After the traditional Christmas lull, the cryptocurrency market is showing encouraging signs of revival. Analysts have turned their attention to the activity of major investors, commonly referred to in the crypto community as "whales," who have begun large-scale transfers of stablecoins to trading platforms.
The analytical platform Santiment recorded a series of large transactions on the Binance exchange. Over the past 24 hours, seven significant transfers of the FDUSD stablecoin have been made, each exceeding $9 million. Notably, one transaction amounted to $50 million, representing 2.33% of the total FDUSD tokens in circulation.

Experts attribute some of these transfers to the launch of a new project, Bioprotocol ($BIO), on the Binance Launchpool platform. Major investors are using their BNB tokens and stablecoins to participate in mining the new altcoin, aiming to profit from the project's tokens.
Typically, an increase in stablecoin deposits on exchanges signals that large players are preparing to buy cryptocurrencies, potentially driving market-wide price growth. However, in this case, the activity is primarily linked to mining new tokens. Nevertheless, analysts view the heightened activity of major investors at the end of 2024 as a positive indicator.
As of December 27, the total market capitalization of cryptocurrencies reached $3.37 trillion, showing a 1.15% increase over the past 24 hours. The trading volume during the same period was $124.3 billion, rising by 0.58%. Stablecoins accounted for $115.76 billion of this volume, representing 93.13% of total trades. Bitcoin's market dominance slightly declined by 0.09% to 56.82%.

#Cryptocurrency #Binance #Stablecoins #FDUSD #WhalesActivity