Spot On Chain: TRB whales liquidate their token holdings by pumping up sell-off cycles
Spot On Chain stated that out of 2.5 million TRB, approximately 1.7 million are on exchanges, and 660,000 are held by 20 whales (about 95% of the tokens). Over the past two months, whales have slowly been depositing their tokens into exchanges, creating a cycle of buying high and selling low to liquidate their holdings.Since most of the tokens are still in the hands of whales, they control the game. The price may experience a significant increase to clear short positions and hard selling to liquidate their holdings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tax on Bitcoin (BTC) and Cryptocurrencies from Russia!
The Russian Federation Council has approved a new tax bill for cryptocurrency mining and trading.
Tornado Cash Decision from the US Will Benefit These Altcoins the Most!
10X Research founder Markus Thielen assessed the impact of the Tornado Cash decision.
Another Country Makes a Move for Bitcoin! The First Step Has Been Taken for a Strategic BTC Reserve!
Vancouver Mayor Ken Sim has announced plans to add Bitcoin to the city's balance sheet in an effort to diversify the city's investment portfolio.
Japan's MicroStrategy Company Announces It Will Generate Resources to Buy More Bitcoin!
Japanese company Metaplanet has announced plans to raise up to 9.5 billion yen (approximately $62 million USD) in funding.