TRB Surges Amidst Massive Withdrawals Nearing 50% of Total Supply

• Lookonchain reported fresh wallets’ massive withdrawal of Tellor’s TRB tokens.
• Since August 25, a total of 22 wallets have accumulated 1,185,269 TRB, worth $111.4 million.
• The current holdings of these wallets constitute 46.7% of the total TRB tokens in circulation.

Tellor’s TRB token has drawn attention recently as whales continue to move it around in massive transactions. Lookonchain, a leading web3 analysis platform, recently revealed that newly created wallets have accumulated and withdrawn an enormous amount of TRB from Binance and other exchanges. According to the data, a total of 22 fresh wallets have accumulated nearly 50% of the total supply of TRB tokens since August 25, at an average price of $42.

They have since withdrawn from exchanges 1,185,269 TRB worth $111.4 million, constituting 46.7% of the total circulating supply. Lookonchain reported that the wallets collective unrealized profits from this activity now sit at $61.5 million.

Over the past few days, Lookonchain has documented the accumulation of TRB by these wallets in a series of X posts. On October 22, a fresh wallet reportedly withdrew 18,296 TRB tokens worth $1.14 million from Binance. In a subsequent post on the same day, Lookonchain claimed that seven wallets responsible for the withdrawal of over $20 million in TRB tokens had gained a profit of $10 million since acquiring the tokens in September.

While TRB has seen a substantial surge in its price amid the accumulation by whales, the crypto community is speculating on extreme market volatility. At press time, TRB has a market cap of $253,044,205 and is changing hands at $102.19. TRB’s current price is demonstrative of a bullish trend, enjoying a hike of 21.81% in one day, 80.41% in seven days, and 189.53% in 30 days.