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.
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