Crypto News- Last week witnessed a substantial downturn for Tellor (TRB), with the cryptocurrency falling more than 30%, courtesy of a significant surge in selling activities orchestrated by affluent investors, often referred to as ‘whales.’ The spotlight now shifts to uncovering the culprits behind the $TRB dump and deciphering the financial gains they reaped.
Whale Transactions Leave an Impact on $TRB Prices
Among the noteworthy transactions, wallet address 0x1d stands out, withdrawing a staggering 72,240 $TRB ($6.14 million) from Binance at $94 per unit. Depositing the funds back at $107 per unit resulted in a substantial profit of $955,000. Address 0x8f engaged in a similar move, withdrawing 65,724 $TRB ($5.6 million) from Binance at $35 per unit and profiting $4.5 million by depositing the funds at $104 per unit.
TRB Experiences Price Dip as Whales Intensify Selling Activity
However, not all transactions proved successful. The Binance user linked with address 0xC7 withdrew 94,136 $TRB tokens, valued at $8 million, at $138 per token. Unfortunately, the individual faced a loss of $4 million after the price dropped to $95 upon re-entry. Despite these fluctuations, twenty wallets have opted to retain their $TRB holdings without engaging in selling.
These twenty addresses collectively possess 1.08 million $TRB, amounting to $92.87 million or 42.5% of the total supply. Considering prevailing market conditions, the accumulated profit stands at approximately $47 million, distributed across 14 addresses.
In the midst of heightened price volatility, Tellor (TRB), positioned as a medium-market-cap cryptocurrency project, stands out as one of the few digital assets capable of surpassing previous highs during the recent alternative cryptocurrency surge. According to Santiment, a well-known market information service, TRB recorded an astounding 1,025% gain in value over the past 100 days. Presently holding the 165th rank in the cryptocurrency market with a market cap of $210,998,493 USD, the current TRB coin price hovers just below $83. TRB’s impressive climb from the 573rd position in August to 165th is a notable feat, as reported by CoinMarketCap.