The decentralized Oracle protocol, Tellor ($TRB), has experienced a notable uptrend over the past month, with its value soaring by an impressive 112% within this period.
In the realm of cryptocurrency, Tellor stands out as one of the top performers in terms of weekly gains, having surged by 47% in just the past week alone.
This surge in value has attracted the attention of large investors, commonly referred to as whales, who have been quick to capitalize on Tellor’s upward trajectory.
Spotonchain data reveals that these whales have seized the opportunity to cash in on the Tellor price surge, collectively pocketing a substantial profit of $3.56 million from their $TRB holdings.
8 whales have taken $3.56M in profits from $TRB after the price surged 100%+ in the past week!
These whales withdrew a total of 82,849 $TRB from #Coinbase at only ~$80.2 between early Mar and May, then deposited $TRB away at ~$123 (+53.6%), after around 2 months of holding.… pic.twitter.com/YHb09vmhS2
— Spot On Chain (@spotonchain) May 12, 2024
$TRB Whales Withdraw A Total Of 82,849 $TRB Tokens From Exchanges
The strategy employed by these whales involved withdrawing a total of 82,849 $TRB from Coinbase at an average price of approximately $80.2 over a span of two months, beginning from early March to May. Subsequently, these tokens were strategically deposited away at a significantly higher price of around $123, marking a remarkable increase of 53.6%.
This calculated move underscores the profit-taking strategy employed by savvy investors in the volatile cryptocurrency market. By capitalizing on price surges and strategically timing their transactions, these whales have managed to secure substantial profits from their Tellor holdings.
The recent surge in Tellor’s value highlights the growing interest and confidence in decentralized Oracle protocols within the cryptocurrency community. As the market continues to evolve, the role of projects like Tellor in providing secure and reliable data to decentralized applications becomes increasingly crucial.
Overall, Tellor’s impressive performance over the past month, coupled with the strategic maneuvers of large investors, reflects the dynamic nature of the cryptocurrency market and the potential for significant gains for those who navigate it wisely.
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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