Tellor's TRB Token Price Soars 250% in 24 Hours, Only to Tumble 70% Since Peak
The TRB token of Tellor experienced a surge of over 250% in just 24 hours on Saturday due to an illiquid market and overleveraged trading positions. However, the cryptocurrency fell by 70% since reaching its lifetime peak on Sunday. TRB is the native cryptocurrency of Tellor, which is an oracle protocol that fetches and shares data among different networks using blockchain-based tools. The price volatility caused nearly $40 million worth of shorts and $17 million in longs to be liquidated, with a wallet linked to Tellor's development team potentially contributing to the price fall by transferring $2.4 million worth of tokens to Coinbase. Despite the meltdown, TRB is still up more than 1,000% on a yearly basis and is one of the top-performing bets of last year alongside Solana's SOL and Ethereum ecosystem tokens.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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