Santiment: CEX stablecoin inflows are increasing, and the market is sending bullish signals

cryptocurrency research firm Santiment has posted on social media that there is an encouraging trend in the cryptocurrency market after the general decline during Christmas - whales are transferring stablecoins to trading platforms. According to Santiment's CEX deposit dashboard data, in just the past 24 hours, there have been seven deposits worth at least $9 million transferred to Binance, including one as high as $50 million (2.33% of the entire supply).

When the dashboard shows stablecoin deposits dominating the inflow and outflow of funds on trading platforms, it is usually a strong signal that whales are preparing to buy and may drive up the overall market price. Although this does not guarantee that whales will immediately use these funds, it can be seen as a bullish signal for the end of 2024.