On-chain analytics firm Lookonchain shed some light on recent moves from professional traders this morning. According to the report, whales are preparing to buy large amounts of altcoins from exchanges.
Smart money started sending stablecoins to exchanges, possibly to raise altcoins
According to Lookonchain’s report, a smart money wallet deposited more than 12 million USDT on Binance after altcoin prices fell. This behavior may indicate that they are preparing to accumulate some altcoins at the current market bottom. In March, FTX withdrawals
