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

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.

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.

TRB Affected Crypto Market

The impact of this price volatility has been felt across the cryptocurrency market, with a total of $227 million worth of liquidated positions reported recently.

Investors and regulators alike must prioritize transparency and accountability due to market manipulation. The recent hype surrounding TRB serves as a stark reminder of the importance of these values in an industry that is still evolving rapidly.