Tellor (TRB) Goes on a Wild Ride: 150% Plump, Price Surge, Market Manipulation Allegations

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The post Tellor (TRB) Goes on a Wild Ride: 150% Plump, Price Surge, Market Manipulation Allegations appeared first on Coinpedia Fintech News

Price Surge and Crash

The surge in TRB’s price was particularly intense on December 31, with trading volume skyrocketing by over 1,000%. However, this price spike was short-lived, as the crypto plunged precipitously soon after. The sudden drop in value has sparked speculation that the Tellor team may have been involved in manipulating the price of TRB.

Market Manipulation Allegations

According to the post on X by LookonChain, the Tellor team deposited a staggering 4,211 TRB worth approximately $2.4 million on Coinbase as the price skyrocketed. This deposit occurred after the price of TRB had already surged significantly, leading some to suspect that the Tellor team may have been manipulating the market.

In the past 24 hours, $TRB soared to $600 and then plummeted to $137, causing $68M of assets to be liquidated, making it the most liquidated token.

We noticed that the #Tellor team deposited 4,211 $TRB($2.4M) after the price of $TRB skyrocketed.

Address:https://t.co/efHPXCiMiG pic.twitter.com/IBty2Wf2gI

— Lookonchain (@lookonchain) January 1, 2024

The subsequent crash caused $68 million worth of assets to be liquidated, making TRB the most liquidated token in the past 24 hours. While the reason for the initial surge is unclear, the sudden drop in value has raised among investors.

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