In recent hours, the price of $TRB has seen significant attention due to major whale activity. According to Lookonchain data, two large holders (crypto whales) deposited a combined total of 226,741 $TRB into the OKX exchange. The value of these coins is at approximately $12.18 million. This represents a notable 8.42% of the total supply of $TRB.
$TRB Price at a Crossroads After Crypto Whale Deposits
These huge amounts have raised questions and forecasts on the next possible movement on the price of $TRB. As a rule, such big purchases can signal either the intention of selling or the intention of making a big purchase in crypto market. The traders and investors are observing the price changes to determine if the increased tokens supply will decrease the price or result into a price surge.
The timing of these deposits is also important. The $TRB price has been volatile in the last few days, and what the whales have done now may have a huge influence. In case the deposited tokens are sold immediately, there are tendencies for a downward price. On the other hand, if the whales are still holding their positions, then perhaps it is because of the long-term value of $TRB.
Market Awaits $TRB Price Reaction to Whale Activity
At the time of writing, $TRB’s price is still fluctuating around $52, while market participants continue to be conservative due to large deposits. Long-term crypto investors should keep track of what whales do because such actions are capable of influencing the supply and demand ratios in the short run.
Lastly, the current whale activities, reported by Lookonchain, that involve $12.18 million deposits within the $TRB token are contributing to the future price prediction ambiguity. Over the course of the next hours and days, the crypto market is expected to decide whether this will continue to be a beginning of the correction period or an opportunity to gain even more ground.
