The sudden price movement in Tellor Tributes (TRB) brought about serious speculation while liquidating long positions worth millions of dollars.
TRB, 15 October 04.30 CEST around around 60% When there was a sudden rise, investors with long positions were caught off guard. According to data provided by on-chain analysis platform Coinglass, this short-term sudden rise $3.11 million resulted in the liquidation of the long position.
Data shows liquidations $1.71 million cryptocurrency exchange at OKX, $1.19 million on Huobi revealed that it happened.
According to CoinGecko data, before the sudden price movement 50 Dollars TRB, located in the band 58.5% with rise for $81 reached. TRB, in a short time retreating to $60 It was like a liquidity cleanup.
on the other hand futures in the markets This sudden rise to spot markets It was not fully reflected. The value of TRB in the spot market when it reached $81 in futures transactions for $79 was able to reach . Within a few hours after the sudden price movement, futures and spot market prices had difficulty equalizing.
Circulating supply is in the hands of a few wallets
Looking at Etherscan data, cryptocurrency exchange BinanceTRB supply in circulation to 17.9% corresponding 454 million TRBIt hosts . Approximately a 17% supply corresponding 441 million TRB whereas “0xCc…8b8It is kept in a wallet named “. “0x65…04c2An anonymous wallet named ” is the source of the circulating supply. to 4% corresponding 111 million TRBIt contains .
When we look at the general picture, the assets in circulation belonging to the project 17.9%‘u on Binance, the rest 30% circulating supply in total in 5 different wallets is being kept. Projects like these where a significant portion of the circulating supply is controlled by a limited number of wallets to price manipulations It becomes much clearer.
Reactions poured in
Many social media users and market analysts described this price movement as “robbery” and the reactions grew like an avalanche. In the comments, there are people who do not have any background and have only been in the last month. 300% rise This upward wick of a project constitutionalism questioned.
TRB, at the time of writing from $59.5 finds buyers. Trellor, Ethereum (ETH) A decentralized system that connects smart contracts to external data. oracle network. TRB is also the native token of this protocol. Another popular cryptocurrency that serves a similar function to Trellor in the cryptocurrency market is Trellor. Chainlink (LINK) appears as.