CoinVoice has recently learned that the crypto market research agency 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 worth at least $9 million transferred to Binance, with one as high as $50 million (accounting for 2.33% of the total supply).
When this dashboard shows that stablecoin deposits dominate the inflow and outflow of funds on trading platforms, it is often a strong signal indicating that whales are preparing to buy, which could drive up the overall market price. 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. [Original link]