ENS has been on the news lately, apparently a lot of people got excited about numerical domain names.

This has nicely reflected in the price and network activity of the ENS token:

But there was an interesting difference in behaviour of smaller and larger ENS holders, specifically the 10-1000 tokens group and the 1000-100000 group:

You can clearly see than the smaller holders were just slowly bleeding their tokens, regardless of the price, while the larger holders were able to play the market quite nicely, increasing their holdings before price growth and taking profits near the local tops.

If you have an idea what could be the reason for such radically different behaviour, feel free to share in the comments!