The Ethereum Name Service ($ENS) token has surged by an astonishing 55%. The actions of a prominent crypto whale have largely driven this price increase. This seasoned crypto investor has returned after five months of inactivity and deposited 50K $ENS tokens worth $1.66 million into Binance.
The $ENS price pumped ~55% today!
4 hours ago, a long-term holder returned after 5 months of inactivity and deposited 50K $ENS ($1.66M) to #Binance to take a $968K profit.
This whale accumulated 322,739 $ENS in 2022 at ~$13.86, has unloaded 272,739 $ENS at ~$20.75 since Jan… pic.twitter.com/jDlnDtgCBL
— Spot On Chain (@spotonchain) November 28, 2024
He has secured a profit of $968K as a strategic move has driven interest in $ENS. As a result, the token’s price has soared and captured the crypto community’s attention. SpotOnChain, a prominent on-chain crypto analytical platform has shared the details of strategic moves of crypto whale, pumping $ENS over the past 24 hours.
The Crypto Whale’s Calculated Strategy Fuels $ENS Hype
This influential crypto whale boasts a remarkable history with $ENS. In 2022, he accumulated 322,739 tokens at an average price of $13.86. Over the past year, the investor strategically sold 272,739 $ENS tokens at an average price of $20.75. This move of crypto whale reaps substantial gains. Following the latest sale, the whale still holds 50K $ENS tokens. He has gained an estimated total profit of $2.9 million which marks a 65% return on investment.
The Momentum of $ENS Token Highlights the Market Dynamics
The whale’s calculated actions have stimulated the rapid price increase of $ENS token. They also highlighted the impact of strategic trading in volatile markets. This event underscores the significant influence of large-scale investors in shaping market trends. The $ENS token’s recovery draws widespread attention. The token’s momentum showcases the interplay between investor activity and price movements in the crypto space.
The $ENS token has experienced a significant surge. Its price has risen to $34.47, marking a 37.69% increase in the last 24 hours. The trading volume has also escalated to $2.34 billion, which indicates heightened market activity and investor interest.
The $ENS token continues to gain traction and market watchers remain attuned to whale activity and broader market developments. This indicates that the crypto investors are ready to seize opportunities in the ever-dynamic cryptocurrency landscape.