Crypto News

Tellor ($TRB) Surges To New All-Time High At $248, Here’s What’s Happening 

Tellor, the decentralized oracle system designed to provide external data to blockchain networks, has witnessed a remarkable surge in its native token, $TRB.

Over the past 24 hours, the price of Tellor’s cryptocurrency, $TRB, has surged by more than 39%, reaching a new all-time high (ATH) at $248.70 at the time of writing. This marks a significant milestone in what has already been a standout year for the token, experiencing a staggering 1800% surge from $7.6 to $248.

Spotonchain reports reveal that out of the 2.5 million $TRB in circulation, approximately 1.7 million are currently on exchanges. Notably, 20 whales collectively own 660K of these tokens, constituting nearly 95% of the total supply. These whales strategically accumulated these tokens back in August and September when the price was a profitable $15.

$TRB Whale’s Profit To Watch

The cumulative profit for these whales stands at an impressive $120 million, comprising $40 million in realized profit and $80 million in unrealized profit. This substantial gain results from the $TRB price surging 15 times since their initial acquisition.

In recent months, these whales have been gradually offloading their tokens on exchanges, implementing a pump and dump cycle to liquidate their holdings. Despite this, the whales still retain the majority of the tokens, giving them considerable influence over market dynamics. This situation raises the possibility of significant price movements, including pumps to close out short positions and strong dumps to divest themselves of holdings.

The current trajectory of Tellor’s $TRB token reflects its remarkable journey, showcasing substantial gains and the influence of strategic whale activity in the cryptocurrency market.

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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Image Source: peshkov/123RF // Image Effects by Colorcinch

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