ENS Token Surges 55% as Prominent Crypto Whale Returns After 5 Months of Inactivity

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.

A prominent crypto whale has returned to the scene after five months of inactivity, depositing 50K $ENS tokens into Binance and sparking a 55% surge in the token's price.

Here's a breakdown of the whale's activity and its impact on $ENS:

1. Long-term holder activity: A crypto whale, known for holding ENS tokens for over a year, has returned after a five-month hiatus. This whale deposited 50K $ENS tokens, valued at $1.66 million, into Binance.

2. Strategic accumulation and sell-off: The whale had previously accumulated 322,739 $ENS tokens in 2022 at an average price of $13.86. Throughout 222, the investor sold 272,739 $ENS tokens in multiple tranches at an average price of $20.75, reaping substantial gains.

3. Surging profits: This latest move saw the whale secure a profit of $968K, as the strategic maneuver drove interest in $ENS, leading to a surge in its price and capturing the attention of the crypto community.

4. On-chain analytics platform SpotOnChain shared the details of the crypto whale's strategic moves in pumping $ENS over the past 24 hours.

5. Impact on $ENS price and market attention: The whale's calculated actions fueled the rapid price increase of $ENS and highlighted the impact of strategic trading in volatile markets. This event also underscores the significant influence of large-scale investors in shaping market trends.

6. $ENS recovery draws attention: The recovery of the $ENS token has drawn widespread attention, and its momentum showcases the interplay between investor activity and price movements in the crypto space.

7. $ENS price and market performance: The $ENS token has experienced a significant surge, with its price rising to $34.47, a 37.69% increase in the last 24 hours. The trading volume has also escalated to $2.34 billion, indicating heightened market activity and investor interest.

8. Whale activity and broader market developments: The $ENS token continues to gain traction and market watchers remain attuned to whale activity and broader market developments, especially in the context of large-scale investments and their potential to influence market trends.

9. Crypto investors are ready to seize opportunities: This event highlights the close attention paid by crypto investors to market dynamics and their readiness to identify and capitalize on opportunities in the ever-dynamic cryptocurrency landscape.