ENS Whale Resurfaces After Five Months of Inactivity, Deposits $1.66M of ENS Tokens to Binance

After five months of inactivity, the whale address 0x1d8 has resurfaced, depositing 50,000 ENS tokens, valued at $1.66 million, to Binance.

A whale known for their long-term holdings of Ethereum Name Service (ENS) tokens has resurfaced after five months of inactivity, making a substantial deposit of 50,000 ENS, valued at $1.66 million, to Binance.

This whale, known as 0x1d8, has been accumulating and selling ENS tokens throughout 2022 and 2024. Notably, they withdrew 322,739 ENS tokens from OKX and Gate.io at an average cost of $13.86, totaling around $4.47 million, between August 19 and November 11, 2022.

Out of these tokens, they have deposited 272,739 ENS tokens to Binance at an average price of $20.75, amounting to $5.66 million in value, since January 4, 2024. This latest deposit suggests they still hold 50,000 ENS, valued at approximately $1.64 million, with an estimated profit of $2.83 million from ENS investments to date, indicating a 63.2% gain.

The ENS token has seen a significant price increase, with a 46.45% surge in the last 24 hours. This price movement appears to be impacting the whale's strategy, as they are making sizable deposits in line with the rising ENS token price.

As ENS continues to gain momentum, investors are keeping an eye on 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.