Sunday, December 22, 2024

Tellor Accused Of TRB Market Manipulation After Violent Pump and Dump

On-chain analytics supplier flagged $2.4M TRB deposit from Tellor staff after the token’s worth tripled

The staff behind Tellor, a protocol offering oracles for good contracts, is going through market manipulation accusations after the value of its TRB token soared 172% in a day earlier than the positive aspects have been worn out inside a single hour on Dec. 31.

Knowledge from TradingView exhibits the value of Tellor Tributes (TRB) spiking from $231 to $630 over eight hours on Dec. 31. After a interval of consolidation, TRB’s worth evaporated from $611 to $195 over lower than one hour. The token later tagged a low of $120 and final modified fingers for $184.

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TRB/USDT. Supply: TradingView.

On Dec. 29, Spot On Chain, an on-chain information supplier, flagged that TRB had tagged an all-time excessive of $225, noting {that a} small group of whales held an outsized share of the token’s provide.