Whales Utilize Stablecoins As They Continue To Move Risk Off, BUSD Is Now The Top Token
February 8, 2023
Image via WhaleStats
- USDC no longer holds its position as a net-sell like it did for the past two weeks.
- Currently BUSD is the top sold ($255k) and purchased ($231k) token. Perhaps because it is the safest option, to deal with stablecoins. Following BUSD’s lead is USDC, coming in second as the top purchased and sold coin.
- It looks like there is less whale activity as no transaction is greater than $1 million and most of the numbers are not in the higher thousands.
Dealing with stablecoins is a risk off move that Whales have been utilizing for quite some time now. They offer security and a form of stability in this fluctuating market. To follow the whales, play it safe right now just as they are.
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