The whale allegedly wiped out both long and short positions in TRB, causing the token price to plummet from $600 to $135 in a matter of hours.
On January 1, Teller’s native token, TRB, suffered a staggering 70% drop from its all-time high of $600 on that day, according to data from CoinGecko. Market turmoil ensued after whales significantly liquidated both long and short positions. report By cryptocurrency tracking service Spot On Chain.
In the last 24 hours, CoinGlass recorded The total liquidation amount was $233 million, with TRB accounting for more than $73 million.
Notably, HTX (formerly Huobi) has emerged as the largest dumper of TRB positions as of December 31, with over $15 million of TRB shorts open on the exchange. OKX and Binance followed with $12.1 million and $6.69 million, respectively. Spot on-chain suggested this dramatic price movement could indicate market manipulation, and while on-chain activity remained low during the pump-and-dump scheme, TRB pointed out that whales controlled most of the liquidity.
As of this writing, Terror Team has not released any official statement regarding this matter.
Founded in 2019, Teller is a decentralized oracle network built on the Ethereum blockchain that aims to provide a decentralized alternative for capturing real-world data that can be used in smart contracts. . The Teller network incentivizes participants, known as miners, to submit and verify data through a process that involves staking her TRB, the project’s token.
