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The recent altcoin sprees have made significant gains for crypto investors. In this respect, SpotOnChain, a famous on-chain analytics provider, has pointed out 8 whales that obtained massive gains with $TRB tokens. The platform disclosed on its X account that this event took place after the token saw a huge price spike.
8 whales have taken $3.56M in profits from $TRB after the price surged 100%+ in the past week!
— Spot On Chain (@spotonchain) May 12, 2024
These whales withdrew a total of 82,849 $TRB from #Coinbase at only ~$80.2 between early Mar and May, then deposited $TRB away at ~$123 (+53.6%), after around 2 months of holding.… pic.twitter.com/YHb09vmhS2
8 Whales See $3.5M in Gains Following a 100% Price Rise
In its recent post, SpotOnChain noted that the 8 giant investors leveraged the $TRB token to get profits. In line with the market statistics, the crypto coin went through a remarkable jump in terms of its price. As a result of this, TRB jumped by up to 100% in the previous week. The respective price rises played a significant role in increasing the benefits for the investors.
SpotOnChain brought to the front that the above-mentioned whales received enormous gains of up to $3.56 million. While providing details of the respective event, the platform disclosed the cumulative amount that the whales redeemed. SpotOnChain revealed that the crypto whales withdrew nearly 82,849 TRB tokens in total.
The Whales Get the Profit for Holding $TRB Tokens for Just 2 Months
According to the SpotOnChain data, they redeemed those tokens from the prominent crypto exchange Coinbase. The whales reportedly redeemed the tokens at an average value of up to $80.2. These withdrawals took place between the early days of March as well as May this year. Following the withdrawals, the whales made deposits with those tokens. At that point, the average value of 1 TRB was standing at approximately $123.
This figure shows a substantial jump in the price of the token in terms of percentage. In this respect, the token had elevated by more than 53.6%. The whales reportedly witnessed this price rise after holding the tokens for nearly a couple of months.