A mysterious whale manipulating the Tellor (TRB) altcoin price deposited 100,000 TRB to Binance.
The whale, whose short address is 0xCcE, currently holds 440,908 TRB in three wallets, accounting for 18% of the total TRB supply. According to some analysts, this whale is responsible for the recent surge in TRB, which caused the price to rise from $18 to over $38 in less than two weeks.
The whale's strategy appears to be to accumulate TRB from Binance and OKX, another major exchange, at a low price and then deposit it back to Binance at a higher price, generating artificial demand and driving up the price.
However, DWF Labs founder Andrei Grachev has been making posts that may affect the TRB price lately. Although Grachev does not name the token, he regularly points out the TRB token on Twitter due to funding rate anomalies.
Between August 30 and September 13, Whale accumulated a total of 772,733 TRB (i.e. 31.6% of the total supply) from Binance and OKX at an average price of $18.51 ($14.3 million total).
Whale then deposited 331,825 TRB to Binance at an average price of 21.85 USD (total of 7.25 million USD). The estimated profit from this strategy is $1.11 million.
Whale currently holds 440,908 TRBs, which are worth $13.8 million at the current price of $38.16. His unrealized profit from holding this amount of TRB is $5.61 million.
*This is not investment advice.
