Tellor coin (TRB) seems to have attracted particular attention from investors in the past two months. The price has risen sharply from $10 on August 25 to $110 on October 25, with a price increase of more than 1,100%, and is still rising due to the purchasing power of dealers.
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Tellor Coin (TRB) current price is $117
According to CoinMarketCap, Tellor’s price has increased by more than 150% over the past 30 days, making it the fastest-growing altcoin among all altcoins.
What is Teller (TRB)?
Tellor (TRB) is the native token of the Tellor cryptocurrency oracle network. Decentralized on the blockchain that connects smart contracts on Ethereum with external data. The Tellor network is designed for Ethereum Dapps with a focus on decentralized finance, security, and transparency.
Crypto network users usually have to go to an exchange to check market conditions. The exchange has an API that allows users to track trusted data sources, but Tellor will help users get all the information they need in one place through smart contracts on Ethereum with Tellor oracle sources. Oracles collect trusted and verified off-chain data in real time, so users can get accurate market information without having to visit the exchange website.
Why did Tellor (TRB) price increase 10 times in 2 months?
Analysts at blockchain analytics firm Santiment said the TRB price surge came as the Tellor network hit an all-time high in activity. It generated more than 50 unique transactions per day totaling more than $100,000. Tellor also saw an increase in the number of daily wallet addresses, reaching 504 addresses on October 23.
On the other hand, Lookonchain is a blockchain-based data collection platform. It pointed out that the main BOCAI company holds more than 30% of the TRB supply. And no tokens were sold when the TRB circulating supply was low. This situation is the main reason for the TRB price to rise by as much as 1,100% in two months.
According to the latest report from Binance FEED, TRB’s market cap has increased from $15 million to $236 million in the past two months. This puts Tellor Coin currently among the top 150 cryptocurrencies by market cap.
Additionally, the analytics firm noted that LINK, blockchain scaling solution Polygon (MATIC), layer-one blockchain Aptos (APT), and lending platform Aave (AAVE) have all witnessed “top performing decouplings” this year.
“Unlike Bitcoin’s two previous brief trips to $30,000, the latest resistance breakout at the end of the weekend occurred as altcoins surged, rather than lagging behind BTC’s price.”
LINK is the 14th ranked crypto asset by market cap and is trading at $10.31 as of this writing. MATIC is ranked 13th and is valued at $0.625. APT is ranked 35th and is currently changing hands at $6.23. AAVE, ranked 41st, is trading at $83.31.
