A recent movement that created shock waves in the Bitcoin and altcoin markets attracts attention. The whales have made a move. Accordingly, a newly created wallet withdrew 18,296 Tellor (TRB) tokens from Binance, equivalent to approximately $1.14 million. This move created excitement among investors and traders.
Extraordinary 550% rise of altcoin TRB
This dramatic shooting took place amidst a significant surge in TRB price, which has witnessed a staggering 550% increase since August 25. The sudden rise in value attracted the attention of both experienced and novice investors. Accordingly, these investors are currently closely monitoring altcoin TRB for trading opportunities.
1/ A fresh wallet withdrew 18,296 $TRB ($1.14M) from #Binance 50 mins ago
The price of $TRB has increased by 550% since Aug 25.
If you want to short $TRByou must pay attention to these whale addresses. pic.twitter.com/6wqEwTXV6K
— Lookonchain (@lookonchain) October 20, 2023
A group of seven prominent whale addresses stands out. Since September, they have accumulated 332,712 altcoins TRB, equivalent to $20.64 million. Accordingly, this situation is important for those who want to short the altcoin TRB. They need to follow these addresses. What sets these addresses apart is their commitment to holding TRB assets. They also choose not to sell any part of their stash.
Big profits and potential decline concerns
These seven addresses collectively made a significant profit from the altcoin TRB. Accordingly, their earnings exceeded 10 million dollars. This situation pushes investors to be cautious against the possibility of a sudden sale by these whales. The fear is that they may choose to divest their assets at any time to make significant profits.
The most dominant whale in the altcoin TRB ecosystem currently owns 539,746 TRB tokens, amounting to a staggering $33.88 million. This important investment is spread across three different addresses. It also adds a layer of complexity to the dynamics of this entity.
Keeping an eye out for whales
Let’s say the purchase cost of this leading whale was about $22. Accordingly, this means significant gains in a relatively short period of time. Current profits currently exceed $14.5 million. Additionally, the whale retains the potential to liquidate some of its altcoin TRB holdings at any time to capitalize on these gains.
In conclusion, the crypto market is an ever-evolving and dynamic space. On the other hand, when we look at cryptokoin.com, the existence of whales with significant assets can significantly affect the market dynamics. For investors following the altcoin TRB, it is important to remain alert to the movements of these whales and their potential impact on the token value. Although the rising altcoin price is attractive, it is necessary to act cautiously.
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