Santiment: CEX Stablecoin Inflows Increasing, Market Signaling Bullishness

BlockBeats News, December 27th, the cryptocurrency market research firm Santiment posted on social media that after a general market decline following Christmas, the cryptocurrency market has shown an encouraging trend—whales have been transferring stablecoins to exchanges. According to Santiment's CEX Deposit Dashboard data, in just the past 24 hours, there have been 7 deposits worth at least $9 million transferred to Binance, with one as high as $50 million (2.33% of the total supply).

When the dashboard shows stablecoin deposits dominating the funds entering and exiting exchanges, it is usually a strong signal that whales are preparing to buy, potentially driving 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 as we approach the end of 2024.