Are whales manipulating the Teller (TRB) price?
Teller (TRB) has seen the most dramatic price movement in the last 24 hours. As a result, both buying and selling were liquidated. Liquidations in the last 24 hours amounted to $68 million. Are whales manipulating TRB price?
TRB has been the center of attention since the end of last week. This is because it has seen extremely volatile price movements, sparking speculation about potential manipulation of the markets.
Did the Tellor (TRB) team sell at the highest price?
First, on New Year’s Eve, the coin soared from $232 to an all-time high of $629. TRB then plummeted to a low of $121. As of this writing, it is trading at $222, 80% above its low.
As a result, TRB became the cryptocurrency asset with the most liquidations in the past 24 hours, surpassing major cryptocurrencies such as Bitcoin and Ethereum. The screenshot below shows that TRB traders lost over $68 million due to liquidations in the last 24 hours.
Specifically, a total of $24.51 million worth of long-term trades were liquidated, while $43.5 million worth of short-term trades faced the wrath of liquidation.
On-chain analysis platform Lookonchain Shared on X (Twitter) The Tellor team deposited 4,211 TRB tokens worth $2.4 million into Coinbase. The timing of the deposit almost coincided with TRB reaching its peak and then plummeting by about 70% within hours.
Some claim He said this is one of the biggest manipulations and will create fear in the market.
Read more: What is FUD? Exploring fear, uncertainty and doubt
Moreover, the screenshot below shows that just 14 whale wallets control 76% of the token supply. IntoTheBlock defines TRB whales as:
“This is an address that owns more than 1% of the distributed volume.”
Due to the high supply concentration of whales, there is a risk of pumps and dumps of tokens.
Read more: What It Means to Get ‘Rekt’: Crypto Terminology Explained
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