2024

Tellor

Tellor (TRB) went on a rollercoaster in the past 24 hours, with its price experiencing a surge and a drop that is comparable to that of price manipulation. As a result, the crypto surged to over $600 in the late hours of 2023 before crashing down to $137.&nbsp; 
According to data from CoinGlass, TRB witnessed more liquidated positions than any other crypto within this time period, with whales exiting both long and short positions amidst rumors of manipulation. 
<blockquote class="twitter-tweet"> 
 Wow <a href="https://twitter.com/search?q=%24TRB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TRB</a> <a href="https://t.co/TgYqWNtC0u" rel="nofollow">pic.twitter.com/TgYqWNtC0u</a> 
 — Tony “The Bull” (@tonythebullBTC) <a href="https://twitter.com/tonythebullBTC/status/1741592801492554187?ref_src=twsrc%5Etfw" rel="nofollow">December 31, 2023</a>
</blockquote> 
<h2 id="trb-price-action-and-liquidation">TRB Price Action And Liquidation</h2> 
TRB has been on a steady price increase since the beginning of the month. This increase was particularly exacerbated on December 31, pushing the crypto to a new all-time high of $602, and a 1000% increase in trading volume, according to Coinmarketcap data. However, this price surge failed to last more than a few hours, as TRB plummeted to $139. 
This price volatility saw TRB lead the market in liquidations on both long and short positions. According to CoinGlass, the crypto market saw a total of $227 million liquidated positions in the past 24 hours, with TRB leading with $73.93 million, quite unusual for such a low market cap altcoin. <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-could-start-2024-bang/">ETH </a>and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-starts-2024-range/">BTC </a>followed with $24.7 million and $22.74 million worth of liquidated positions.&nbsp; 
While the reason for the astounding price spike is unclear at the moment, the subsequent crash has been attributed to price manipulation from the Tellor team. According to a post on X (formerly Twitter) by Lookonchain, the Tellor team deposited 4,211 TRB worth approximately $2.4 million on Coinbase as the price skyrocketed.&nbsp; 
<blockquote class="twitter-tweet"> 
 In the past 24 hours, <a href="https://twitter.com/search?q=%24TRB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TRB</a> soared to $600 and then plummeted to $137, causing $68M of assets to be liquidated, making it the most liquidated token. 
 We noticed that the <a href="https://twitter.com/hashtag/Tellor?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Tellor</a> team deposited 4,211 <a href="https://twitter.com/search?q=%24TRB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TRB</a>($2.4M) after the price of <a href="https://twitter.com/search?q=%24TRB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$TRB</a> skyrocketed. 
 Address:<a href="https://t.co/efHPXCiMiG" rel="nofollow">https://t.co/efHPXCiMiG</a> <a href="https://t.co/IBty2Wf2gI" rel="nofollow">pic.twitter.com/IBty2Wf2gI</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1741683830854164578?ref_src=twsrc%5Etfw" rel="nofollow">January 1, 2024</a>
</blockquote> 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/pnfkhK19/" alt="Tellor TRB price chart from Tradingview.com (Altcoins)" width="3266" height="1530"> 
<a href="https://www.newsbtc.com/altcoin/immutable-imx-up-by-23-in-a-single-day-analyst-suspects-market-manipulation/">Price manipulation</a> is certainly <a href="https://www.newsbtc.com/crypto/coinbase-binance-crypto-price-manipulation/">not a new phenomenon</a> in the crypto industry, especially among low market-cap altcoins. The transfer into Coinbase has got investors wondering about a selloff from the team, as TRB crashed in the hours after. Nonetheless, this remains a speculation at this point. 
TRB is the utility token for Tellor, a decentralized oracle network that provides real-world data to blockchain-based smart contracts. TRB mostly traded below $15 for the majority of the year. Things started to <a href="https://www.newsbtc.com/news/tellor-trb-surging-outpaces-bitcoin-xrp/">get hot in September</a> as the cryptocurrency started to exhibit a very high level of volatility at this point. TRB kickstarted a sustained price surge in the middle of September that saw it reach $140 on November 9. After reaching this point, it went through a price dip throughout the month to the end of November at around $77.&nbsp;&nbsp; 
December saw a change in momentum, with price action indicating a steady surge since the beginning of the month. At the time of writing, TRB is trading at $191, still up by 143% in a 30-day timeframe.

Tellor (TRB) Leaves Market In Shock With 75% Price Crash, Here’s What Happened

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