THE HEAT MAP IS ALREADY POINTING TO ALTSEASON
There is a large amount of cryptocurrency withdrawals from Binance to cold wallets, which will favor the arrival of ALTSEASON
ETH, DOGE, and SHIB are some of the altcoins with more withdrawals than deposits on Binance.
Traders and investors in altcoins are still waiting for the arrival of altseason.
The altcoin market is sending bullish signals, and recent data suggests that whales (investors who accumulate large amounts of a cryptocurrency) are positioning themselves for a future upward movement that could lead to an altseason.
A massive and simultaneous outflow of altcoins from Binance, considered the largest cryptocurrency exchange in the world today, is revealed.
Among the altcoins with the highest outflows are ETH, DOGE, and SHIB, which are often favorites among investors due to their history and relevance in the market. However, others like ENJ, FET, GHST, BTT, SLP, GTC, LINK, ILV, 1INCH, CRV, SKL, ALICE, UMA, MKR, SNX, and AAVE also show a greater outflow than inflow.
According to this map, the redder the color of the cryptocurrency, the greater the proportion of withdrawals compared to deposits.
This outflow pattern from the exchange is a classic indicator of accumulation. When whales or large investors withdraw their assets from trading platforms, it implies that they have no intention of selling them in the short term but are looking to hold them long term, anticipating an increase in value. Less supply on exchanges tends to reduce selling pressure and can catalyze a price surge, as long as demand remains steady or increases.
$ETH
$DOGE
$SHIB
