Tellor, the decentralized oracle protocol, remains a top trending coin on CoinMarketCap despite experiencing another significant drop in value over the past 24 hours. This protocol is known for its ability to integrate off-chain data into on-chain smart contracts.
As of now, Tellor (TRB) is trading at $181.82 with a 24-hour trading volume of $565,750,139. Despite the recent price decline, the token has seen an impressive 1,376% growth over the course of the year.
Recent news surrounding Tellor’s trading activity has raised questions within the community. On Jan. 1, Etherscan data revealed an unusual transfer of 4,211 TRB, valued at approximately $2.4 million, from the Tellor team to a Coinbase wallet. This transfer coincided with a spike in the token’s price, leading to liquidations exceeding $68 million, as reported by CoinGlass and verified by Lookonchain.
On Dec. 28, Tellor reached a new all-time high of $225 before experiencing a sharp decline. On-chain data analytics firms such as Spot On Chain have pointed out that a small group of whales may be controlling the total supply of tokens, sparking concerns of market manipulation.
Community members have taken to social media to express their concerns about Tellor’s trading activity and potential manipulation of the market. Despite these issues, Tellor remains a popular choice among cryptocurrency traders and investors.
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