Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Ethereum-hosted Tellor pump and dump liquidates $73 million
ALTCOIN NEWS

Ethereum-hosted Tellor pump and dump liquidates $73 million

By Crypto FlexsJanuary 1, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum-hosted Tellor pump and dump liquidates  million
Share
Facebook Twitter LinkedIn Pinterest Email

  • teaRB hit a new 52-week high, but then saw a massive sell-off.
  • Open interest increased as traders took short positions.

Market participants who tried to take advantage of the rise in Teller (TRB) prices received a big shock as 2023 ended.

On December 31, TRB price rose to $600. During the rally, some traders wanted to have a piece of the cake.

However, the price of TRB plummeted shortly thereafter. The dump resulted in a $73 million liquidation. Coinglass had the highest wipeout of any cryptocurrency contract in the last 24 hours.

Cryptocurrency Liquidation Heatmap for Tellor (TRB)

Source: Coinglass

Hold the Tellor team accountable

At press time, the price of TRB was $198.35, indicating that the token is trending upward again. The Tellor project is not as popular as other coins on the market. At the time of this writing, its market capitalization ranking was 124th.

Basically, we discovered that AMBCrypto is built on top of the Ethereum (ETH) blockchain. It also serves as an infrastructure to make off-chain data available to smart contracts.

However, it seems that the Teller team was not only interested in the utility of the project.

This was due to Lookonchain’s recent revelations. According to Lookonchain, the pumping and dumping of tokens could be a case of manipulation by the Tellor team.

Smart Money Handle posted that the team had deposited $2.4 million TRB shortly after the price started to rise.

In the last 24 hours, $TRB It soared to $600 and then plummeted to $137, liquidating $68M in assets, making it the most liquidated token.

we are #teller Team deposit 4,211 $TRB($2.4 million) After price $TRB It soared.

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

— Lookonchain (@lookonchain) January 1, 2024

Therefore, it is likely that the team was also involved in dumping tokens and causing distress to retail traders.

Shorts plan to thrive…

Additionally, open interest on TRB increased to $423.24 million. Open interest is the value of derivative contracts outstanding in futures trading.

An increase in open interest (OI) means new funds have entered the market. On the other hand, a decreasing OI means traders are closing positions and draining liquidity.

Therefore, the spike in 8-hour open interest suggests that there were some traders with outstanding TRB contracts.

TRB Open InterestTRB Open Interest

Source: Santiment


Is your portfolio green? Check out the TRB Profit Calculator


But what position do these traders take? This is where the OI weighted funding rate comes in. Funding rates provide insight into trader sentiment. When the funding rate is positive, traders are optimistic and hold many long positions.

However, at press time, TRB’s funding rate had dropped to -1.937%. These figures indicate that short positions were dominant in the market at the time of going to press. However, since the price is in a recovery phase, selling TRB in the meantime may not be a good idea.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The throat is falling, but the jupnet and ajup spark recovery reduce the potential

October 2, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025

Cango Inc. Announces September 2025 Bitcoin Production And Mining Operations Update

October 6, 2025

Cake Eyes 60% Rally Pancake WAP

October 5, 2025

Bitcoin Pullback — ETFs Drive Capital Flows, Altcoins Like SOL And XRP Boost Investor Returns

October 5, 2025

SHIBA INU (SHIB) and Dogecoin (DOGE) holders are 16,736%of Rally Progast Tempts buyers that are accumulated as Little PEPE (Lilpepe).

October 5, 2025

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025
Most Popular

Uncover the Secrets of CashCoin: Best Cryptocurrency Investment – The Defi Info

January 12, 2024

Raffle Coin has launched its Phase 1 pre-sale, eager for Bitcoin and TRON investors to get a slice of the innovative cryptocurrency pie.

March 10, 2024

Understanding Tokenized Securities – Bitfinex Blog

May 14, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.