Tellor (TRB), the cryptocurrency that grew dozens of times in the second half of 2023, continued to have fluctuations that surprised many investors on the first day of 2024.
On the morning of the 1st of January 2024, many investors in the cryptocurrency community were startled by the price chart of Tellor (TRB) when this currency tripled in just a few hours and then collapsed spectacularly.
Specifically, since the evening of 31 December, the price of TRB began to rise slightly from USD 270, before continuing to rise by 132% to reach a new record high of USD 629 at around 3am on 1 January.
However, in the hours that followed, Tellor suddenly collapsed to the 168 USD level, losing 73% of its value, before recovering to the 200 USD level at the time of writing.
The TRB/USDT pair’s trading volume on Binance over the past 24 hours has reached more than $800 million, second only to BTC/USDT.
Data from Binance Futures shows that TRB futures contracts have consistently recorded large negative funding ratios, up to -2%, which partly explains the violent price fluctuations on the spot chart.
According to CoinGlass, more than 50 million USD of TRB derivative orders have been liquidated in the last 12 hours, surpassing both BTC and ETH. Of this, $14.4 million were long orders, while the remaining $36 million were on the short side.
Tellor (TRB) is a project in the Oracle segment, launched in 2020. After fluctuating between USD 7 and 9 for most of 2022, the price of TRB has started to rise since September. At a price of USD 215 at the time of writing, TRB is still up almost 24 times in the last 3 months. Just last week, Tellor also “retreated” from USD 185 to USD 128 in a matter of minutes, leaving many investors unable to keep up.
