In a notable development, the value of TRB has seen a significant increase from $11 to its current price of $132 since September, marking an impressive 700% rise. This surge coincides with major withdrawals of TRB from Binance by 20 whales, including a new one identified as 0xc75.
Since August 31, 2023, these whales have collectively withdrawn 1.28 million TRB, equivalent to half the total supply and valued at approximately $164 million. The new whale, 0xc75, recently withdrew 94,136 TRB worth $11.6 million at an average price of $123.2 per TRB. These were subsequently stored in his cold wallet and are now worth $12.2 million. His most recent withdrawal involved 31,432 TRB at $129.6 per TRB.
These significant withdrawals and the accompanying rise in TRB's value have led to Andrei Grachev of DWF Labs highlighting the negative funding rates in futures for TRB. This has triggered allegations of potential market manipulation in the midst of these events.
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