Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • 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

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025
Add A Comment

Comments are closed.

Recent Posts

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 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

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025
Most Popular

Rootstock Bitcoin L2 Expects Further Latin American Expansion

June 4, 2024

Binance Adds USDC to Dual Investing Service

May 9, 2024

XRP open interest is lowered to 2025. Are the traders giving up?

February 26, 2025
  • 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.