Former ENS Operations Director Makes Strategic Move as Ethereum Name Service Surges

The Ethereum Name Service ($ENS) has seen a significant 49% surge in value over the past week, driven by growing market optimism. This increase comes as former ENS Operations Director Brantly Millegan makes a strategic move, depositing $1.98 million worth of ENS tokens to Coinbase, totaling 92,535 tokens at a price of $21.34 each.Millegan's recent deposit is part of a series of strategic moves he has made throughout the year, with a total of $6.53 million deposited to Coinbase since January. Despite these deposits, Millegan still holds around 373,000 ENS tokens valued at $7.97 million in a timelock contract, showcasing his continued confidence in the token's potential.The surge in ENS value is closely tied to positive developments in the Ethereum ecosystem, particularly the anticipation of an Ethereum ETF approval. This positive outlook has driven investor interest and pushed prices higher. However, a recent 2% dip in ENS price highlights the market's volatility, prompting market watchers to closely monitor its performance in the coming days.With key players like Millegan making strategic moves and the growing optimism around Ethereum ETFs, the landscape for ENS is evolving rapidly. As the market reacts to these developments, ENS remains a token of interest to watch closely for potential opportunities.