cryptopolitan.com
Ethereum Name Service ($ENS) and Ethena ($ENA) turned up as the biggest gainers in the crypto market over the last 24 hours while Bitcoin ($BTC) took another chance to hit $100k. Major altcoins like Ethereum ($ETH) and $XRP also rallied over 4% as the market sentiments remained “Extreme Greed”.
The global crypto market printed green indexes all around since Bitcoin surged above $97,000, fueling speculation about a potential breakout. $BTC gains were pared back to nearly $95,500 after a confident attempt. The cumulative digital assets market cap is up over 2% to stand at $3.3 trillion with a trading volume of $200 billion.
$ENS spikes by over 36%
Ethereum Name Service turned out to be the biggest winner of the day as its price spiked by over 36% in the last 24 hours. $ENS price is now up by 102% in the last 30 days, trading at an average price of $34.13, at the press time. However, it is still down by 60% from its all time high of $85.69, recorded on November 11, 2021.
Data shows that the $ENS mega pump pushed some whales to cash in profits. A long term holder whale wallet reportedly became active after 5 months and deposited 50k $ENS (approx worth $1.66 million) to Binance and booked a profit of $968k profit.
This whale wallet had accumulated more than 322K $ENS in 2022 at a price of $13.86 and has unloaded 272.7 $ENS at a price of $20.75 since January 2024. It is now holding 50K $ENS more with an est profit of $2.9 million.
Coinbase CEO, Brian Armstrong, in an X post, stated that the Internet of Money is happening and Lego pieces are ready to be assembled for consumer utility. He mentioned that $ENS is building identity while Base is helping blockchains scale.
Arthur Hayes goes behind $ENA
Ethena became another major gainer of the day after recording a surge of over 15%. $ENA price is up by 85% in the last 30 days, trading at an average price of $0.714, at the press time. Its 24 hour trading volume is up by 27% to stand at $603 million.
Amid $ENA’s recorded fresh surge, Arthur Hayes again decided to go long on the project. He withdrew another 10.36 million $ENA (approx worth $7.49 million) from Binance. This brings his 2 day total accumulation to 16.79 million $ENA and that too at an average price of $0.666. His unrealized profit stands at around $1.14 million.
Can Ether perform a comeback?
Bitcoin saw a 3% increase in the past 24 hours, with Thanksgiving weekend historically being a period for sudden price shifts. Major tokens followed $BTC’s lead, with Ether outperforming with a 7% gain, while $XRP and BNB Chain rose 6%, and Dogecoin saw a 5% surge.
Data shows an increases in Ethereum’s revenue, fees, and wallet creation, along with a record $27 billion in open interest for $ETH futures contracts. This points to strong market expectations for $ETH. QCP Capital reports that money flows are shifting towards $ETH, with the $ETH/$BTC pair surging 13%. Ether is trading at an average price of $3,630, at the press time.
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