TRB Whale Initiates Large Transfer off of Binance: On-Chain Data

The on-chain tracking platform Lookonchain revealed noteworthy Tellor (TRB) whale activity through a series of X posts earlier today. Most recently, the platform shared that a new wallet withdrew 18,296 TRB, valued at $1.14 million, from Binance in the past few hours. This withdrawal took place after the altcoin’s price surged 550% since August 25, 2023.

In another post, Lookonchain shared that the wallet responsible for the latest withdrawal currently holds 539,746 TRB across 3 addresses. According to the platform, this accounts for about 21.26% of the altcoin’s supply, and is worth $33.88 million.

According to the post, this whale purchased TRB for around $22. Fast forward to today, and this whale’s profits currently stand at more than $14.5 million. As a result, Lookonchain cautioned traders that this whale may look to take a profit in the next few days.

Meanwhile, Lookonchain also mentioned that any traders looking to short TRB in the near term will want to pay attention to specific TRB whale addresses. The platform revealed that seven wallets, apart from the newly-created address, have accumulated a total of 332,712 TRB, which is worth $20.64 million and accounts for 13.11% of the total supply, from Binance since September.

Lookonchain added that these seven wallets have not sold their TRB yet. Subsequently, the platform warned that these wallets may dump their holdings at any time, given the fact that their collective TRB profits currently exceed $10 million.

At press time, CoinMarketCap indicated that TRB was trading hands at $63.71. This was after the cryptocurrency’s price increased 4.81% over the past 24 hours. The increase in price throughout the past 24 hours also boosted TRB’s weekly performance – elevating it to 34.54%.