The Ethereum Name Service (ENS) token attracted attention today with an increase of approximately 55 percent.
Following this rise, a whale that had been inactive for a long time transferred 50,000 ENS ($1.66 million) to Binance after a break of about 5 months, making a profit of $968 thousand.
Whale's ENS operations
This whale's ENS transactions are noteworthy. The investor, who accumulated a total of 322,739 ENS at a price of approximately $ 13.86 in 2022, has sold 272,739 ENS at an average price of $ 20.75 since January 2024. With the last transaction made today, the investor's total profit reached $ 2.9 million and the return he achieved was calculated as approximately 65 percent.
This sudden increase in the ENS price, combined with the activity of large investors, attracted the attention of market participants. While ENS offers significant profit opportunities for long-term investors, whales selling in large quantities can cause short-term fluctuations in prices.
Meanwhile, the ENS price started to decline again after this sudden surge. According to TradingView data, ENS has retreated to the $33.8 level.
Stay tuned.