As we start today’s article, we’ll ensure you get properly acquainted with the Tellor crypto project. As such, we’ll review Tellor’s various aspects and ensure you learn what it’s all about. After the first part, you should be able to answer the question, “What is Tellor crypto?” confidently. Next, we’ll focus on the Tellor Tributes (TRB) cryptocurrency, and you’ll learn about the token’s purpose, use cases, and tokenomics. So, in that part, our objective will be to answer the question, “What is the TRB crypto token?”
Now, as altcoin traders/investors, we’re primarily concerned with the price action of assets. So, because of this, we’ll properly analyze the TRB crypto’s price. In doing so, we’ll do a decent overview of the asset’s entire price action. We’ll also outline the token’s key levels of support and resistance, and aside from using technical analysis (TA) basics, we’ll also deploy the power of the ultimate crypto indicator – Money Line.
As we look at TRB’s price, we also want to remind you to take any long-term Tellor crypto predictions you might find online with a grain of salt, as many won’t play out. That said, we will still have some fun with some highly speculative price targets for $TRB. In addition, we’ll explain how you can use the power of Moralis Money when facing the “Is Tellor crypto a good investment?” question. After all, thanks to Moralis Money’s cryptocurrency analysis sites (a.k.a. token pages), you can obtain invaluable insights into tokens’ on-chain data.
Last but not least, we’ll also inform you where and how to find the markets to buy TRB crypto.
What is Tellor (TRB) Crypto?
The Tellor crypto project aims to position itself at the forefront of decentralized oracle networks. The project serves as an immutable protocol designed to integrate real-world data into blockchain platforms. At its core, Tellor addresses the “oracle problem,” enabling blockchains like Ethereum to access a diverse range of external information. This info ranges from cryptocurrency prices to sporting events and weather updates.
According to the project’s official website, Tellor’s uniqueness lies in its decentralized network of reporters responsible for data reporting and validation.
Tellor’s native token, the TRB crypto, plays a pivotal role in this ecosystem. It aligns participants’ incentives and ensures a secure and censorship-resistant oracle network. We’ll take a closer look at the TRB token as we move on.
Tellor’s Founders and History
Tellor emerged as a groundbreaking solution to the challenges faced by oracles back in 2019. It was founded by Brenda Loya and Michael Zemrose, who ensured that Tellor addressed the speed and cost concerns associated with off-chain data feeds. Later, Nick Fett, now in the role of Tellor’s CTO, joined as the third co-founder.
Brenda Loya took the role of Tellor’s CEO, bringing extensive expertise in blockchain, data science, and scalability to drive the project’s mission. Furthermore, the founding team’s previous experience in creating Daxia, a derivatives protocol also hosted on the Ethereum network, further underscores their commitment to advancing blockchain technology.
How Tellor Crypto Works
The oracle problem – inherent in blockchain networks like Ethereum – necessitates a solution for incorporating off-chain data securely. Tellor tackles this challenge by fostering a permissionless network where anyone can deposit a stake to become a data reporter.
Tellor’s incentives are aligned through a dynamic interplay of stake deposits, data reporting, and dispute resolution. By engaging a diverse community, Tellor promises to mitigate the risks associated with centralized points of failure. Hence, it ensures a robust and reliable oracle mechanism.
Subjectivity and Reliable Data Sourcing
Unlike conventional oracle solutions that rely on single-point APIs, the Tellor crypto project goes beyond by establishing a consensus on “truth.” The Tellor oracle operates as a network of individual participants who are economically incentivized to report and validate accurate data. This approach minimizes dependence on specific APIs or sources, reducing vulnerabilities related to data manipulability and censorship resistance. Tellor’s commitment to objectivity enhances the reliability of the data it brings on-chain.
Ensuring Finality and Security
Tellor incorporates the principle of finality, emphasizing the importance of validating data over time. Just as transactions on centralized exchanges undergo a waiting period for finalization, Tellor encourages a similar practice for on-chain data. With this approach, the project ensures that values are only utilized after a stipulated time on-chain. This allows for dispute resolution and significantly enhances the probability of data validity.
Also, Tellor claims to have robust security measures, which are combined with its decentralized approach, to deliver a resilient oracle system.
Permissionless Integration and Chain Compatibility
Tellor champions “permissionlessness” by allowing anyone to stake and report data. The protocol’s design ensures independence from the Tellor team, providing a trustless and permissionless environment. Also, Tellor is compatible with any Ethereum Virtual Machine (EVM) chain, expanding its utility beyond a single blockchain.
Whether users choose to stake for themselves or incentivize reporters, Tellor’s permissionless nature aligns seamlessly with the ethos of blockchain technology.
