Ethereum (ETH) whales are demonstrating significant activity, with a surge in stablecoin deposits to centralized exchanges signaling a potential market rally. Data from Santiment reveals that Ethereum-based tokens have dominated large-scale transfers to CEXs over the past 24 hours, capturing 80% of the top deposit movements, according to their Crypto Deposits Radar dashboard. This trend is attributed to Ethena’s USDe stablecoin leading the charge, with three massive Bybit deposits totaling over $69.3 million in a short time frame. 80% of these large-scale transfers were from Ethereum-based tokens, highlighting ETH’s continued dominance in DeFi liquidity. This activity aligns with past patterns where stablecoin deposits to exchanges often precede spot buying sprees. The Santiment dashboard indicates that the recent influx of money into CEXs is likely signaling a market shift toward increased bullish sentiment. 80% of these large-scale transfers were from Ethereum-based tokens, showing strong confidence in ETH’s scalability post-Dencun upgrade and attracting new capital to DeFi protocols. As Ethereum continues to evolve with layer-2 solutions like Arbitrum and Optimism reducing fees, this whale activity suggests a potential for renewed market momentum.