Lookonchain: Institutions, Whales, and SmartMoney seem to be Buying from the Bottom

According to onchain analytical company, Lookonchain, institutions, whales, and smart money seem to be buying from the recent market tumble. After the news of SEC suing Binance, Cumberland withdrew 67.9M $USDC from Circle and deposited 67.1M $USDC to Coinbase. FalconX received 37M $USDC from Circle and deposited 29.5M $USDC to Binance.

BG Capital deposited 44M $USDT to Binance after the SEC sued Binance news reported. A SmartMoney, who is good at buying low and selling high, deposited 15.9M $USDT into Binance and withdrew 8,800 $ETH, the average buying price is $1,808.