ENS Price Prediction: Whale Effect and Market Activity Surge After 282K ENS Tokens Deposit on Binance

A whale recently deposited 282,365 Ethereum Name Service [ENS], valued at $9.15M, into Binance via an intermediary wallet.

A whale recently transferred 282,365 Ethereum Name Service (ENS) tokens, valued at $9.15 million, into Binance through an intermediary wallet. The tokens, sourced from the ENS DAO: Community Reward Funds wallet, were valued at $4.78 million at the time of the transaction.

This strategic move generated a $4.36 million profit for the whale, highlighting their precise market timing. The transaction also coincided with a 1041% spike in 24-hour on-chain inflow volume, indicating heightened market activity.

Price Action and Prediction of ENS

The ENS price chart shows significant volatility following the whale’s transaction. Currently trading at $34.41, the token shows a recovery from its recent low of $28.00.

A notable price surge occurred after the whale’s deposit, with heightened buying activity on Binance potentially offsetting selling pressure.

The Relative Strength Index (RSI) stood at 50.86, suggesting a neutral trend with room for movement in either direction. If ENS maintains support above $32.00, it may retest resistance near $38.00.

However, increased sell-offs could push prices toward the $30.00 level in the short term.

The Whale Effect Shaping Trends

On-chain Inflow Volume for ENS saw a dramatic increase of 1041% in the past 24 hours, reflecting heightened market activity.

The surge aligns with the whale’s deposit of 282,365 ENS into Binance, as shown in the aggregated exchange data.

This spike indicates significant trading interest, often tied to a mix of profit-taking and speculative buying.

Sustained high inflow volumes may lead to short-term price volatility. However, if inflows stabilize, ENS could consolidate in its current price range.

Traders should monitor inflow trends for signs of increasing selling pressure or renewed accumulation.

Holder Confidence Increases

The total number of ENS addresses with balances currently stands at 58.39K, maintaining steady growth.

Over the past thirty days, the average was 57.31K, with a high of 57.67K and a low of 56.85K. This consistency suggests strong holder confidence despite market fluctuations.

Whale activity and inflow spikes did not significantly disrupt the total balance trend, indicating stable broader market participation.

If this trend continues, ENS could see sustained network growth, supporting long-term price stability.

Traders should monitor these metrics for shifts in market sentiment.