Tellor Tribute (TRB) is a utility and governance token powering Tellor — a blockchain oracle service that provides a way to bring off-chain data to the chain to be used by dApps in DeFi space. Tellor was launched in 2019.
Typically, blockchain is a closed system, accepting only the information that already lives on-chain. But developing and executing truly useful smart contracts often requires data from the “outside world” like current exchange rates, otherwise, their utility is quite limited. Tellor as an oracle solves this problem by letting users request data and putting it on the chain using a trustless network, which incentivizes adding honest data. The network is secured using Proof-of-Work (PoW) protocol and staking.
To make a request, TRB token holders add TRB “tips” to the data types they want to update. Every five minutes tips are tallied up and 5 requests that received the most funding are put together into a block for mining. The first five miners to provide both the PoW challenge solution and the requested data itself get rewards. Half the tips are divided between the 5 winning miners, while the other half is burned, which helps maintain scarcity. A TRB holder can then dispute the data (for a fee) if necessary, after which other holders can vote on the dispute. The token is also used for governance.
TRB’s launch in 2019 went pretty quietly, as the price settled around the $3-$4 mark, rarely breaking $5. This went on until late July 2020, when the price first started climbing up — slowly at first but shooting up to ~$75 in August following the Binance listing. After a correction in the fall of the same year, TRB was trading around $20-$25 for a while. Its price started to rise again in January 2021, reaching up to ~$60, but a major technical failure in February sent it tumbling back down again to around $35 and even lower. After the issue was fixed, TRB’s price recovered quickly. It spiked after Tellor’s listing on Coinbase in early May, reaching a spectacular $163.76 on May 10. By late June, TRB’s price went down, but it was still trading at around the ~$40 mark, keeping its users’ interest by announcing the upcoming upgrade called Tellor X.
Despite the fact that 100% accurate technical analysis for Tellor cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated TRB buy-and-sell rating for selected timeframe. The summary for TRB/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Tellor (TRB) from popular forecast platforms.
According to WalletInvestor, Tellor price will grow from $36.287 to $85.705 in one year. That makes TRB an awesome investment. The long-term earning potential is 136.19%. Predicted price for the end of 2026 is $265.301.
Answering the question about if Tellor is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $38.122 with a growth to $39.792 by the end of 2022.
In DigitalCoin analysis, the price of Tellor cryptocurrency will rise in the next 5 years starting from $36.2452 as of today’s price to $151.8262164. It will go up to $58.8210158 by 2022 and continue its growth in 2023–2024. Based on this forecast, Tellor is a profitable long-term investment.
As it can be clear from the analysis cited above, Tellor (TRB) projections are rather contradictory. There is no universal consensus either about positive or negative future TRB price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Tellor projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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