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.
If you found this helpful, Subscribe to The Art of the Bubble’s free newsletter.
Join us on Discord for live chat and daily updates. Find us on Twitter too.
