The past 24 hours have been a wild ride for Tellor (TRB), as its price witnessed both a surge and a crash that appeared to be indicative of price manipulation. In a matter of hours, the cryptocurrency soared to over $600 before plummeting down to $137. These drastic price fluctuations were accompanied by an abnormal number of liquidated positions, with both long and short positions being abandoned by whales amidst rumors of manipulation.
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According to data from CoinGlass, TRB witnessed more liquidated positions than any other crypto within this time period, with whales exiting both long and short positions amidst rumors of manipulation.
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The market data from CoinGlass reveals how Tellor (TRB) stood out during this period, recording the highest number of liquidated positions among all cryptocurrencies. This unusual activity, combined with the swirling rumors of manipulation, has left many investors puzzled and concerned about the legitimacy of TRB’s recent price movements.
Tellor’s price had been on a steady upward trajectory since the beginning of the month, steadily gaining momentum. However, on December 31, the cryptocurrency experienced an unprecedented surge that propelled it to a new all-time high of $602. Coinmarketcap data showed a staggering 1000% increase in trading volume accompanying this price surge. Unfortunately, this upward momentum was short-lived, as TRB quickly plummeted back down to $139, leaving investors bewildered.
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TRB has been on a steady price increase since the beginning of the month. This increase was particularly exacerbated on December 31, pushing the crypto to a new all-time high of $602…
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The sharp contrast between the soaring price of TRB on December 31 and its subsequent crash highlights the extreme volatility that exists within the cryptocurrency market. Investors were initially elated by the unprecedented surge, only to be met with disappointment as TRB rapidly lost its gains. This rollercoaster-like behavior is a testament to the inherent risk and unpredictability associated with investing in altcoins like TRB.
The price volatility of TRB in the past 24 hours led to a significant number of liquidated positions, ultimately resulting in a total of $227 million liquidated positions across the entire crypto market. Astonishingly, TRB was responsible for $73.93 million worth of liquidated positions, despite its relatively low market capitalization. Ethereum (ETH) and Bitcoin (BTC) followed closely behind, with $24.7 million and $22.74 million worth of liquidated positions respectively.
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This price volatility saw TRB lead the market in liquidations on both long and short positions. According to CoinGlass, the crypto market saw a total of $227 million liquidated positions in the past 24 hours, with TRB leading with $73.93 million, quite unusual for such a low market cap altcoin…
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TRB’s dominance in terms of liquidations raises eyebrows and concerns within the crypto community. Such a significant amount of liquidated positions associated with an altcoin of relatively low market capitalization is certainly unusual. It underscores the potentially detrimental impact that price manipulation can have on market participants, particularly those who were unable to foresee the rapid downturn and were left exposed.
Though the precise cause of the astonishing price spike remains unclear, the subsequent crash has been attributed to price manipulation allegedly carried out by the Tellor team. According to a post on X (formerly Twitter) by Lookonchain, the Tellor team deposited a substantial amount of TRB, specifically 4,211 tokens worth approximately $2.4 million, on Coinbase as the price skyrocketed.
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While the reason for the astounding price spike is unclear at the moment, the subsequent crash has been attributed to price manipulation from the Tellor team. According to a post on X (formerly Twitter) by Lookonchain, the Tellor team deposited 4,211 TRB worth approximately $2.4 million on Coinbase as the price skyrocketed…
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Allegations of price manipulation have emerged from Lookonchain, shedding light on the actions of the Tellor team during this tumultuous period. The deposit of such a significant quantity of TRB on Coinbase as the price skyrocketed implies a potential sell-off strategy orchestrated by the team itself. If these allegations hold true, it would serve as a reminder of the ethical concerns that plague certain sections of the crypto industry, further undermining trust and confidence in altcoins like TRB.
Tellor’s price history has been nothing short of tumultuous. The utility token for the Tellor decentralized oracle network started the year trading mostly below $15. However, come September, TRB began to exhibit a heightened level of volatility. The middle of September marked the beginning of a sustained price surge, culminating in a peak of $140 on November 9. From there, TRB experienced a price dip throughout November, ultimately settling at around $77.
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TRB kickstarted a sustained price surge in the middle of September that saw it reach $140 on November 9. After reaching this point, it went through a price dip throughout the month to the end of November at around $77…
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The erratic price movements of TRB throughout the past few months have been met with both excitement and trepidation by investors. The sustained price surge that began in September and culminated in the $140 peak on November 9 demonstrated the potential for significant gains. However, this was quickly followed by a month-long dip in price, leading to a more subdued valuation around $77. December brought about a notable shift in momentum, as TRB embarked on another upward trajectory, currently trading at $191, signifying a remarkable 143% increase within a 30-day timeframe.
The recent rollercoaster ride of Tellor’s price, accompanied by allegations of price manipulation, has left many investors shaken. The extreme volatility and liquidations observed within a short span of time emphasize the need for caution and thorough research when engaging in cryptocurrency investments. As the crypto market continues to evolve, it is essential for market participants to stay vigilant and informed to navigate the turbulent waters of this industry safely.