Ethereum Name Service

After a massive price surge across the cryptocurrency market, today the majority of cryptocurrencies have seen some price correction. Amid this price correction, an on-chain analytics firm, Lookonchain, posted on X (formerly Twitter) that a wallet related to Brantly Milligan has deposited 92.5k Ethereum Name Service (ENS) tokens worth $2 million to Coinbase. ENS core member sold $2 million ENS token Lookonchain highlights that Brantly Milligan is a former core team member of ENS (Ethereum Name Service). Additionally, during the early days, he received over 1 million ENS tokens worth $22.4 million. However, so far, he has sold a massive 753k ENS tokens worth $14.14 million at an average price of $18.76. Lookonchain also noted that the majority of his ENS selling was done at high levels. Following this massive selling, Brantly’s wallet currently holds 273,740 ENS tokens. 
With this massive selling, the <a href="https://news.todayq.com/ethereum-name-service-ens-prepares-for-layer-2-expansion/" rel="noopener noreferrer nofollow">ENS token</a> is currently trading near $21. In the last 24 hours, it experienced a significant over 8% upward momentum. Over a longer period, the ENS token saw a massive price surge of over 57% in the last 7 days and a 36% increase in the last 30 days. Following this price surge, it is observed that investors and traders are showing more interest as ENS’s 24-hour trading volume has increased by 44%, currently standing near $390 million. ENS technical analysis and key levels 
According to expert technical analysis, ENS is looking bullish and is currently heading toward the $26.5 level. However, this $26.5 level is a strong resistance level. Looking at the ENS chart on a daily timeframe, it appears that there might be a correction due to ENS surging more than 50% in the last 3 days. This might be the reason behind Brantly Milligan’s ENS selling.
Despite ENS’s significant price surge, today the majority of cryptocurrencies are showing some price correction. On the other hand, the world’s second-biggest cryptocurrency, Ethereum, and the biggest meme coin, DOGE, have seen impressive price surges of over 2% and 3%, respectively. In contrast, Bitcoin, Toncoin, and XRP have experienced a notable decline in their prices.
Overall, the market’s dynamics indicate a mixed performance. While tokens like ENS are experiencing bullish trends and increased investor interest, many other assets are correcting after recent gains. This behavior highlights the volatile nature of cryptocurrencies, driven by significant token movements and broader market sentiment.

ENS core member on dumping spree amid 60% price jump, what’s the next move?

Todayq News

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