- TRB’s rally to $131 signals strong investor confidence, potentially reshaping its market rank.
- Accumulation by holders and whale activity fuel TRB’s bullish trend, despite overbought concerns.
- With a $321M cap and $62M volume, TRB shows resilience and market presence growth.
In the dynamic world of cryptocurrency, Tellor (TRB) stands out with its impressive rally, propelling the asset to a zenith of $131 and closely approaching its all-time high from May 2021. The cryptocurrency has seen an astonishing surge of over 1,000% in the past three months.
As pointed out by Santiment, a prominent crypto research platform, TRB ranks 112th in market cap, boasting a significant consolidation of 15% of its supply by holders of 1K to 100K TRB within just seven weeks. This accumulation mirrors the growing confidence among substantial investors.
📈 #Tellor continues to be a force in #crypto, jumping as high as $131 today and nearing its May, 2021 #AllTimeHigh. The asset is +1,025% in 3 months, now 112th in market cap rank, and key 1K-100K $TRB wallets have accumulated 15% of the supply in 7 weeks. https://t.co/ZZLpZC2LE1 pic.twitter.com/FvEGd1KjQh— Santiment (@santimentfeed) November 7, 2023
The bullish trend for Tellor is further evidenced by its 12-month peak at $126.26, supported strongly at the $115 level, indicating a robust foundation for continued advancement. Fueling this upward trajectory is notable whale activity, with one such investor netting close to $5 million in a matter of hours, a testament to the potent market optimism surrounding TRB.
Nevertheless, every rise prompts scrutiny, and TRBUSD is no exception, now showing signs that suggest a forthcoming correction. The asset’s overbought state, alongside looming resistance levels, could signal an impending downturn.
Despite the early trading hours seeing a dip to $111.78 from $117.06, there was a swift recovery. This hinted at strong purchasing interest around the $115 mark, which could solidify the bulls’ position for a prolonged rally.
The resilience of the bulls is apparent as they successfully propelled the TRB price to a significant high, emphasizing the market’s bullish sentiment. At the time of writing, the price of Tellor Tributes (TRB) hovers at $128.34 with a trading volume of over $62 million in the last 24 hours.
This marks a 0.70% increase on the day and a substantial 15.39% climb over the week. With a circulating supply of 2.5 million TRB, the market capitalization of Tellor Tributes is valued at an impressive $321 million, underscoring its growing market presence.
The amalgamation of enthusiastic accumulation by key wallet holders, substantial whale transactions, and consistent market performance paints a promising picture for Tellor’s future in the crypto landscape. As the digital currency market continues to evolve, TRB’s robust performance and the community’s confidence hint at its potential to redefine its standing in the crypto rankings.