Massive Pumps and Dumps Happened in Tellor (TRB) Price, Over 60 Million Dollars Was Liquidated
In the last few hours, Tellor (TRB) price witnessed a massive pump-and-dump rally to $600 and then promptly crashed below $150.
TRB Price Action
TRB price has experienced significant fluctuations in today’s market activity; It rose from $200 to over $600, but dropped sharply to $155. During this period, TRB’s contract liquidation reached an unprecedented amount, exceeding $60 million.
This significant liquidation positions TRB as the cryptocurrency with the highest liquidation figure in both the last 12 hours and 24 hours. The volatility in TRB’s price and the resulting liquidation activity has captured the attention of market participants, highlighting the challenges and opportunities in the current crypto environment.
In the last quarter of 2024, TRB price witnessed a massive bull run, rising 2000% amidst strong whale activity. However, the current development makes it clear that TRB has suffered a major decline from the big players.
As Tellor’s price increased dramatically, concerns about potential market manipulation emerged among analysts. In particular, the crypto analyst of the Cilinix Crypto YouTube channel pointed out significant fluctuations in the price of Tellor.
In a video dated December 22, the analyst highlighted the token’s remarkable rise from $10 to $140 and the rapid rises and falls that followed. These fluctuations have led some analysts to be cautious, suggesting that Tellor’s recent price movements could be indicative of potential market manipulation.
About the Tellor Tribute Protocol
In the ever-evolving blockchain technology environment, Tellor stands out as a decentralized oracle protocol and plays an important role in updating off-chain data required for on-chain smart contracts.
At the heart of the blockchain infrastructure, oracles like Tellor make it easy to seamlessly integrate valuable external data into smart contracts. Tellor’s oracle works by providing data that can be actively requested, verified, and seamlessly introduced into the chain without needing permission.
This process involves data journalists seeking incentives in the form of TRB tokens, encouraging healthy competition and ensuring the availability of valuable information for various decentralized finance (DeFi) applications.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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