🔍 Monitoring smart wallet balances over the last 24 hours:

We observe a decrease in the stablecoin #SUSDE by 47%, likely due to its use in purchasing other currencies.

Bitcoin balances have also decreased by 16%, in a move considered profit-taking aimed at purchasing Ethereum and other currencies, as we notice that the decrease in #ETH balances did not exceed 3%.

There are also strong purchases of several currencies as shown in the attached image, such as: #UNI - #WLD - #AAVE.

In summary:

Smart wallets have taken profits from Bitcoin and shifted liquidity to Ethereum and some other currencies over the past 24 hours. Bitcoin may have peaked in its recent upward cycle, but the question now is: Are we on the verge of the beginning of an altcoin season?

We will be monitoring the behavior of these wallets in the coming hours: Will they hold what they have purchased, or will they return to convert liquidity into stablecoins?

👨‍💻 Data provided by Nanseen