The Ethereum Name Service (ENS) experienced a decrease in domain registrations in the second quarter, following a peak in April. Despite lower gas fees on the Ethereum Network, registrations dropped by 30% in June. Interest in .eth domain names waned due to market consolidation, leading to reduced spending. Primary ENS name registrations also hit a low in June, with a 39% decrease month-over-month. Derivatives open interest for ENS reached an all-time high in July but has since dropped by 48%. The altcoin's price fell by 25% in the last week, with a bearish sentiment indicated by a low Relative Strength Index (RSI). If buying activity increases, ENS price could rise to $25.68. This analysis serves for informational purposes only and does not constitute financial advice. Read more AI-generated news on: https://app.chaingpt.org/news