A Whale Transfers $2.04 Million Worth ENS to Binance: Follow the Money
CryptoNewsTerminal Staff06 Jun, 2024
A Whale Transfers $2.04 Million Worth ENS to Binance: Follow the Money
On-chain data analytics provider EmberCN reported via Twitter that a certain institutional address "betting on the Ethereum ecosystem" transferred 820k ENS ($2.04 million) to Binance 20 minutes ago. This same address had purchased 820k ENS for an average price of $23.43 on May 24. ENS is reportedly trading at $24.62 currently, up by 2.37%, as per CoinMarketCap. The transfer is a bulk transaction and ENS is not particularly a speculative asset. Hence, experts believe that the address could be sending the ENS to Binance for some trading strategies.
