PANews December 27 news, cryptocurrency market research institution Santiment posted on the X platform, stating that after a general decline in the market during Christmas, there is an encouraging trend in the cryptocurrency market - whales are transferring stablecoins to trading platforms. According to Santiment's CEX deposit dashboard data, in just the past 24 hours, there have been 7 deposits of at least $9 million into Binance, with one as high as $50 million (accounting for 2.33% of the entire supply).
When the dashboard shows that stablecoin deposits dominate the inflow and outflow of funds on trading platforms, it is usually a strong signal indicating that whales are preparing to buy, which could drive the overall market price up. 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.