PANews reported on December 27 that crypto market research firm Santiment published an article on the X platform stating that after the general market decline on Christmas, there has been an encouraging trend in the cryptocurrency market - whales are transferring stablecoins to trading platforms. According to data from Santiment's CEX deposit dashboard, in the past 24 hours alone, seven deposits worth at least $9 million were transferred to Binance, including one as high as $50 million (2.33% of the entire supply).
When the dashboard shows that stablecoin deposits dominate the flow of funds into and out of trading platforms, it is usually a strong signal that whales are preparing to buy, which may drive the entire market price up. Although this does not guarantee that whales will use these funds immediately, it can be seen as a bullish sign as 2024 is coming to an end.
