Look on chain, a blockchain data analysis platform, has reported significant activity involving Tellor’s TRB tokens. Since August 25, a total of 22 wallets have withdrawn a substantial amount of TRB tokens, totaling 1,185,269 TRB, which is valued at $111.4 million.
Notably, the combined holdings of these wallets now make up 46.7% of all TRB tokens currently in circulation.
Recently, Tellor’s TRB token has been in the spotlight as large holders have been involved in substantial transactions. Lookonchain, a prominent blockchain analysis platform, reported that newly created wallets have amassed and withdrawn a significant amount of TRB from various exchanges. This activity began on August 25, and 22 of these wallets have accumulated almost 50% of the total TRB supply, with an average purchase price of $42.
Fresh Wallet withdrew $TRB from #Binance again.
Since Aug 25, a total of 22 fresh wallets have accumulated 1,185,269 $TRB ($111.4M, 46.7% of. the total supply) from exchanges at an average price of $42.
These wallets have an unrealized profit of $61.5M at current prices. pic.twitter.com/HlGnuyt92d
— Lookonchain (@lookonchain) October 25, 2023
Subsequently, they withdrew 1,185,269 TRB tokens worth $111.4 million from these exchanges, making up 46.7% of the total circulating TRB supply. The collective unrealized profits for these wallets are now valued at $61.5 million.
Over the past few days, Lookonchain has documented the accumulation of TRB by these wallets in a series of posts. For instance, on October 22, a new wallet withdrew 18,296 TRB tokens valued at $1.14 million from Binance. In another post the same day, Lookonchain mentioned that seven wallets, responsible for withdrawing over $20 million in TRB tokens, had made a profit of $10 million since acquiring the tokens in September.
While TRB has seen a significant price increase due to the accumulation by large holders, there is speculation about potential market volatility. Currently, TRB has a market capitalization of $253,044,205 and is trading at $102.19. Its current price reflects a bullish trend, with a 21.81% increase in one day, an 80.41% rise in seven days, and a substantial 189.53% surge in 30 days.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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