Recently, Tellor’s TRB token has captured significant attention within the crypto community as large holders continue to orchestrate massive transactions. A comprehensive analysis by Lookonchain, a prominent web3 analytics platform, has unveiled a noteworthy trend of newly created wallets accumulating and withdrawing substantial amounts of TRB from exchanges, particularly Binance.
According to the data, a total of 22 freshly minted wallets have managed to accumulate nearly 50% of the entire TRB token supply since August 25, all at an average price of $42 per token.
These newly created wallets have since embarked on a withdrawal spree from exchanges, moving a staggering 1,185,269 TRB tokens, valued at $111.4 million. This impressive maneuver accounts for 46.7% of the total circulating TRB supply.
Impressively, Lookonchain’s report indicates that these wallets collectively enjoy unrealized profits of approximately $61.5 million from their strategic activities.
In recent days, Lookonchain has meticulously documented the continuous accumulation of TRB by these influential wallets in a series of informative posts. On October 22, a fresh wallet reportedly executed a withdrawal of 18,296 TRB tokens, worth an impressive $1.14 million, from Binance.
In a subsequent post on the very same day, Lookonchain disclosed that a group of seven wallets, responsible for withdrawing over $20 million in TRB tokens, have collectively realized profits of $10 million since their initial token acquisition in September.
While the price of TRB has experienced substantial upward momentum due to the strategic accumulation by these large holders, the broader cryptocurrency community remains abuzz with speculation about potential market volatility.
At the time of this report, TRB boasts a market capitalization of $253,044,205 and is currently trading at $102.19 per token. These numbers underscore TRB’s current bullish trend, with a remarkable one-day increase of 21.81%, a seven-day surge of 80.41%, and an astonishing 30-day gain of 189.53%.