YEREVAN (CoinChapter.com) – Trias coin price stood at $4.2 in the European session on Nov. 30, after a 17% jump in the previous 24 hours. As a result, the token reached a local peak, however still traded 85% below its all-time high of $32.
However, the question remains, will the bulls manage another leg up?
TRIAS Token Bulls Dormant
According to on-chain data tracker Santiment, TRIAS whales, i.e., wallets holding large amounts of coins, offloaded a substantial part of their stash in Q2 – Q4, bringing their holdings to 60% in November.
Typically, whale behavior is the ‘canary in the coalmines’ for retail investors. They assume whales have more information about the market conditions to make a better decision. Thus, they often follow the whales’ footsteps, especially in the case of small market cap tokens like Trias.
Additionally, as the chart above demonstrates, the Trias coin price boost was also triggered by a single over $100,000 transaction on Nov. 30 (yellow vertical spike).
Additionally, the Network growth turned negative in the previous sessions, confirming the bearish expectations.
Additionally, the Trias team posted its newsletter with the latest updates, that could help potential investors make a decision.
Team Newsletter Optimistic
Despite the Trias token price being 86% lower than its all-time high, the team behind the project was optimistic in its latest newsletter.
According to the letter, the Trias team “accelerated” the mainnet update, which will come in December, instead of 2024. However, they pointed out that they cannot disclose the precise progress. Furthermore, the Trias website will undergo a simultaneous upgrade, with a “fresh and updated” brand and image.
The Newsletter promised further progress on ERC20 deposits, as well as “promising developments and remarkable data from Triathon Lab, Tusima Network, and Leviatom Network.