Santiment posted that the cryptocurrency market has seen a trend of whales moving stablecoins to exchanges after the general market decline after Christmas. According to Santiment's top CEX deposit dashboard, there have been seven different Binance deposits in the last 24 hours alone, each worth at least $9 million, including one deposit worth $50 million (2.33% of the total supply).
When this dashboard primarily shows stablecoins deposited on exchanges, it is a strong signal that the whales are preparing for some purchases, which could drive the overall price of the market higher. While there is no guarantee that these whales will use the funds immediately, it can be taken as a bullish signal considering the last days of 2024.
Santiment: 7 stablecoins worth at least $9 million have been transferred to Binance in the past 24 hours, which may drive the overall price of the market up
2024-12-27 03:53:59
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