Tellor Price Prediction: TRB future worth?
Crypto Knowledge

Tellor Price Prediction: TRB future worth?

written by John Murphy | May 8, 2023

Tellor Oracle network has emerged as a new competitor in the crypto world as it provides a decentralized platform for sourcing real-world data. Tellor is known among investors especially due to its reliability and on-chain security. This is why In this article we will discuss more tellor. As in, how it works and also analyze the Tellor price prediction.

KEY TAKEAWAYS

  • Tellor is known for providing a safe and reliable on-chain experience to its users.
  • For the past few months, the coin may be struggling but its future seems bright.
  • By the year 2030, the price of TRB tokens may cross $200.

There are various things to go through while predicting the price of a TRB token. Which makes it, not an easy task to accomplish. However, we managed to gather data and tried to discuss the salient aspects that influence the token’s value. There are historical fundamental and technical analysis to help us make educated TRB token price predictions.

Some analysts believe that the price of TRB crypto may increase in the following years. But all predictions are subjected to unforeseen market conditions that can collapse or hike at any moment.

Tellor Price Prediction: Past Price History

Tellor Token has faced a challenging time in the past few months. Currently, the token is trading at the price of $11.92 with a market cap of $20,246,327. Among all cryptocurrencies, it ranks at #608 with a circulation supply of 1,703,442.

The token lost a significant sum of its value. Previously it was trading at the price of $18.69 and ranked #600 in cryptocurrencies. Following the drop the coin went down to its current price of $11.87. This indicates a steep loss of 36.22% in the TRB value.

Over the last 3 months, the token has been going through fluctuating price movements with minimum and maximum average prices ranging from $14.87 to $15.67. Even during the past 4 months, its value decreased by -8.52%.

Las 30 days have been equally harsh with turbulent TRB price charts, as its value dropped by 19.79%. However, this sudden TRB price dip presented an opportunity for quick investment. Though in the last 24 hrs, the price was still decreasing. This shows that the TRB crypto has been struggling to gain momentum.

Tellor crypto overview

Coin Name-Tellor
Symbol-TRB
Market Cap-$20,159,121
Volume 24h-$3,917,869
Circulating Supply-1,703,442 TRB
Current Price-$11.83

What is Tellor Crypto (TRB) and how it works?

Tellor TRB is a utility token built on the Ethereum blockchain that powers the Tellor network. It also works as a governance token on the platform. Tellor itself is a blockchain oracle service that lets its users bring off-chain data to the chain to be used by dApps in the DeFi space.

The Tellor platform was launched back in 2019 and is working on improving the smart contracts service ever since. It allows users to create smart contracts with reliable data and serve as a DeFi alternative to off-chain data with the help of trusted miners who stake on the platform.

How does tellor work?

TRB token allows its users to request data values that are off-chain and in turn, incentivizes miners to provide that data through competition. Then the TRB token is rewarded to them for their efforts.

Furthermore, to request data there is a procedure they need to follow. First, the users are supposed to submit a query through the tribute system and then add TRB ‘tips’ to the type of data they want to update.

A kind of bidding process occurs. The tips are tailed, every five minutes, and the top 5 requests with the most funding are put into the block for mining. More so, the first 5 miners also get rewarded for providing both the PoW challenge solutions and the requested data. Then half of the tips go to the winning miners and the other half is burned to maintain scarcity.

Future Price Analysis of Tellor TRB

To predict TRB crypto price prediction there are certain aspects that we need to analyze before making any guesses. These include studying the technical and fundamental analysis of any token. The technical analysis involved such indicators that help us get an idea of the potential of a token. For example, the Relative Strength Index of the TRB coin tells us whether the coin is oversold or overbought. There are others as well like trading volume, market trends, and more.

Then comes the fundamental analysis that includes indicators that can directly impact the price of a token. Such as the market sentiment or the protocol adoption.

Tellor Price Prediction
Source: TrandingView

Below you will find our analyzed TRB coin price predictions.

Tellor TRB Price Prediction 2023

The Tellor price may reach a maximum of $18 by the end of this year.

Tellor Coin Price Prediction 2025

Under stable conditions, the coin may even reach a maximum price of $40 by the year 2025.

Tellor Price Prediction 2030

The price of the Tellor token may reach a whooping price of over $200 by the year 2030.

FAQs

Is Tellor a good investment?

Yes, Tellor is a good investment specifically for those who intend to invest in it for the long term.

What is the future of Tellor?

The future of Tellor seems to be bright depending on the current fundamentals. However, the overall market sentiment at any time can affect the price.

How high can Tellor go?

In the coming 5 years, the price of Tellor can go as high as around $80.

DID YOU KNOW?

  • The TRB token is not limited to one person other users can also hop in to receive further data.
  • TRB holders get the authority to vote for the improvement of the network.
  • By the year 2026, we can expect the coin to double in price and hit around $40 or even more.

Conclusion

The tellor price prediction for the coming years has an optimistic side to it. Even though the coin is currently facing some hard times but we can expect the coin to rise again. It seems like the price of the token will boost in the coming years based on the current analysis. this presents a great opportunity for mid-term or long-term investors in the crypto market.

However, no matter what token you are investing in there are always risks associated. These are due to the unpredictability and the high volatility of the crypto market. Therefore always make informed decisions before you invest.