Cryptocurrency analyst Joao Wedson pointed out in his latest rating that a large number of Altcoins have been withdrawn from Binance Exchange, claiming that this represents a huge accumulation of “smart money” in the market.
“The Binance Net Flow Heat Map shows that many altcoins are experiencing more outflows than inflows, which usually indicates long-term holding strategies, potential supply shocks, and institutional accumulation,” Wedson said in a statement.
Some altcoins that have experienced a severe leak are
- Enj, fet, ghst, slp, gtc, link, ilv, 1inch, crv, skl, alice, eth, uma, mkr, shib, doge, snx, aave.
Wedson emphasized the importance of these moves, particularly in the exchange of benance.
“Binance is more than just an exchange. It is the heart of the global crypto market. Its unparalleled liquidity, facility-grade compliance, track record and global dominance are the reasons why whales, institutional investors and individual investors like it.”
Experts say such outflows can mean that investors are moving assets to refrigerate for long-term holdings.
*This is not investment advice.
