Over the course of the last week, the $TRB market has encountered significant turbulence, with its price plunging by more than 33%. This sudden drop has been connected to large-scale sell-offs orchestrated by whales seeking to capitalize on profits. In the last seven days, $TRB tumbled from $143 to its presently trading price of $81.
Massive Profits From These Two Wallets
LookOnChain, a notable blockchain analytics platform, sheds light on the actions of key wallets during this period. One wallet, recognized as “0x1d,” executed a strategic move by withdrawing 72,240 $TRB (equal to $6.14 million) from Binance at $94 and depositing it at $107, returning a handsome profit of $955,000. Another wallet, “0x8f,” took part in a more significant move, withdrawing 65,724 $TRB ($5.6 million) at $35 and depositing it at $104, resulting in an impressive $4.5 million profit.
Nonetheless, not all transactions demonstrated successful gains. An address marked “0xc7” withdrew 94,136 $TRB ($8 million) from Binance at $138 but deposited it at $95, causing a substantial loss of $4 million.
20 Wallets Still Hold $TRB Without Selling
According to LookOnChain’s data, 20 wallets presently hold $TRB without selling, amassing a sum of 1.08 million $TRB, valued at $92.87 million or 42.5% of the total supply. The cumulative profit from these transactions is estimated at $47 million, with 14 addresses confirming gains based on the present price.
Despite the profitability of these transactions, numerous traders are taking on short positions on $TRB as the token attempts to break its new descending trend. The question arises: will the whales keep up with their positions in anticipation of a more optimistic market sentiment?
The market’s trajectory depends on various factors, including outer influences, investor sentiment, and macroeconomic conditions. As traders closely monitor these developments, the actions of these influential wallets will without a doubt assume an urgent part in shaping the fate of $TRB.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.