Whale Purchases $5,000,000 Tellor (TRB) Near 1-Year Highs – Does This Signal Confidence in More Upside?
Over the past few hours, a large cryptocurrency wallet labeled 0xc75 accumulated 42,742 TRB tokens worth $4.99 million from Binance, according to on-chain analyst Spot On Chain.
The purchases occurred at an average price of $116.8 per TRB token. This fresh whale activity is notable because TRB reached its 1-year high of $125 today.
“Fresh Whale 0xc75 accumulated 42,742 Tellor TRB ($4.99M) from Binance at an average price of $116.8 in the past 5 hours, SpotOnChain tweeted.
Tellor is a decentralized oracle network that provides real-world data to DeFi platforms. The TRB token allows holders to participate in governance votes and dispute processes.
This large accumulation from a single wallet often signals confidence in further upside for an asset. The buyer likely expects TRB to continue rallying to new highs.
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On-chain data can provide unique insights for crypto investors. Tracking the transactions of major players like this whale can help determine sentiment and forecast price trends.
The timing of this purchase right as TRB hit 1-year highs is especially noteworthy. Spot On Chain will likely continue monitoring the wallet to see if further accumulation occurs. Sustained buying interest from whales can indicate a promising outlook for smaller retail TRB holders as well.
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