Massive Pump and Dumps Happen in Tellor (TRB) Price, Over $60 Million Liquidated

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.

In a video dated December 22, the analyst highlighted the token’s noteworthy ascent from $10 to $140, coupled with subsequent rapid increases and declines. These fluctuations have led some analysts to express caution, suggesting that they could be indicative of potential market manipulation in Tellor’s recent price movements.

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

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.