Ethereum

Tellor

<div class="dailyhodl">
 <p>An Ethereum (ETH)-based altcoin collapsed in value after the project’s team members moved thousands of tokens to the crypto exchange Coinbase, according to on-chain data.</p>
 <p>The blockchain data tracker Lookonchain says that the decentralized oracle protocol Tellor Tributes (TRB) went on a parabolic rally before a sudden massive correction, causing the liquidation of tens of millions of dollars.</p>
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 <p>Says Lookonchain,</p>
 <p><em>“In the past 24 hours, TRB soared to $600 [on December 31st] and then plummeted to $137, causing $68 million of assets to be liquidated, making it the most liquidated token.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCuz6o5aYAASF0U?format=jpg&amp;name=medium" alt="Image" width="1200" height="649">
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   Source: Lookonchain/X
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 <p>Lookonchain noticed Tellor team members moved thousands of TRB onto the top US exchange Coinbase after the price surge and right before the price collapse.</p>
 <p><em>“We noticed that the Tellor team deposited 4,211 TRB ($2.4 million) after the price of TRB skyrocketed.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GCuz6o1bAAACi_4?format=jpg&amp;name=medium" alt="Image" width="1200" height="592">
  <figcaption class="wp-caption-text">
   Source: Lookonchain/X
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 <p>TRB has since recovered some of its losses and is trading for $183.64 at time of writing, up about 18% in the last 24 hours.</p>
 <p>In November, crypto analytics firm Santiment noticed that deep-pocketed TRB holders were aggressively adding to their holdings. At that time, wealthy traders who owned between 1,000 to 100,000 TRB added 15% of the total supply to their holdings over a seven-week period for a total of 46% of the asset’s total supply. The buying spree came as TRB’s value jumped from under $15 in September to $134.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-based-altcoin-plummets-nearly-78-after-team-deposits-into-coinbase-on-chain-data-tbt75370.html">https://thebittimes.com/ethereum-based-altcoin-plummets-nearly-78-after-team-deposits-into-coinbase-on-chain-data-tbt75370.html</a></p>

Ethereum-Based Altcoin Plummets Nearly 78% After Team Deposits Into Coinbase: On-Chain Data

TheBitTimes

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