Crypto Whale Withdraws $116,000,000 Worth of One Altcoin That’s Up 222% in Past Month From Exchanges: Report - The Daily Hodl

The Daily Hodl
The Daily Hodl

18 Sep 2023 11:45 AM

A wealthy altcoin holder just withdrew nine figures worth of an Ethereum (ETH)-based crypto asset from exchanges right after parabolic rallies. ...

  • A whale holding 21% of the supply of Tellor Tributes (TRB) withdrew approximately $116 million worth of TRB tokens from exchanges.
  • The whale conducted three transfers of 100,000 TRB tokens to Binance on September 4th, 9th, and 15th.
  • The whale still holds 540,000 TRB, accounting for 21.4% of the circulating supply.
  • TRB is the native token for Tellor, a decentralized oracle network that connects Ethereum smart contracts to external data.
  • The whale's actions may be an attempt to control most of the liquid TRB tokens to generate high funding rates and receive income from open futures contracts.
  • TRB's price has risen by 222% in the last 30 days.

The sentiment of the article is neutral. It provides factual information about a whale withdrawing a significant amount of TRB tokens and speculates on their motives.

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You May Ask

What cryptocurrency did the whale withdraw from exchanges?How much was the approximate value of the withdrawn tokens?What percentage of the circulating supply does the whale still hold?What is the purpose of Tellor's native token, TRB?Why might the whale be withdrawing and holding TRB tokens?

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