tl;dr
In a short period, the Tellor (TRB) price experienced significant fluctuations, surging from $200 to surpass $600, then sharply declining to $155, resulting in a contract liquidation exceeding $60 million. Concerns about potential market manipulation have surfaced among analysts, and Tellor is a dec...
In a short period, the Tellor (TRB) price experienced significant fluctuations, surging from $200 to surpass $600, then sharply declining to $155, resulting in a contract liquidation exceeding $60 million. Concerns about potential market manipulation have surfaced among analysts, and Tellor is a decentralized oracle protocol that updates off-chain data for on-chain smart contracts.
Over the last few hours, the Tellor (TRB) price has witnessed a massive pump-and-dump rallying all the way to $600 and then crashing under $150 instantly.
TRB PRICE ACTION
In today’s market activity, the price of TRB experienced significant fluctuations, surging from $200 to surpass $600, only to see a sharp decline to $155. Notably, the TRB contract liquidation during this period reached an unprecedented amount, exceeding $60 million.
This substantial liquidation positions TRB as the cryptocurrency with the highest liquidation figure in both the past 12 hours and 24 hours. The volatility in TRB’s price and the resulting liquidation activity have captured the attention of market participants, highlighting the challenges and opportunities in the current crypto landscape.
During the last quarter of 2024, the TRB price witnessed a massive bull run gaining 2000% amid strong whale activity. However, the current development makes it clear that TRB is experiencing a massive dump from big players.
As Tellor undergoes a dramatic surge in its price, concerns regarding potential market manipulation have surfaced among analysts. Notably, the Cilinix Crypto YouTube channel’s crypto analyst pointed out substantial fluctuations in Tellor’s price.
ABOUT THE TELLOR TRIBUTES PROTOCOL
In the ever-evolving landscape of blockchain technology, Tellor stands out as a decentralized oracle protocol, playing a crucial role in updating essential off-chain data for on-chain smart contracts.
At the heart of blockchain infrastructure, oracles like Tellor facilitate the seamless integration of valuable external data into smart contracts. Tellor’s oracle operates by providing data that can be actively requested, validated, and seamlessly incorporated on-chain without the need for permission.
This process involves data reporters vying for incentives in the form of TRB tokens, fostering healthy competition and ensuring the availability of valuable information for a diverse array of decentralized finance (DeFi) applications
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.