The altcoin Tellor (TRB) recently experienced a significant surge in price, reaching an all-time high of $619 before plummeting back down to $136 in just 13 hours. The unusual trading activity raised suspicions when data from Etherscan showed that the Tellor team transferred 4,211 TRB, worth around $2.4 million, to a Coinbase wallet at the same time as the price spike. CoinGlass data revealed that the sudden drop in Tellor's price led to over $68 million in liquidations. Spot on Chain, a blockchain analytics platform, believes that these wild price swings may be due to 95% of TRB's circulating supply being held by just 20 "whale" wallets. These whales have been buying TRB at low prices and depositing their holdings to exchanges, potentially causing manipulated price movements. The price volatility of TRB has also affected decentralized trading protocols like Synthetix, resulting in significant losses for its stakers. Tellor is a decentralized oracle network, similar to Chainlink, and TRB is its utility token. Despite attempts to contact Tellor for comment, no response has been received so far. Read more AI-generated news on: https://app.chaingpt.org/news