Recent analysis confirms our belief that whales are opening new buying positions and preparing to shift towards alternative cryptocurrencies. The data indicates a promising trend, as whales have transferred stablecoins to exchanges. According to CEX deposit data from @santimentfeed, Binance recorded seven separate deposits in the last 24 hours, each worth at least $9 million, including one of $50 million (2.33% of total supply). This dominance of stablecoin deposits suggests whales are poised for significant purchases, which could lead to a general market price increase as we approach the end of 2024.
