A lot of cryptocurrencies are coming up in the market, and one of them is Tellor (TRB). So, many positive news is coming up concerning this token, Tellor (TRB). One of them is the news of crypto whales making as much as $270 million from trading this token. How was this possible? Continue reading as we find out.
The Tellor (TRB) Token and How it is Taking Over The Market
- The Tellor (TRB) token is another crypto project making massive waves in the crypto market. At the time of writing, it has a trading volume of more than $2 billion. Furthermore, the market cap is close to half a billion dollars. So, in the simplest form, Tellor is an oracle protocol. Serving as an oracle is quite an underrated task in the crypto industry. So, the function of this project is often to update valuable off-chain data, making it available for on-chain smart contracts.
- At Tellor’s Oracle, they attract more community members and users in a number of ways. So, one of them is that they offer incentives to those to make reports of this on-chain data.
Whales make Massive Profit with Tellor (TRB)
- A group of smart whales amassed a massive amount of profits just by buying the Tellor (TRB) token at the right time. So, this phenomenon shows how much cryptocurrencies can make for investors with the right decisions. Furthermore, this story illustrates how the crypto market will always favor those making the right decisions.
- So, a group of crypto whales started buying the Tellor (TRB) token when the price was still around $15. At the time of making this purchase, other metrics from this token were pretty low. Thus, the market cap and trading volume were still at the lowest. However, these whales are reaping massive profits for investing in Tellor (TRB). So, the current price for this token stands at close to $200. Apparently, its all-time high was more than $600. According to the calculations, the amount of profits these whales made from trading this token is more than $270 million. So, this is quite massive considering the time when they made this investment.
How These Whales Cashed Out Tellor (TRB)
- All through a lot of transactions under the watch of Lookonchain, these crypto whales made a lot of profit selling Tellor (TRB). So, we will start from the biggest withdrawals to the lowest.
- One of the most significant transactions of whales cashing out on Tellor was in October 2023. So, Lookonchain made a report of how around 22 whales had around 1,185,269 $TRB ($111.4M) in their account. So, they had a profit of more than $61 million there.
- In another separate report in August 2023, another whale made a massive withdrawal of Tellor tokens. So, this whale made a withdrawal of a total of 872,602 TRB ($34.3M), 36% of the total supply.
- In the same August, there was a report from Lookonchain saying that a singular whale made a massive withdrawal. So, the amount here is 540,777 $TRB ($21.24M). Furthermore, this same whale has a total of 872,646 TRB ($34.5M) to his name.
More Reports from Lookonchain
- There was another group of 6 whales who made a massive accumulation of TRB. So, the details show around 286,375 $TRB($15.3M) to their name. Basically, these whales mostly buy within the price range of $15 – $60 and sell them off.
- Another report from Lookonchain was in October 2023. So, 7 wallets were profiting from TRB in this case. Apparently, there was an accumulation of a whopping 332,712 $TRB($20.64M). There was a profit of more than $10 million.
- In the same report from October 2023, another whale made a withdrawal of 539,746 $TRB ($33.88M. So, he was in profit of a massive $15 million.
- One of the most recent reports was in November 2023. So, around 20 addresses had over 1.08M $TRB ($92.87M). Furthermore, it made a profit of more than $50 million.
What is next for Tellor (TRB) in the crypto market?
- After the reports of crypto whales making over $270 million in profits from this token, what next for Tellor (TRB)? Well, there are many things in stock for this token that keep up with its original vision. Currently, there are many traders shorting this token. So, this is because the price reached an all-time high on 31st December 2023. However, it was quick to reduce to $195 on 1st January 2024. Hence, traders will have to be careful when trading this token.
Conclusion
The Tellor (TRB) is another crypto project attracting a lot of attention in the market. So, this is evident with the amount of traders trading this token. At the time of writing, it has more than $2 billion trading volume. Apparently, a group of crypto whales made a massive profit after buying this token when it was still at $15.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
