Bitcoin-based Plasma's $1 billion deposit cap was filled in just 30 minutes, underscoring the intense demand.

Despite the hype, the stablecoin market remains highly concentrated. Tether commands $158 billion of the roughly $250 billion circulating supply, dwarfing Circle's USDC at $62 billion. USDC itself is 11 times larger than the third-largest stablecoin, USDe, which has a market cap of $5.3 billion. Yield-bearing stablecoins and tokenized treasury products like USDe, sUSDS, BUIDL, and M0 are emerging as new competitors, but distribution and utility remain the decisive factors.

The battle for dominance won't be won by novel mechanisms or the highest yields, but by seamless integration and widespread acceptance. Stablecoins have cemented their role as 'dollars on a blockchain,' attracting massive capital inflows. The question now is how the market will evolve beyond the current oligopoly.