Coinbase’s Integration of Ethereum Name Service (ENS) Fuels Bullish Rally Toward $40

Ethereum Name Service (ENS) has experienced a significant price surge, breaking out of a prolonged consolidation phase and entering a momentum-driven rally. This upward movement reflects increasing market confidence and hints at the early stages of a broader trend expansion. A key catalyst behind this rally is Coinbase's integration of ENS for its Web3 username service, which has bolstered investor sentiment and driven demand for the cryptocurrency. As of July 17, 2025, ENS is eyeing the $40 price level, with traders closely watching whether the bullish momentum can sustain. The integration with Coinbase not only enhances ENS's utility but also positions it as a critical player in the Web3 ecosystem. This development underscores the growing adoption of blockchain-based naming services and their potential to revolutionize digital identity management. With strong fundamentals and increasing institutional interest, ENS's rally may just be getting started.

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

Ethereum Name Service (ENS) has surged sharply, transitioning from a prolonged consolidation phase into a momentum-driven rally. The shift reflects growing market confidence and suggests early stages of a broader trend expansion. Fundamental catalysts, including Coinbase's integration of ENS for its Web3 username service, are driving this upward trajectory.

Coinbase's adoption of ENS as the backbone for ".cb.id" usernames marks a significant validation of the protocol. This MOVE enhances ENS's visibility and utility, attracting both retail and institutional users. Rising domain registrations and renewals further underscore real-world demand, distinguishing this rally from speculative inflows.

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 alone. The momentum follows Coinbase Germany's direct listing of ENS and a 157% spike in derivatives volume. Trading at levels unseen since February, ENS now faces a critical juncture—breakout or pullback.

Futures Open Interest has climbed to $120 million, mirroring early 2024 levels, signaling robust capital inflows into Leveraged positions. The alignment of price and open interest trends suggests sustained speculative demand rather than fleeting hype.

Technicals reveal a decisive breakout from the $24–$25 resistance zone, supported by rising volume and a close above the 200-day EMA at $20.85. The 23.6% Fibonacci retracement level at $22.49 has been breached, while widening Bollinger Bands point to increasing volatility.

Ark Invest Trims Coinbase and Bitcoin ETF Holdings Amid Record Highs

Ark Invest, led by Cathie Wood, reduced exposure to two of its top-performing crypto assets this week. The firm sold $13.3 million worth of Coinbase (COIN) shares from its ARKW ETF and $8.7 million in shares of its own Bitcoin ETF (ARKB). These moves followed Coinbase hitting an all-time high of $394.01 and ARKB benefiting from nine consecutive days of inflows.

The sales reflect Ark's disciplined rebalancing strategy, which triggers when any position approaches 10% of a portfolio. Coinbase remains ARKW's second-largest holding at 7.9%, just behind Robinhood. Meanwhile, Ark's bitcoin ETF has reached $5 billion in assets under management despite Tuesday's $6.2 million outflows.

Spot Bitcoin ETFs overall saw $403.1 million in inflows the same day, with BlackRock's IBIT capturing the lion's share. Ark's profit-taking comes as institutional interest in crypto grows, with Cathie Wood recently praising Ethereum's zkEVM development roadmap.

Stablecoins Dominate Q2 Crypto Activity Amid Market Concentration Concerns

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

Despite this activity, the stablecoin market remains highly concentrated. Tether commands $158 billion of the $250 billion circulating supply, dwarfing Circle's USDC at $62 billion. USDC itself is 11 times larger than the third-largest stablecoin, USDe. Yield-bearing alternatives like USDe, sUSDS, BUIDL, and M0 are emerging, but distribution and utility continue to dictate market leadership.

The race for stablecoin supremacy won't be won by novel mechanisms or yields alone. The ultimate victor will be the token that achieves seamless integration, trust, and universal acceptance. As blockchain-based dollars cement their position in crypto, the focus shifts from adoption to utility—how these digital assets will be used in everyday transactions and global finance.