Stablecoins as a % of Smart Money's holdings currently hovers between 20-30%, a large increase from this time last year (5-10%).
Worth noting that this increase in holdings % could, alongside them potentially being cautious, also be attributed to the fall in market wide prices, meaning stables now make up a larger value of their portfolios.
Smart Money is a label applied by Nansen to high-performing wallets, you can read more about our labels on the Nansen website.