Tellor Tribute (TRB) is a utility and governance token that powers Tellor – a blockchain oracle service that provides a way to bring off-chain data into the chain to be used by dApps in the DeFi space. Tellor was launched in 2019.
Typically, blockchain is a closed system that only accepts the information that is already in the chain. But developing and executing really useful smart contracts often requires data from the “outside world” such as current exchange rates, otherwise their usefulness is quite limited. Tellor as an oracle solves this problem by allowing users to request data and add it to the chain using a trusted network, which provides incentives to add honest data. The network is secured with Proof-of-Work (PoW) protocol and staking.
To make a request, TRB token holders add TRB “tips” about the types of data they want to update. Tips are counted every five minutes and 5 requests that have received the most funds are grouped into one block for mining. The first five miners who provide both the PoW challenge solution and the requested data themselves will receive rewards. Half of the picks will be shared between the 5 winners while the other half will be burned which helps keep the scarcity going. A TRB holder can then dispute the data (for a fee), whereupon other holders can vote on the dispute. The token is also used for governance.
TRB’s launch in 2019 was pretty quiet as the price hovered around the $ 3 to $ 4 mark and rarely broke $ 5. This went on until the end of July 2020 when the price began to rise for the first time – slowly at first but soared to ~ $ 75 in August after the Binance listing. After a correction in the fall of that year, TRB traded at $ 20-25 for a period. The price started rising again in January 2021, hitting as high as ~ $ 60, but a major technical bug in February brought it back down to around $ 35 and even lower. After the problem was resolved, the price of TRB quickly recovered. After Tellor was listed on Coinbase in early May, it soared, reaching a spectacular $ 163.76 named Tellor X on May 10th.
Despite the fact that 100% accurate technical analysis is hardly possible for Tellor cryptocurrency, this advanced technical analysis tool from TradingView allows you to view the aggregated TRB buy-and-sell rating in real time for a selected period of time. The summary for TRB / USD is based on the most popular technical indicators – moving averages, oscillators and pivots.
Below we have compiled the most reliable price predictions for Tellor (TRB) from popular forecasting platforms.
According to WalletInvestor, the Tellor price will rise from $ 36.287 to $ 85.705 in one year. That makes TRB a great investment. The long term earning potential is 136.19%. The projected price for the end of 2026 is $ 265.301.
When asked if Tellor is a good investment, TradingBeasts answered a resounding yes. Looking ahead to 2021, this coin price is projected to hit $ 38.122 and rise to $ 39.792 by the end of 2022.
In the DigitalCoin analysis, the price of the Tellor cryptocurrency will increase from $ 36.2452 at today’s price to $ 151.8262164 over the next 5 years. It will rise to $ 58.8210158 by 2022 and will continue to grow in 2023-2024. Based on this forecast, Tellor is a profitable long-term investment.
As can be seen from the analysis cited above, the Tellorian (TRB) projections are quite contradictory. There is no universal consensus on positive or negative future TRB price movements. In fact, the future possible growth depends on various factors: announcements, new technological solutions of the Tellor projects, the crypto environment in general, legal situation and so on. We kindly remind you that it is essential to do your own research (DYOR) before investing in a cryptocurrency.
Disclaimer: This article should not be viewed as a trading recommendation. The cryptocurrency market suffers from high volatility and the occasional random movement. Every investor should research multiple viewpoints and familiarize themselves with all local regulations before committing to an investment.
SwapSpace is a cryptocurrency exchange aggregator that makes it possible to exchange over 450 cryptos with fixed and variable interest rates. We collect the prices of the major crypto exchanges on the screen and let our users compare and choose the option they like the most. We do not charge any fees above the tariffs of the partners, which makes exchanges via SwapSpace profitable. The exchange time is no longer than any of our integrated services of 10 minutes or more. SwapSpace support works around the clock.
Are you interested in crypto and want to receive more news and price predictions every day? Join the SwapSpace blog!
NuCypher price prediction
Shiba Inu price prediction