ChainCatcher message, the cryptocurrency market research organization Santiment stated on social media that after a general decline in the market during Christmas, an encouraging trend has emerged in the cryptocurrency market—whales are transferring stablecoins to trading platforms.
According to Santiment's CEX deposit dashboard, in just the past 24 hours, there have been 7 deposits of at least $9 million transferred to Binance, with one as high as $50 million (accounting for 2.33% of the total supply).
When the dashboard shows stablecoin deposits dominating the inflow and outflow of trading platform funds, it is usually a strong signal indicating that whales are preparing to make purchases, which could drive up prices across the entire market. Although this does not guarantee that whales will immediately use these funds, it can be seen as a bullish signal as we approach the end of 2024.