A leading crypto analytics firm says whales with deep pockets are stacking an Ethereum (ETH)-based token that has soared in the past three months.
According to Santiment, traders who owns 1,000 to 100,000 tokens of the decentralized oracle protocol Tellor (TRB) now hold 46% of the total supply of the asset, compared to just 31% seven weeks ago.
Affluent buyers are accumulating TRB as the token’s value rises from less than $15 in September to its current price of $134.
“Tellor remains a force in crypto, jumping to $131 today and nearing an all-time high in May 2021. The asset is +1,025% in three months and now ranks 112th by market cap, and the top 1,000- 100,000 TRB wallets have collected 15% of supply in seven weeks.”
Santiment say indexing protocol The Graph (GRT) is also seeing its highest amount of whale activity since February with 149 transactions worth over $100,000 each and the addition of 620 additional wallets as of November 6.
“The graph has almost doubled since October 19 and there have been major whale movements and new addresses created. To determine whether a bullish trend can continue, the declining average dollar age (as with GRT) is often a validation.”
Santiment also reveals the crypto assets traders are currently interested in based on trending keywords. These include Middle East-based Chain
“While crypto has had one of its least volatile days in the past month, traders are discussing these most popular topics:
RevoLand: Web3 gaming ecosystem
Quantum: Computers may make mining safer
ORDI: New listing on Binance.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DALLE3
