After five months of inactivity, the whale address 0x1d8 has resurfaced, depositing 50,000 ENS tokens, valued at $1.66 million, to Binance.
This whale is known for being a long-term holder of Ethereum Name Service (ENS) tokens and appears to be capitalizing on the recent price surge.
Despite this significant deposit, the whale still retains 50,000 ENS tokens worth approximately $1.64 million, maintaining a strong position in the asset. To date, the whale has secured an estimated profit of $2.83 million, reflecting a 63.2% gain from ENS investments.
ENS Whale Activity To Monitor
A closer look at the whale’s activity reveals a history of strategic moves:
– Between August 19 and November 11, 2022, they withdrew 322,739 ENS tokens from OKX and Gate.io at an average cost of $13.86, totaling approximately $4.47 million.
– Since January 4, 2024, they have deposited 272,739 ENS tokens to Binance at an average price of $20.75, amounting to $5.66 million in value.
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
The ENS token has been on a remarkable rally, with its price surging by 46.45% in the last 24 hours. The whale’s latest deposit suggests a potential profit-taking strategy amid the ongoing price spike.
As ENS continues to gain momentum, investors are closely watching the market for signs of further upward movement or a potential cooldown. With whales like 0x1d8 making calculated moves, the token’s price trajectory remains a focal point for market participants.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: thvideo/123RF // Image Effects by Colorcinch
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