- Ethereum Name Service (ENS) jumps 36% in 24 hours, up 102% over the month.
- Ethena (ENA) rises 18%, recording an 85% monthly gain as Arthur Hayes goes bullish.
- Bitcoin hits $97K before easing to $95.5K, pushing altcoins like ETH and XRP higher.
- Market sentiment remains at “Extreme Greed” as cumulative crypto market cap reaches $3.3T.
The crypto market is heating up as Ethereum Name Service (ENS) and Ethena (ENA) lead the rally, riding Bitcoin’s near-breakout to the $100K mark. The global crypto market cap surged past $3.3 trillion, with major altcoins also posting gains. Here’s a closer look at the biggest movers and what’s driving their momentum.
ENS Rockets 36% in 24 Hours
Ethereum Name Service (ENS) emerged as the day’s biggest gainer, skyrocketing 36% in just 24 hours. Over the past month, ENS has climbed an impressive 102%, currently trading at $34.13. Despite this surge, ENS remains 60% below its all-time high of $85.69, recorded in November 2021.
https://twitter.com/oliverzok/status/1861958343868244264
The rally saw significant whale activity. A long-dormant wallet that hadn’t moved funds in five months transferred 50K ENS (valued at $1.66 million) to Binance, booking a $968K profit. This wallet, which accumulated over 322K ENS tokens at $13.86 in 2022, has steadily reduced its holdings, profiting an estimated $2.9 million so far.
https://twitter.com/JavonTM1/status/1861930657481359740
Coinbase CEO Brian Armstrong praised ENS’s progress on social media, stating, “The Internet of Money is happening, and the Lego pieces are coming together.” Armstrong highlighted ENS’s contributions to digital identity as key to building consumer-focused blockchain solutions.
Ethena (ENA) Gains Momentum, Thanks to Arthur Hayes
Ethena (ENA) also surged 18% in the last 24 hours, extending its monthly gains to 85%. ENA is now trading at $0.714, with a 24-hour trading volume up 27% to $603 million.
https://twitter.com/AlexanderBTC8/status/1862067531994763393
The surge comes as former BitMEX CEO Arthur Hayes doubled down on his bullish stance. Over the past two days, Hayes has accumulated 16.79 million ENA tokens (worth $12.5 million), purchased at an average price of $0.666. His unrealized profit now stands at $1.14 million, showcasing growing confidence in the project.
Bitcoin Eyes $100K, Ether Steals the Showe
Bitcoin made a strong push to $97K, briefly nearing the psychological $100K barrier before retracing to $95.5K. The Thanksgiving weekend has historically brought volatility, and this year seems no different, with Bitcoin’s momentum lifting the broader market.
Altcoins followed Bitcoin’s lead, with Ethereum (ETH) standing out with a 7% gain. ETH is currently trading at $3,630, supported by increased wallet creation, record open interest of $27 billion in ETH futures, and growing revenue. XRP, BNB, and Dogecoin also posted solid gains, rising 6%, 6%, and 5% respectively.
Data from QCP Capital indicates that money flows are shifting toward Ethereum, with the ETH/BTC pair surging 13%. Analysts suggest Ether could be gearing up for a significant rally as it capitalizes on Bitcoin’s momentum and builds strong fundamentals in the DeFi space.
