$ENS price rose by more than 8% in the short term, possibly influenced by the news that ENS Labs will launch its own L2 network.

gate News: According to CoinDesk, ENS Labs, the company behind Ethereum Name Service, is advancing its plans to launch its own layer 2 network. Katherine Wu, Chief Operating Officer of ENS Labs, said that the new network, named Chain, is expected to go live around the end of next year. It will utilize zero-knowledge rollups, an scaling technology that can accelerate Block transactions and reduce execution costs by compressing the amount of on-chain data.

gate data shows that the 24-hour pump of $ENS price is 8.28%, with the current price of $20.67, market cap of $651.57M, and 24-hour volume of $18.84M.