A noticeable trend in the world of cryptocurrency involves fresh wallets accumulating substantial amounts of Tellor (TRB) from various exchanges since August 25. This activity has resulted in these wallets collectively amassing an impressive 1,185,269 TRB, equivalent to $111.4 million. Notably, this accumulation has accounted for 46.7% of TRB’s total supply.
Fresh Wallet withdrew $TRB from #Binance again.
Since Aug 25, a total of 22 fresh wallets have accumulated 1,185,269 $TRB ($111.4M, 46.7% of. the total supply) from exchanges at an average price of $42.
These wallets have an unrealized profit of $61.5M at current prices. pic.twitter.com/HlGnuyt92d
— Lookonchain (@lookonchain) October 25, 2023
The average purchase price of TRB by these wallets was $42, a decision that has proven to be quite lucrative. The current market value of these holdings provides these wallets with an unrealized profit of $61.5 million, a testament to the recent growth in the TRB market.
One of the key takeaways from this development is the enthusiasm and confidence these fresh wallets have in Tellor. Their collective investment strategy indicates a long-term commitment to the project, as they appear to have no immediate plans to sell their holdings. This level of conviction in TRB could be attributed to several factors, such as the project’s fundamentals, technological advancements, or anticipated market performance.
Tellor is a decentralized oracle network designed to provide secure and reliable data feeds for smart contracts on the Ethereum blockchain. The growing interest from these fresh wallets is a positive sign for the TRB community, indicating that investors see value in holding this cryptocurrency.
Final Thoughts
This accumulation trend in TRB demonstrates that even amidst market volatility, some investors maintain a long-term perspective and believe in the potential of certain cryptocurrencies. As the cryptocurrency landscape continues to evolve, it’s essential to keep an eye on similar instances of accumulation as they may offer insights into market sentiment and the potential for future growth in specific projects.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
Image Source: loft39studio//23RF// Image Effects by Colorcinch
