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Analysis

Massive $4.06M TRB Transfer To Binance Amid 25% Price Drop: Analysis

September 18, 2023 - Around 2 mins mins to read

Key Points:

  • Within the last 9 hours, 145,156 TRB ($4.06M) was transferred from Binance, coinciding with a 25% drop in TRB’s price.
  • Notably, several addresses hold significant TRB amounts, with one address withdrawing 489,000 TRB ($15.65M) correlating with a TRB price surge from $14 to $32.
145,156 TRB ($4.06M) transferred from Binance, causing TRB’s price to drop 25%. Multiple addresses involved, some holding significant TRB amounts, raising questions about price impact.

Nine hours ago, multiple addresses executed substantial TRB withdrawals from Binance on September 14, with a total transfer of 145,156 TRB, equivalent to a staggering $4.06 million. This coincided with a notable drop in TRB’s price, plummeting from $36 to $27 within the same timeframe, representing a 25% decrease.

Massive $4.06M TRB Transfer To Binance Amid 25% Price Drop: Analysis

Breaking down the transactions, EmberCN reported that 75,935 TRB originated from addresses that previously withdrew substantial amounts from Binance on September 14. Additionally, 69,221 TRB was transferred from OKX to Binance.

Remarkably, three addresses still hold 566,920 TRB, valued at $15.3 million, constituting 23% of the total TRB supply.

Additionally, on September 14, three newly created addresses withdrew 108,372 TRB, amounting to $3.49 million, from Binance:

  • 43,706 TRB ($1.41 million) → 0x669
  • 33,276 TRB ($1.07 million) → 0x3a7
  • 31,389 TRB ($1.01 million) → 0xb5d

These addresses collectively hold 733,000 TRB, valued at $23.45 million, representing 29% of the total TRB supply.

Notably, one address managed to withdraw a net total of 489,000 TRB ($15.65 million) from Binance and OKX between August 30 and September 14. This accounts for 19% of the total supply and positions it as the second-largest address, following the Binance wallet.

The correlation between this address’s actions and the TRB price increase from $14 to $32 over the same period is intriguing, raising questions about its potential impact on TRB’s market value.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Binance

Binance Address

TRB

TRB Token

TRB tokens

Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
Analysis

Massive $4.06M TRB Transfer To Binance Amid 25% Price Drop: Analysis

Key Points:

  • Within the last 9 hours, 145,156 TRB ($4.06M) was transferred from Binance, coinciding with a 25% drop in TRB’s price.
  • Notably, several addresses hold significant TRB amounts, with one address withdrawing 489,000 TRB ($15.65M) correlating with a TRB price surge from $14 to $32.
145,156 TRB ($4.06M) transferred from Binance, causing TRB’s price to drop 25%. Multiple addresses involved, some holding significant TRB amounts, raising questions about price impact.

Nine hours ago, multiple addresses executed substantial TRB withdrawals from Binance on September 14, with a total transfer of 145,156 TRB, equivalent to a staggering $4.06 million. This coincided with a notable drop in TRB’s price, plummeting from $36 to $27 within the same timeframe, representing a 25% decrease.

Massive $4.06M TRB Transfer To Binance Amid 25% Price Drop: Analysis

Breaking down the transactions, EmberCN reported that 75,935 TRB originated from addresses that previously withdrew substantial amounts from Binance on September 14. Additionally, 69,221 TRB was transferred from OKX to Binance.

Remarkably, three addresses still hold 566,920 TRB, valued at $15.3 million, constituting 23% of the total TRB supply.

Additionally, on September 14, three newly created addresses withdrew 108,372 TRB, amounting to $3.49 million, from Binance:

  • 43,706 TRB ($1.41 million) → 0x669
  • 33,276 TRB ($1.07 million) → 0x3a7
  • 31,389 TRB ($1.01 million) → 0xb5d

These addresses collectively hold 733,000 TRB, valued at $23.45 million, representing 29% of the total TRB supply.

Notably, one address managed to withdraw a net total of 489,000 TRB ($15.65 million) from Binance and OKX between August 30 and September 14. This accounts for 19% of the total supply and positions it as the second-largest address, following the Binance wallet.

The correlation between this address’s actions and the TRB price increase from $14 to $32 over the same period is intriguing, raising questions about its potential impact on TRB’s market value.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.