Santiment: The inflow of stablecoins into CEX is gradually increasing, the market is sending bullish signals
The cryptocurrency market research institute Santiment posted on social media that after the general decline in the Christmas market, an encouraging trend has emerged in the cryptocurrency market - whales are transferring stablecoins to trading platforms.
According to data from Santiment's CEX deposit dashboard, just within the past 24 hours, there have been 7 deposits worth at least $9 million transferred into Binance, one of which was as high as $50 million (accounting for 2.33% of the total supply).
When this dashboard shows that stablecoin deposits dominate inflows and outflows on trading platforms, it is usually a strong signal indicating that whales are preparing to buy and may push up prices across the entire market. Although this does not guarantee that whales will immediately use these funds, it can be seen as a bullish signal towards the end of 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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