Modular Contracts for Core Functionality
The Tellor ecosystem operates through a set of modular contracts, each contributing to the core functionality of the oracle. The Tellor Oracle contract manages data reporting, slashing reporter stakes, and data reading.
These are the three main types of Tellor smart contracts:
- The autopay contract facilitates payments to reporters, allowing users to set schedules for reporting rewards.
- Governance contracts handle dispute resolution and execution on Tellor’s Oracle contract, ensuring the integrity of the system.
- The TRB crypto token contract governs the TRB’s functionality, including the minting of time-based rewards on the Ethereum mainnet.
Now that you know the answer to the “What is Tellor crypto?” question and understand what the project is all about, it’s time we take a closer look at the TRB token.
What is the TRB Cryptocurrency?
The TRB crypto, or the Tellor Tributes token, is Tellor’s native coin. Its original home is the Ethereum network, where it follows the ERC-20 token standard. However, since its creation, the token has transitioned to other EVM-compatible networks, making the TRB crypto a cross-chain asset.
TRB was designed to incentivize a robust, open, and permissionless network for data reporting and validation. As such, its primary purpose lies in aligning and linking the interests of various participants within the Tellor ecosystem, including data reporters, consumers, and stakeholders.
Key Features and Use Cases of TRB
- Incentivizing Data Reporting: TRB serves as a staking and rewarding mechanism for individuals known as data reporters. These reporters deposit TRB as a stake to report accurate data to the Tellor network.
- Dispute Resolution: In the event of a dispute over the accuracy of reported data, $TRB acts as collateral. If a data reporter loses a dispute, their staked TRB goes to the party challenging the data. This reinforces a system where truthful reporting is rewarded, and malicious activities are penalized.
- Network Governance: TRB holders can actively participate in the governance of the Tellor protocol. Decisions related to protocol upgrades, dispute resolutions, and overall network improvements are all subject to voting by TRB token holders.
Tellor Tributes Tokenomics
The tokenomics of TRB are another important aspect of the “What is TRB crypto?” discussion. As per the token’s main purpose and use case, TRB’s tokenomics were structured with a fixed supply. As a result, TRB ensures scarcity, and its value is subject to market dynamics and demand within the ecosystem.
The tokenomics of TRB create a balanced incentive system, fostering an environment where active participants are duly rewarded, and the network remains resilient against malicious activities.
Here’s the overview of Tellor Tributes tokenomics:
- On-chain name: Tellor Tributes
- Symbol/ticker: TRB or $TRB
- Token type: ERC0-20
- Networks:
- Ethereum
- Gnosis Chain
- Polygon
- Optimism
- Arbitrum
- Smart contract address:
- 0x88df592f8eb5d7bd38bfef7deb0fbc02cf3778a0 (Ethereum)
- 0xaad66432d27737ecf6ed183160adc5ef36ab99f2 (Gnosis Chain)
- 0xe3322702bedaaed36cddab233360b939775ae5f1 (Polygon)
- 0xaad66432d27737ecf6ed183160adc5ef36ab99f2 (Optimism)
- 0xd58d345fd9c82262e087d2d0607624b410d88242 (Arbitrum)
- Total supply: 2,587,353 $TRB
- Token distribution: Visit Moralis Money’s $TRB token page (the “Bubble Chart” section):
Note: You can find the link to the token page (including the the crypto bubblemaps) in the “Is Tellor Crypto a Good Investment?” section below.
Now that you can answer the “What is Tellor crypto as a project?” and “What is the TRB crypto token?” questions, it’s time to dive into the asset’s price!
Analyzing the TRB Crypto Price
Before considering any Tellor crypto prediction, you should know what levels the $TRB price has covered. These levels are also important to consider when faced with the “Is Tellor crypto a good investment?” decision. With that in mind, let’s go over the $TRB price’s path:
Looking at the above price chart, you can see that TRB has been through quite a wide range. In 2019, the token’s price was initially around $0.9 but occasionally dropped into the $0.2 and lower region. However, although the price recovered and reached $6.5 in December 2019, it wasn’t able to maintain those levels at the time.
It wasn’t until June 2020 that the TRB price properly broke the aforementioned level. This upward move was part of the entire altcoin market’s rally, which pushed $TRB to $73. After that peak at the end of August, the asset experienced a major correction, returning to the $16 region. Except for the attempt at the $33 level, TRB mainly stayed in the $20-$30 region, dipping lower again at the end of 2020.
Following that low, the token started to rally again, eventually reaching its new ATH at just below $150 in May 2021. That marked TRB’s peak for the previous cycle. And what came next was a tough, bearish period with some relief rallies.
However, eventually, the price reached its bottom at around $6.5 in May 2022. After another relief rally to $46 in August 2022, the price revisited its lowest levels by June 2023.
