Million

Tellor

Gains

<p>Tellor (TRB) has been on a strong uptrend in recent months, with gains of more than 10% today, 78% in the last month, and close to 400% so far this year. However, according to a recent onchain analysis by crypto analytics firm <a href="https://twitter.com/lookonchain/status/1715251721528852709?t=nju9wlxElk12dLbmrzVhjA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>, some major Tellor (TRB) holders have accumulated large positions worth over $20 million and have unrealized profits exceeding $10 million. This massive whale activity could foreshadow an impending price crash if these investors decide to sell and take profits.</p>
<h2 class="wp-block-heading" id="whales-stockpile-over-13-of-trb-supply">Whales Stockpile Over 13% of TRB Supply</h2>
<p>Lookonchain points out that 7 prominent wallets on Binance have acquired a total of 332,712 TRB, valued at over $20 million, since September. This represents more than 13% of the total TRB supply in circulation. These whales have not sold any of their holdings yet.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="642" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-1024x642.png" alt="" class="wp-image-360259" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-1024x642.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-300x188.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-767x481.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-1536x963.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-2048x1284.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-239x150.png 239w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-558x350.png 558w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-519-788x494.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>One wallet alone holds 539,746 TRB worth nearly $34 million at current prices. This signifies over 21% of the total supply acquired at low prices earlier this year.</p>
<h2 class="wp-block-heading" id="over-10-million-in-unrealized-gains">Over $10 Million in Unrealized Gains</h2>
<p>According to Lookonchain’s analysis, these major holders are currently sitting on unrealized profits of more than $10 million with TRB up 550% since late August. The buying cost for the largest wallet was around $22 per TRB, indicating gigantic gains if sold at the current price of $62.</p>
<p>This presents a precarious situation where these whales could decide to take profits anytime and flood the market with TRB sales.</p>
<h2 class="wp-block-heading" id="imminent-price-crash-if-whales-dump">Imminent Price Crash if Whales Dump?</h2>
<p>Given the sheer scale of their holdings relative to the total supply and derivatives market liquidity, Lookonchain cautions that these whales dumping even a fraction of their portfolios could easily crash TRB’s price.</p>
<p>For investors and traders, this potential overhang signals caution, with TRB looking primed for a correction if the whales cash out. With onchain data revealing their massive positions and profits, the chance of an abrupt selling spree remains high.</p>
<p>In summary, Lookonchain’s latest onchain intelligence suggests whales pose a looming threat of dumping on Tellor’s price charts. Investors may want to exercise caution or even consider booking profits before the whales potentially pull the rug.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/whales-have-unrealized-profit-of-10m-on-trb-and-may-crash-the-market-soon-onchain-analysis/">Whales Have Unrealized Profit of $10M+ on Tellor (TRB) and May Crash the Market Soon – Onchain Analysis</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Whales Have Unrealized Profit of $10M+ on Tellor (TRB) and May Crash the Market Soon – Onchain Analysis

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