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Ethereum Name Service: How ENS reacted to $9.15M whale deposit
The post Ethereum Name Service: How ENS reacted to $9.15M whale deposit appeared on BitcoinEthereumNews.com. A whale recently deposited 282,365 ENS, valued at $9.15M, generating a $4.36M profit. Sustained high inflow volumes may lead to short-term price volatility. A whale recently deposited 282,365 Ethereum Name Service [ENS], valued at $9.15M, into Binance via an intermediary wallet. The tokens were sourced from the ENS DAO: Community Reward Funds wallet, where they were valued at $4.78M. This strategic move generated a $4.36M profit for the whale, underscoring their precise market timing. This transaction also coincided with a 1041% spike in 24-hour inflow volume, signaling heightened market activity. Price action and prediction of ENS The ENS price chart reflects 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. Source: TradingView 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, 1041% increase 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. Source: IntoTheBlock 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,…
The post Ethereum Name Service: How ENS reacted to $9.15M whale deposit appeared on BitcoinEthereumNews.com.
A whale recently deposited 282,365 ENS, valued at $9.15M, generating a $4.36M profit. Sustained high inflow volumes may lead to short-term price volatility. A whale recently deposited 282,365 Ethereum Name Service [ENS], valued at $9.15M, into Binance via an intermediary wallet. The tokens were sourced from the ENS DAO: Community Reward Funds wallet, where they were valued at $4.78M. This strategic move generated a $4.36M profit for the whale, underscoring their precise market timing. This transaction also coincided with a 1041% spike in 24-hour inflow volume, signaling heightened market activity. Price action and prediction of ENS The ENS price chart reflects 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. Source: TradingView 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, 1041% increase 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. Source: IntoTheBlock 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,…
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