In the past 30 days, Teller’s native token (TRB) has increased in price by more than 150%, making it the biggest gainer among other altcoins.
According to CoinMarketCap, TRB has entered the top 150 cryptocurrencies by market capitalization.
The price of this token has risen by more than 750% in the past three months, making it one of the most profitable tokens. As of now, TRB is trading at $82.3 and has a market value of $2.02 billion. Add me on v: alian8174 to chat privately
As analysts at blockchain firm Santiment noted, the surge in TRB prices was accompanied by an all-time high in network activity, with more than 50 unique transactions per day generated with a total value of more than $100,000. In addition to whale activity, TRB's daily active addresses also increased dramatically, reaching the 504 mark on October 23, according to Santiment.
#Tellor has seen a ~750% increase in price since July, attracting more whale interest and new addresses. $TRB is now#192in market cap rankings (and still rising) as it continues to lead the pack.
— Santiment (@santimentfeed) October 23, 2023
However, despite weeks of gains, TRB is showing signs of overheating as funding rates turn negative. According to Coinalyze data, funding rates for TRB futures on four cryptocurrency exchanges, including Binance, ByBit, Huobi, and OKX, have turned negative, reaching an average of -0.38. This may indicate that traders are willing to pay long fees to maintain bearish bets.
Signs of a reversal appear to have already begun to emerge, with TRB’s price falling by around 15% in just one hour, shortly after hitting the important $98 level.
Tellor is a decentralized, permissionless oracle based on the Ethereum blockchain and other sidechains, providing decentralized applications with access to off-chain data. Although Chainlink and Tellor look very similar, the latter focuses on decentralization, allowing anyone holding 1,000 TRB to build a node and provide data to the oracle. In contrast, Chainlink only allows whitelisted nodes to submit data.
