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As excitement grows around Chainlink (LINK), another altcoin that stands out in the RWA field, TRB, has also seen a rise. In fact, we have witnessed the price reaching three-digit levels. This exciting surge was further strengthened by the support of whales. So why are prices now falling? The answer may once again lie with the whales.
Whale Movements in TRB Coin
Last week, the TRB Coin price dropped by nearly 30 percent. The reason for this decline was clearly whale sales. An evaluation conducted by Lookonchain reveals that certain prominent whales have made millions of dollars in profit. Three major whales are among those responsible for the price drop.
The first whale purchased 72,240 TRB at a price of $94 on the Binance exchange. Then, when the price reached $107, they sold their investment, earning $955,000 in profit.
The second whale, with the address 0x8f, made purchases at even lower levels. They bought 65,724 TRB Coins at $35 and, as you can see below, sent their assets to Binance when the price reached $104. Their total profit was $4.5 million.
Our last whale paid a heavy price for FOMO. They collected 94,136 TRB Coins at a price of $138 (address 0xC7) and incurred a loss of $4 million when they sold them at $95.
There are still around 20 whales who have not sold their TRB Coins, and these 20 addresses hold a total of 1.08 million coins. This corresponds to 42.5 percent of the supply. If whale sales continue, 14 addresses holding $47 million worth of altcoins are waiting in a profitable position.
TRB Coin Price Predictions
The hype in the RWA field does not seem to be ending anytime soon. However, Tellor may need to take new steps or announce partnerships in this area. If they fail to do so, it would not be surprising to see whale profit sales continue and the price naturally decline. For now, the $82 region is being maintained as support. If the price is to rally quickly again, it needs to close above $94.3.
If they can achieve this, the $107 level may be targeted again, followed by the $144 resistance. However, closing below support levels at $76 and $68 suggests a potential drop to $53. As of August 27, this altcoin has gained 1260 percent, so profit sales like these should not be surprising. The price is still approximately 700 percent higher than its level at the end of August.
