In a dramatic turn of events, the spot price of Tellor (TRB) experienced a sudden surge, skyrocketing from approximately $51 to a staggering $79. This represents a significant increase of 58% within a mere span of 5 minutes. Concurrently, the contract price also soared, reaching an impressive $81.

However, this meteoric rise was short-lived as the price quickly reverted to its normal range. This rapid fluctuation in price led to the liquidation of short positions amounting to $3.11 million. The majority of these liquidations were concentrated on OKX ($1.71 million) and Huobi ($1.19 million).

This event underscores the volatile nature of cryptocurrency markets and serves as a reminder of the risks associated with trading in such a dynamic environment. As always, investors are advised to exercise caution and conduct thorough research before engaging in any trading activities.