drmor
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$ZEN Fortunately, on-chain analysis confirms our view that whales are opening new buy points and preparing for the transition to alternative currencies, as shown in the following analysis:
One encouraging trend is that whales are moving stablecoins to exchanges. According to CEX data provided by @santimentfeed, seven different deposits were recorded on the Binance platform in the last 24 hours, worth at least $9 million each, including one deposit of $50 million (equivalent to 2.33% of the total supply).
The predominance of stablecoin deposits on the exchange’s control panel is a strong indicator of whales’ willingness to make large purchases, which can lead to higher prices across the market. While there is no guarantee that whales will use these funds immediately, it is seen as a positive sign as we approach the end of 2024.
One encouraging trend is that whales are moving stablecoins to exchanges. According to CEX data provided by @santimentfeed, seven different deposits were recorded on the Binance platform in the last 24 hours, worth at least $9 million each, including one deposit of $50 million (equivalent to 2.33% of the total supply).
The predominance of stablecoin deposits on the exchange’s control panel is a strong indicator of whales’ willingness to make large purchases, which can lead to higher prices across the market. While there is no guarantee that whales will use these funds immediately, it is seen as a positive sign as we approach the end of 2024.