On the first day of 2024 in Amman, some people are carnivaling, and some people are crying ......At around 6 a.m. on January 1, 2024, the virtual currency TRB, which had climbed nearly $600 all the way, suddenly plummeted, once falling below $200. As of press time, it is still more than 20% from the previous trading day, and more than 60% from today's high of $576. Let the investors who chased all the way up last night quickly liquidate their positions. According to Coinglass data, the liquidation volume reached 71.68 million US dollars (about more than 500 million yuan) in the past 24 hours, ranking first in terms of liquidation amount. 
At one point, it was nearly 80%.The data shows that TRB has fluctuated violently in the past 24 hours, hitting a record high of $315 at 20:47 last night and then touching $236 for a short period of **25%, and then exceeding 150% in just a few hours**, hitting an all-time high of $593 at 6 am today, and then opening ** mode. At one time, it was nearly 80%, and now it is $209. In addition, since the peak of this morning, TRB has had varying degrees of premium between mainstream platforms, spot and contract trading pairs, and the current Bybit platform is still about 20% premium compared with other platforms.
According to Coinglass data, affected by the sharp fluctuations of TRB**, its liquidation volume in the past 24 hours reached 71.68 million US dollars (about more than 500 million yuan), ranking first. 
Synthetix founder KainETH said on social media that SNX stakers lost about $2 million due to today's abnormal TRB volatility event. kain.ETH explained that TRB originally had an open interest limit of $250,000 at Synthetix, but with its **over the past few months**, this cap has ballooned to $12.5 million, and it should have been lowered, but the risk was not tightly controlled. With today's surge in TRB, several short positions were opened, but the arbitrage balance failed due to the misalignment of spot and contract, which was a lesson for Synthetix. Soared more than 80 times in half a yearPreviously, according to Spot On Chain monitoring, of the 2.5 million TRB currently in circulation, about 1.7 million are on exchanges, and 660,000 TRB are held by 20 whales (users who own a large amount of cryptocurrency). It is understood that these whales accumulated these tokens in August and September for $15. Since the second half of this year, TRB's ** has soared from about $7 to around $600, soaring more than 80 times, and the whales have made a total profit of more than $300 millionOver the past two months, whales have progressively deposited their tokens on exchanges, creating a pump-and-dump cycle to liquidate their token holdings. A whale is a user who owns a lot of cryptocurrency. There are many types of whales and virtual currencies on the market, such as BTC whales, ETH whales and BCH whales. The addresses on the whale chain are these virtual currencies, the addresses of large currency holders. According to the analysis of industry insiders, TRB itself is in full circulation, with a circulating market value of only 2$700 million. Judging from the total position, TRB is highly controlled by the whale, and the first address holds 1738%, Binance address holds 1458%, with a total of 47 top 10 addresses77%, the degree of token control is quite high. Judging from the news of the Yiou platform, with the sharp rise in the second half of the year, whales handed over a large number of chips to the exchange to achieve high-level shipments. 
It is the so-called "speculation is cool for a while, and the crematorium is bursting". I hope that everyone will stay away from speculation and invest rationally in the new year!
Editor: Captain Review: Chen Mo.