The Whale of This Altcoin Made a Large Purchase from Binance! There was a sudden jump in price!
Recently, a new whale known by the short address 0x0ba purchased a staggering 74,578 TRB tokens from Binance. The purchase was made at a price of $29.55 per token, for a total amount of approximately $2.2 million.
After the purchase of the whale, there was a sudden increase in the price of the token. TRB token, which has increased by approximately 18%, is trading at around $ 34 at the time of writing this article.
TRB token is one of the altcoins that has been on the agenda of the cryptocurrency market recently. The token has witnessed major sudden price fluctuations in recent weeks and has seen very high negative values in its funding rate.
The total market value of the token is around $58 million at the time of writing.
However, it is estimated that the token is also targeted by DWF Labs, a market making company whose name has been frequently heard lately.
In his recent Tweet, the founder of DWF Labs pointed out the negative funding rate, alluding to the TRB token. The company was accused of manipulation by other market makers at the Token2049 cryptocurrency conference in Singapore.
*This is not investment advice.