ENS Core Contributor Deposits Another $2.28 Million ENS on Binance

ENS Core Contributor Deposits Another $2.28 Million ENS on Binance

As per on-chain data shared by Etherscan, an ENS core contributor, known as "ensangel.eth," unlocked 100,000 ENS ($2.28 million) from the ENS community treasury six hours ago and then sent those tokens to Binance. The address has unlocked a total of 363,000 ENS since May 4, 2022, of which 263,000 ENS has been deposited on Binance and currently holds 707,000 ENS ($16.79 million). The recent ENS unlocking and movement to Binance has sparked speculation within the crypto community about the reasons behind these actions. Some speculate that the contributor may be preparing to sell the ENS tokens, while others believe the funds are being moved to Binance for other purposes, such as providing liquidity or supporting ENS-related projects on the exchange. Whatever the reason, the large-scale unlocking and transfer of ENS tokens is a significant development that is likely to impact the price and liquidity of ENS in the coming days. Recently ENS has been on a positive trend after it was mentioned by Ethereum creator Vitalik Buterin on Twitter on June 21. Buterin praised ENS for its role in making Ethereum names more user-friendly and accessible. This positive attention from Buterin has helped to boost the profile of ENS and attract new users to the project. According to CoinMarketCap, ENS is currently trading at $23.88, up 6.73%.