A top crypto analytics firm says that deep-pocketed whales are stacking an Ethereum (ETH)-based token that’s surged over the past three months.
According to Santiment, traders who own 1,000 to 100,000 tokens of the decentralized oracle protocol Tellor (TRB) now own 46% of the asset’s total supply, up from just 31% seven weeks ago.
Affluent buyers are amassing TRB as the token’s value jumps from under $15 in September to the current price of $134.
“Tellor continues to be a force in crypto, jumping as high as $131 today and nearing its May 2021 all-time high. The asset is +1,025% in three months, now 112th in market cap rank, and key 1,000-100,000 TRB wallets have accumulated 15% of the supply in seven weeks.”
Santiment says the indexing protocol The Graph (GRT) also sees the highest amount of whale activity since February with 149 transactions worth over $100,000 each and the addition of 620 more wallets as of November 6th.
“The Graph has nearly doubled since October 19th, and there has been major whale movement and new addresses being created. To identify whether a bullish trend can continue, the mean dollar age line moving down (like it has for GRT) is often validation.”
Santiment also reveals the crypto assets that traders are currently interested in based on trending keywords. These include Middle East-based Chain X Game’s Revolution Land (REVO) and Ordi (ORDI), the first BRC-20 token on the Bitcoin blockchain that can now be traded on the world’s biggest crypto exchange.
“While crypto has had one of its least volatile days in the past month, traders are discussing these top trending topics:
RevoLand: Web3 game ecosystem
Quantum: Computing can potentially make mining more secure
ORDI: New listing on Binance.”
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- Source: https://dailyhodl.com/2023/11/09/crypto-whales-heavily-accumulating-ethereum-based-altcoin-thats-exploded-over-1000-in-three-months-santiment/
