Tellor (TRB) price falls 35% following massive whale sell-off

The price of Tellor (TRB) fell more than 35% in the past 7 days.

A web3 data analysis tool Lookonchain reported several multi-million dollar profits were made from the coin despite the whale-selling triggered dip.

Up 4.5 million 

In recent transactions, three different addresses executed movements involving TRB tokens on the Binance platform. The address 0x1d withdrew 72,240 TRB, equivalent to $6.14 million, from Binance at $94 and subsequently deposited it at $107, resulting in a profit of approximately $955,000. 

1/ The price of fell by more than 30% last week due to whale selling.Who dumped ? Did they make money?Which whales haven’t sold ?

— Lookonchain (@lookonchain)

Address 0x8f withdrew 65,724 TRB, valued at $5.6 million, from Binance at $35, later depositing it at $104, generating a profit of approximately $4.5 million. However, address 0xC7 withdrew 94,136 TRB, equivalent to $8 million, from Binance at $138 and deposited it at $95, incurring a loss of approximately $4 million.

Based on the current price of the token, the total profit is said to be close to 47 million with 14 profitable addresses.

The harder they fall

Tellor initially gained traction a few weeks prior, on Oct. 24, when it surged over 150% in price, solidifying its position as a top gainer among various altcoins. 

This growth continued into November, with a report on the 3rd showing another 10.15% uptick, securing it as the second-highest performer on CoinMarketCap for that day, later leading to a hack warning from Peck Shield.

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2023-11-13 21:51