ENS Token Unlock Event Approaches as an Early Investor Transfers $2.47M Worth of ENS to Binance

Suspected $ENS early investor moved 154k ENS tokens to #Binance three months after their last significant transfer.

A crypto wallet linked to an early investor in the Ethereum Name Service (ENS) recently transferred 154,000 ENS tokens, valued at approximately $2.47 million, to Binance. This marks the first significant transfer from the wallet in three months.

According to crypto analytics firm IntoTheBlock, this wallet address, known as 0x9684…9684xtpa, has received a total of 3.86 million ENS tokens directly from the project’s distribution since May 2022. Throughout 2024, the wallet has transferred $6.42 million worth of ENS tokens to various exchanges, while still holding a sizable 2.02 million ENS, currently valued at around $32.36 million.

This development comes ahead of several large token unlocks, including $15 million worth of IMX and ENS tokens set to be released on November 5 and November 7, respectively. Following closely behind, on November 8, 27.8 million EIGEN tokens (valued at $68 million) and 1.7 billion FLR tokens ($21 million) will unlock. The week concludes with a notable event on November 11, when Aptos will release 2.2% of its circulating supply, which currently amounts to about $93 million in tokens being unlocked.

This ENS transaction, alongside the upcoming token unlocks, has sparked interest within the crypto community as traders prepare for potential shifts in the market in the days ahead. With such a high volume of tokens becoming available, investors are keeping a close watch on price trends and market responses to these developments.

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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