Tripled in a week, the familiar monster coin TRB is back
After a month of slump, the market rebounded this week, and Bitcoin, Sol-based tokens, and AI-based concept coins all saw good gains. In general, the certainty of this wave of recovery is relatively strong. After a week, it has brought hope to the community that has been in the haze for a long time.
The market has a slight correction. According to Coingecko, among the top 100 crypto tokens by market value, most of the tokens are falling, and popular tokens have a drop of 2%-10%. In the slightly boring market, some special currencies have emerged.
There are two "well-known" tokens that are rising against the trend, one is the bankrupt coin FTT, and the other is the monster coin TRB. The reason for FTT's rise may be related to the creditor compensation plan submitted by FTX, while TRB is more intriguing.
TRB is the token of the decentralized oracle Tellor project, which was born in 2019. In the past week, TRB has risen rapidly from $45, and the increase to today is even more eye-catching. As of 2 hours before writing, it has risen by 20%, and has now exceeded $140. After rising more than three times in a week, TRB's position is still nearly 4 times the previous high of over $600, and there should be many trading players who are interested.
If you are also eager to move, you might as well review the "demon coin" history of TRB before opening an order.
From 2022 to September 2023, the price of TRB has not exceeded $50. Most of the time it was around $10. Starting in September 2023, TRB rushed to $40 in less than a month. In November, TRB broke through $100, close to the previous high.
New Year's Eve on December 30, 2023, became the "contract withdrawal moment" for many traders. That night, after a steady rise to $300, TRB began to plummet by more than 25% at 8 pm, and fell to around $200 within 2 hours. At this time, TRB was still at a high level in the past trend, and its downward trend triggered more short-selling operations, but TRB began to rise sharply, soon hitting a new high, and rose all the way to $629, a six-hour increase of 165%.
Without any warning, at 6 a.m. on January 1, TRB began to plummet, falling nearly 70% in one hour. Under the double explosion of long and short positions, TRB's liquidation on that day reached $55.48 million, more than twice the ETH liquidation volume ($19.49 million) during the same period.
The reason why TRB can get out of the "roller coaster" route is related to its too small circulation of tokens. The circulation of TRB is less than 260,000. According to community analysis, most of TRB's chips are concentrated in the hands of a few dealers. In the "bloodbath" that night, the dealer only needed to invest 40 million US dollars to raise TRB from 280 US dollars by 80%, easily controlling the power of drawing lines.
Back to this rise, a week ago, when TRB started to rise from 45 US dollars to 60 US dollars, there were many advices: "TRB has started to make trouble again, everyone must not be fooled, even if you want to play, you must set a stop loss, don't fight the dog dealer", but when TRB broke through 100 US dollars, 120 US dollars and even 130 US dollars, there were more contracts about TRB.
In fact, one month before the "long and short bloodbath" at the beginning of the year, TRB had experienced two single-day fluctuations of nearly 50%. But these fluctuations did not hinder the enthusiasm of traders. After a four-month hiatus, TRB has made a comeback. From the Coinglass data, it can be seen that the volume of TRB contract liquidations has increased significantly since May 1. After having the "experience", can you still get out of it unscathed?
