Santiment: Whales transfer stablecoins to CEX, the market sends a bullish signal

Santiment posted on X 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, 7 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 in and out of trading platforms, it is usually a strong signal that whales are preparing for purchases, which may drive up prices across the market. Although this does not guarantee that whales will use these funds immediately, it can be seen as a bullish signal as 2024 is coming to an end.