2023 Recovery and New ATH
After touching the $7.4 level on June 10, 2023, traders started to buy TRB crypto. With increasing buying pressure, the price started to recover. At first, the recovery was slow; however, after a dip into the $9 region on August 17, the price started to rally nine days later.
By November 8, the $TRB price increased by an impressive 14x-plus, getting close to the asset’s ATH set in 2021. However, at the time, the $144 level served as resistance, which pushed the token into a 50% correction. The latter ended on December 6, 2023, at $73. From there, TRB exploded again, increasing by another 8x-plus by December 31, 2023. On that day, the price spiked to $629, which is the new $TRB ATH. However, the daily candle close was set at $262.
After reaching new heights, the token pulled back and is now finding support on top of $110. At the time of writing, $TRB is trading at around $136.
Tellor Crypto Price Prediction
Looking at the above weekly chart on a logarithmic scale, you can see the entire TRB price action since August 2020. On that chart, we also marked all the most important levels of support and resistance for Tellor. Charting these levels is one of the most basic TA aspects, yet still very powerful.
Since crypto market conditions look rather positive and TRB just set its new ATH, it is quite likely that the token will move to the upside rather than the downside as the ongoing bull market continues, at least in the long run.
That said, the best crypto indicator – Money Line – is currently indicating a bearish trend on daily and weekly timeframes for TRB:
Note: If you wish to get your hands on the Money Line indicator – the best crypto charting tool, make sure to opt for the Moralis Money Pro or Starter plan.
In sum, it wouldn’t be surprising to see the TRB price move sideways or even revisit some of the lower support levels before moving higher.
Do Not Trust TRB Price Predictions, Make Your Own!
Regarding Tellor crypto predictions, you should be cautious of sites and individuals offering exact long-term $TRB price targets. After all, crypto markets are extremely volatile and highly unpredictable. So, any Tellor crypto prediction is a pure guess and will most likely turn out to be way off. Thus, take those price targets from predictions with a grain of salt.
The only way to make any tangible and accurate price prediction is to use reliable live prices and on-chain metrics and focus on short-term targets. Thus, we leave it up to you to come up with your own short-term Tellor crypto prediction by focusing on the TRB’s live price and its real-time, on-chain metrics. You can find these invaluable insights on the Moralis Money Tellor Tributes token page (link in the next section).
Still, we can have some fun by speculating on the possibility of Tellor following Chainlink’s footsteps. So, if this oracle crypto were to match LINK’s ATH market cap of roughly $22 billion, the $TRB price would be around $8,500. Do you think that could happen?
Is Tellor Crypto a Good Investment?
By this point, you should be able to answer the “What is Tellor crypto project?” and “What is TRB crypto token?” questions. As such, this knowledge allows you to determine whether you find the potential opportunity of TRB interesting or not. If yes, then it’s up to you to research the Tellor project further. This is where the Moralis Money Tellor Tributes ($TRB) token page enters the scene. It provides you with the tools and resources to answer the question, “Is Tellor crypto a good investment?” with confidence.
Particularly valuable are the “Alpha Metrics” and “Price Chart” sections. After all, they provide you with the insights required to determine the most likely short-term moves for TRB. So, to decide if you wish to buy Tellor or not, follow the above “$TRB” link or use the interactive widget below:
Where and How to Buy TRB Crypto
If you decide you wish to get a bag of $TRB, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
Key Takeaways
- What is the Tellor crypto project all about? It is about leveraging blockchain tech to create a reliable decentralized oracle protocol. Tellor aims to enable secure and trustless on-chain data access by incentivizing a network of participants to report and validate real-world data.
- What is the TRB crypto token? It is the native cryptocurrency of the Tellor ecosystem. It facilitates incentives for data reporters, governance participation, and supports the decentralized oracle network’s secure and reliable data retrieval mechanisms.
- The $TRB price has been through a wide range since 2019. However, the asset set its ATH on December 31, 2023, spiking as high as $629 but closing the day at $262.
- Do not trust any long-term crypto price predictions. Instead, use reliable live prices and on-chain data to come up with your own short-term predictions.
- To determine if/when to buy TRB crypto, use the Moralis Money page for that token.
Whether you end up buying TRB or not, you shouldn’t forget about other altcoin opportunities. As such, make sure to use the best crypto trading tool – Moralis Money – to find these opportunities early. With the platform’s core feature – Token Explorer – you can spot alts that are gaining on-chain momentum. In fact, this ultimate crypto scanner empowers you to run predetermined or unique strategies with just a couple of clicks. In response, Token Explorer generates a dynamic list of tokens with potential that you can then easily research using their Moralis Money token pages.
Get going with Moralis Money’s crypto analysis tools today! It’s your time to become a successful crypto trader/investor and never face liquidation in crypto again!
