Tellor Tributes (TRB) sees massive liquidation after soaring to $600

Tellor logo and chart

Tellor Tributes (TRB), the native token of the decentralized oracle protocol Tellor, experienced a wild price swing on Monday, surging from $200 to over $600 in a matter of hours before plunging to $155. The volatile move triggered more than $60 million worth of TRB contract liquidations, making it the most liquidated coin in the past 12 and 24 hours, according to data from CoinGecko.

TRB chart

The price spike was likely driven by a combination of factors, including a low liquidity market, a high demand for oracle services, and a positive sentiment following the announcement of Tellor’s integration with Polygon, Algorand, and other blockchains. However, the rally was short-lived, as profit-taking and selling pressure pushed the price down to its previous levels.

TRB is currently trading at $209, down 22% in the last 24 hours and 14% in the last week, with a market capitalization of $530.5 million, ranking it 119th among all cryptocurrencies. TRB has a circulating supply of 2.5 million tokens and a maximum supply of 2.6 million tokens. TRB can be traded on major exchanges such as Binance and KuCoin, as well as decentralized platforms such as BingX and PointPay.

Author: Jinka

Jinka is a self-trained crypto journalist, passionate about happenings in the industry.