The decentralized Oracle protocol Tellor’s native token, $TRB, has been on a bullish trajectory over the past week, marking a 19% gain during this period, with an additional 5% increase observed today.
Recent on-chain data from Spotonchain suggests that new whales are showing interest in accumulating $TRB.
Notably, Whale 0xcb2 made a significant move by withdrawing 35,000 TRB, amounting to approximately $3.26 million, from Binance at a price of $92.99 per token. This withdrawal indicates a strong vote of confidence from this whale in Tellor’s potential.
Whale 0xcb2 withdrew the first 35K $TRB ($3.26M) from #Binance at $92.99 ~2hrs ago, becoming the 9th largest holder.
Notably, the whale was an early trader of $AAVE and $KNC, having traded the tokens since their old versions in 2019, and gained $138K (big ROIs) in total profit!… pic.twitter.com/zcom839431
— Spot On Chain (@spotonchain) March 26, 2024
Delving into the history of Whale 0xcb2’s trading activities reveals an interesting pattern. The whale has previously engaged in trades involving tokens such as AAVE, KNC (in its old versions), and REN.
Substantial Profits From Whales’ Accumulation And Transfers
Notably, these trades resulted in substantial profits and losses:
- The whale realized a significant gain of $127,000, representing a staggering 2,397% return on investment (ROI), by trading LEND/AAVE between December 29, 2019, and October 31, 2020. This period coincided with the transition from LEND to AAVE, highlighting the whale’s astute timing in entering and exiting the market.
- Another profitable endeavor involved trading KNC (legacy), where the whale gained $10,600, equivalent to a 76.4% ROI, between December 29, 2019, and August 11, 2020.
- However, not all trades yielded positive results, as evidenced by a loss of $5,739, representing a 4.54% decrease, from trading 453,234 REN tokens between October 31 and November 1, 2020.
Despite occasional losses, the whale managed to amass a total profit of $138,000 from trading the old version tokens in 2019, demonstrating their ability to capitalize on market opportunities.
With Tellor’s $TRB gaining momentum and attracting the attention of discerning investors like Whale 0xcb2, the cryptocurrency community eagerly awaits further developments and potential price appreciation in the days to come.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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