Tellor is a system of decentralized oracles that supports blockchain networks by providing important data from external sources to smart contracts within the chain. Its goal is to revolutionize decentralized finance by facilitating smooth incorporation of real-world data into blockchain applications.
The security of the system relies on its governance agreement, utilizing a simple conflict resolution process to guarantee agreement within the community regarding reported information.
According to the most recent information, TRB has increased by more than 19.40%, climbing to around $132.41 in the last day (at press time). Furthermore, Tellor Crypto currently has a market capitalization of approximately $354.67 Million, with a trading volume of $577.5 Million, showing an increase of 43.07%.
Therefore, if the TRB price continues to climb, it may reach the next target of $160.0. However, if it fails to stay above $100, there could be a further decline.
TRB Price, Volume, And MArketcap | By Santiment.com
According to the tweet on the X platform, this week’s tellor (TRB) crypto reporters reported that there were 1755 in total reports, and the total staked TRB was 39,445.
♂️this week's tellor 'reporters report': pic.twitter.com/D8P18YbZf6
— Tellor (@WeAreTellor) May 4, 2024
Tweet By Tellor | By X Platform
Tellor Crypto Tops As Top Performing Assets In May, In Terms Of Whale Transaction Count
Tellor (TRB) became the best-performing asset in May, seeing an impressive increase in market cap, doubling since the beginning of the month. This increase in worth aligns with abrupt rises in large transactions by wealthy investors and high activity in addresses, suggesting possible chances for investors to take profits.
#Tellor is one of the top performing assets thus far in May, exactly doubling in market cap since the calendar month turned. Whale transactions and address activity have both seen sudden spikes, which are suggesting potential $TRB profit takes. https://t.co/go8CU2iWAI pic.twitter.com/mES615r8ar
— Santiment (@santimentfeed) May 6, 2024
Tweet By Santimentfeed | By X Platform
The recent increase in the value of Tellor is connected to a surge in large cryptocurrency transactions involving TRB. Santiment observed an increase in both active addresses and notable transactions, with active addresses climbing from around 130 on May 1st to 210 on May 6th. The number of transactions exceeding $100,000 increased, with 16 active addresses participating in significant investments.
The strong investor interest in TRB is reflected in the market behavior, possibly influenced by its perceived profitability and strong market dynamics. This trend shows the increasing significance of decentralized oracle networks such as Tellor in bolstering the expanding DeFi ecosystem.
Development Activity In TRB Crypto Is On The Boom
Furthermore, the Tellor (TRB) showcases strong developer engagement within a 4-hour period as the number of commits from developers is constantly fluctuating.
TRB Development Activity, And Count | By Santiment.com
Santiment reports that there has been a consistent increase in both the developer’s activity and commit count for TRB crypto over the past three months.
Moreover on May 7th, the Tellor development team went live to update the Tellor community on their development progress. This showcases the optimistic attitude conveyed by the development team, discussing topics such as testnet and other things during a meeting with various developers.
hey tellor community, today's dev call is up! pic.twitter.com/i7kHiZ9qK9
— Tellor (@WeAreTellor) May 6, 2024
Tweet By Tellor | By X Platform
Summary
Tellor (TRB) price has increased by over 19.40%, at prees time its price is $132.41, with a market cap of $354.67 Million and trading volume of $577.5 Million. If TRB continues to rise, it may reach $160.0, but a drop may occur if it falls below $100.
Moreover, TRB had 1755 reports and 39,445 staked TRB reported recently. TRB was the top-performing asset in May, with a market cap doubling. The increase is linked to large TRB transactions and growing investor interest.
Developer activity in TRB has been consistently increasing over the past three months, with updates and meetings highlighting positive development progress. This showcases the importance of decentralized oracle networks like Tellor in the DeFi ecosystem. Santiment reported an increase in active addresses and significant transactions, indicating strong market dynamics and investor interest in TRB.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
