November 9, 2023
A top crypto analytics firm, Santiment, has reported that wealthy investors, known as whales, are accumulating a significant amount of a popular Ethereum-based token. Over the past three months, these affluent buyers have been stacking up tokens of the decentralized oracle protocol Tellor (TRB), resulting in a surge in its value.
According to Santiment, traders who possess 1,000 to 100,000 TRB tokens now own 46% of the total supply. This figure has risen from just 31% seven weeks ago, indicating a significant increase in whale ownership.
The value of Tellor (TRB) has experienced a remarkable increase, rising from under $15 in September to its current price of $134. This surge in value has attracted the attention of affluent buyers, who are keen to capitalize on the token's growth potential.
Tellor has proven to be a strong contender in the crypto market, with its price reaching as high as $131 and approaching its all-time high in May 2021. Over the past three months, the token has seen a staggering growth of 1,025% and currently holds the 112th position in market cap rank. Notably, key wallets holding 1,000-100,000 TRB tokens have accumulated 15% of the total supply in just seven weeks.
Santiment also highlights the indexing protocol The Graph (GRT), which has witnessed a surge in 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 attracted significant attention from wealthy investors.
The mean dollar age line moving down for The Graph (GRT) is seen as a positive sign for a bullish trend continuation. Santiment suggests that this validation is crucial in determining whether the token's price will continue to rise.
Santiment reveals the current trending keywords in the crypto market, indicating the assets that traders are currently interested in. 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 largest crypto exchange.
The accumulation of Tellor (TRB) tokens by wealthy investors and the impressive growth in its value highlight the increasing interest in Ethereum-based tokens. Additionally, The Graph (GRT) has attracted significant whale activity, indicating a positive market sentiment. Traders are also showing interest in trending assets such as Revolution Land (REVO) and Ordi (ORDI). As the crypto market continues to evolve, it is essential for investors to stay informed and conduct thorough research before making any investment decisions.