Following whale accumulation of TRB last week, a wallet address has deposited a substantial 17,534 TRB tokens to Binance at a rate of $76.75.
When wallets move assets to a centralised exchanges, such as Binance, this typically indicates a potential sell-off.
If indeed these tokens were bought and subsequently sold, our wallet stands to potentially gain $657,000, which represents a 95.5% profit in just one month.
This particular wallet had earlier acquired TRB at the price of $39.26 on September 20.
As of time of publishing, the price of TRB is close to the $78 mark, an at least 100% increase from the wallet’s purchase price.
This wallet is among the 15 early TRB whales who managed to accumulate their holdings before the recent price surge.
Back then, the wallets collectively amassed a total of 1.444 million TRB, amounting to $39.6 million.
The average acquisition price for these early investors was $27.4.
One particular wallet, identified as the BitForex deposit wallet by Spotonchain, currently holds 539,746 TRB, which is valued at $33.88 million and accounts for 21.26% of the total token supply.
These acquisitions were made from both Binance and OKX during the specified period.
A fresh wallet recently withdrew a substantial 18,296 TRB, equivalent to $1.14 million, from Binance.
The price of TRB has experienced an increase of 550% since August 25.
In the past day, a total of five new whale addresses have collectively accumulated 141,328 TRB, valued at $9.48 million.
The average price of acquisition for these new whales was $67.04.
TRB, often referred to as “Tributes,” is the native token of Tellor, a decentralised oracle protocol designed to enable smart contracts to securely access external data.
Oracles facilitate the integration of real-world data into on-chain smart contracts.
Tellor’s core mission is to provide a solution to the challenges associated with oracles, enabling smart contracts to seamlessly interact with on-chain data.
Tellor, headquartered in the United States, was co-founded in 2019 by Brenda Loya, Michael Zemrose, and Nicholas Fett.
Brenda Loya, the CEO, previously served as an economist for the US government.