Tellor (TRB) Drops from $185 to $128 in a Single Day
On December 20th alone, the price of Tellor (TRB) experienced significant volatility, surging to $185 before swiftly retreating to $128, believed to be influenced by whale activity.
Tellor (TRB) Drops from $185 to $128 in a Single Day
On the evening of December 20th, the price of Tellor (TRB) saw a sudden spike from $140 to a new peak of $185. However, it quickly retracted to its previous levels within an hour, currently stabilizing around $128.
TRB/USDT fluctuations on Binance captured at 14:10 on December 20th, 2023
During this period of volatility, Tellor's liquidation value reached $6.6 million, predominantly concentrated on the OKX exchange, according to Wu Blockchain.
Tellor (TRB) has shown unusually strong growth, starting from around $10 in September to its current $128, marking an increase of over 1100%. The coin surged 360% in September alone and nearly 50% in the last 30 days.
This price surge scenario for TRB previously occurred in May 2021, when the coin reached its previous all-time high (ATH) of $164, only to plummet to as low as $33 just over a week later.
TRB/USDT fluctuations from the previous ATH on May 10th, 2021, on Binance
As reported by Coin68, Lookonchain previously indicated that several whale wallets were exerting significant influence over Tellor (TRB). One such wallet held 540,777 TRB, equivalent to 22% of the total token supply, with four other wallets collectively holding around 7%, all of which moved large amounts of tokens in and out of Binance around mid-September.
1/ The price of $TRB has increased by 360% from $10 to $46 in the past month.
— Lookonchain (@lookonchain) September 16, 2023
A whale has accumulated 540,777 $TRB ($21.24M) since Aug 30, 22% of the total supply.
4 whales withdrew a total of 181,657 $TRB ($7.14M) from #Binance on Sept 14, 7% of the total supply. pic.twitter.com/WUaIlfDXGA
Tellor (TRB) is an oracle project where miners compete to confirm and add data points to an on-chain data bank. The project's TRB token has an infinite supply determined by usage and mining rates. However, the burn rate of TRB compared to daily issuance remains minimal, leading to high inflation and significant price fluctuations.
Despite being hailed as a newcomer expanding the oracle niche, Tellor (TRB) is still considered a high-risk investment project. Users are advised to equip themselves with knowledge before engaging in transactions involving such assets.
