Tellor, a decentralized oracle network powering DeFi platforms with real-world data, has seen an astonishing rally, surging by more than 1,025% in only three months. This exceptional ascent has slung Tellor to the 112th position in the cryptocurrency market cap rankings, highlighting its developing unmistakable quality in the crypto space. As of late, Tellor’s price arrived at a yearly high, drifting around $136, and meaning to surpass its all-time high of $163.7.
📈 #Tellor continues to be a force in #crypto, jumping as high as $131 today and nearing its May, 2021 #AllTimeHigh. The asset is +1,025% in 3 months, now 112th in market cap rank, and key 1K-100K $TRB wallets have accumulated 15% of the supply in 7 weeks. https://t.co/ZZLpZC2LE1 pic.twitter.com/FvEGd1KjQh
— Santiment (@santimentfeed) November 7, 2023
Top Wallet Accumulates Large Amounts Of $TRB
Eminently, there have been huge changes in the dynamics of Tellor’s token (TRB) distribution. Wallets holding somewhere in the range of 1,000 and 100,000 TRB have substantially increased their possessions, accumulating a significant 15% of the total supply in a last seven weeks. This sharp rise is an obvious sign of developing interest in Tellor and a confidence in its true capacity.
Massive Whale Exchange Withdrawals For $TRB
One more charming aspect is the elevated movement of cryptocurrency whales in the Tellor ecosystem. Late transactions demonstrate more successive developments of TRB tokens among large holders. Prominently, one huge wallet, labeled as 0xc75, has obtained 42,742 TRB tokens valued at almost $5 million from Binance. This significant accumulation proposes that the wallet holder has trust in TRB’s possibilities for additional growth and has faith in its long-term potential. In the last two days, this whale withdrew a noteworthy 94,136 TRB, comparable to $12.2 million, from Binance. This significant movement has pushed them to turn into the fifth-largest holder of TRB tokens, emphasizing areas of strength for them in Tellor’s future.
Expected Growth From Late Happenings
The accumulation of countless tokens by a single wallet holder frequently demonstrates their expectation of the asset’s future growth. On account of Tellor, this could flag trust in TRB’s move in vertical direction and the expectations for arriving at new all-time highs. The Tellor ecosystem’s growing dynamics, rising adoption, and increased certainty among large stakeholders are factors adding to this cryptocurrency’s brilliant rise.
All in all, Tellor’s noteworthy price surge and the changing dynamics of TRB token distribution, coupled with the elevated movement of cryptocurrency whales, lay out a promising picture for the eventual fate of this decentralized oracle network. Investors and the crypto community at large are watching out for Tellor’s excursion as it keeps on causing disturbances in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.