Tellor (TRB) went on a rollercoaster in the past 24 hours, with its price experiencing a surge and a drop that is comparable to that of price manipulation. As a result, the crypto surged to over $600 in the late hours of 2023 before crashing down to $137.\u00a0<\/p>\n
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.<\/p>\n
Wow $TRB<\/a> pic.twitter.com\/TgYqWNtC0u<\/a><\/p>\n \u2014 Tony \u201cThe Bull\u201d (@tonythebullBTC) December 31, 2023<\/a><\/p>\n 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, and a 1000% increase in trading volume, according to Coinmarketcap data. However, this price surge failed to last more than a few hours, as TRB plummeted to $139.<\/p>\n 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. ETH <\/a>and BTC <\/a>followed with $24.7 million and $22.74 million worth of liquidated positions.\u00a0<\/p>\n 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.\u00a0<\/p>\n In the past 24 hours, $TRB<\/a> soared to $600 and then plummeted to $137, causing $68M of assets to be liquidated, making it the most liquidated token.<\/p>\n We noticed that the #Tellor<\/a> team deposited 4,211 $TRB<\/a>($2.4M) after the price of $TRB<\/a> skyrocketed.<\/p>\n Address:https:\/\/t.co\/efHPXCiMiG<\/a> pic.twitter.com\/IBty2Wf2gI<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) January 1, 2024<\/a><\/p>\n\n Price manipulation<\/a> is certainly not a new phenomenon<\/a> in the crypto industry, especially among low market-cap altcoins. The transfer into Coinbase has got investors wondering about a selloff from the team, as TRB crashed in the hours after. Nonetheless, this remains a speculation at this point.<\/p>\n TRB is the utility token for Tellor, a decentralized oracle network that provides real-world data to blockchain-based smart contracts. TRB mostly traded below $15 for the majority of the year. Things started to get hot in September<\/a> as the cryptocurrency started to exhibit a very high level of volatility at this point. 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.\u00a0\u00a0<\/p>\n December saw a change in momentum, with price action indicating a steady surge since the beginning of the month. At the time of writing, TRB is trading at $191, still up by 143% in a 30-day timeframe.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Tellor (TRB) went on a rollercoaster in the past 24 hours, with its price experiencing a surge and a drop that is comparable to that of price manipulation. As a result, the crypto surged to over $600 in the late hours of 2023 before crashing down to $137.\u00a0<\/p>\n 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.<\/p>\n Wow $TRB<\/a> pic.twitter.com\/TgYqWNtC0u<\/a><\/p>\n \u2014 Tony \u201cThe Bull\u201d (@tonythebullBTC) December 31, 2023<\/a><\/p>\n 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, and a 1000% increase in trading volume, according to Coinmarketcap data. However, this price surge failed to last more than a few hours, as TRB plummeted to $139.<\/p>\n 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. ETH <\/a>and BTC <\/a>followed with $24.7 million and $22.74 million worth of liquidated positions.\u00a0<\/p>\n 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.\u00a0<\/p>\n In the past 24 hours, $TRB<\/a> soared to $600 and then plummeted to $137, causing $68M of assets to be liquidated, making it the most liquidated token.<\/p>\n We noticed that the #Tellor<\/a> team deposited 4,211 $TRB<\/a>($2.4M) after the price of $TRB<\/a> skyrocketed.<\/p>\n Address:https:\/\/t.co\/efHPXCiMiG<\/a> pic.twitter.com\/IBty2Wf2gI<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) January 1, 2024<\/a><\/p>\n Price manipulation<\/a> is certainly not a new phenomenon<\/a> in the crypto industry, especially among low market-cap altcoins. The transfer into Coinbase has got investors wondering about a selloff from the team, as TRB crashed in the hours after. Nonetheless, this remains a speculation at this point.<\/p>\nTRB Price Action And Liquidation<\/h2>\n
TRB Price Action And Liquidation<\/h2>\n