Is Tellor (TRB) a Good Investment? – Cryptopolitan (2024)

TRB Price Prediction 2023-2031

• TRB Price Prediction 2023 – up to $24.25
• TRB Price Prediction 2025 – up to $52.98
• TRB Price Prediction 2028 – up to $167.05
• TRB Price Prediction 2031 – up to $523.84

What’s up with Tellor (TRB)? Lead Solidity Developer Tim Kernell reviews a sample usingTellor, as an example smart contract repository built to showcase how integrating Tellor works:

The Global Defi Conference hosted by @TechCircus_ 27-28 April 2022 was focused on the rise of DeFi technology and the impact of decentralized finance. Blockchain technology proved to be rapidly incorporating its way into every aspect of finance, and DeFis are impacting today’s world.

The volatility ofcrypto prices hasled to the fragility of theDeFimarket, and with it, massive automatic liquidations inDeFiprotocols. TRB price predictions can go south, but here’s the main thing: further developments could push the value of Tellor TRB higher.

Today’sTellor priceis $13.76 with a 24-hour trading volume of $5,704,113.Tellor is up 1.25% in the last 24 hours.The current CoinMarketCap ranking is #435, with a live market cap of $31,224,860.It has a circulating supply of 2,269,010 TRB coinsand the max. supply is not available.

According to Coinbase, the price ofTellorhas fallen by 6.69% in the past 7 days. The price increased by 0.12% in the last 24 hours. In just the past hour, the price shrunk by 0.68%. Let’s see if this TRB Price Prediction can help you decide on future action.

What is Tellor TRB?

Nicholas Fett, Brenda Loya, and Michael Zemrose co-founded Tellor in early 2018. When it comes to Tellor, it is more than just a group of investors or just an oracle. It comprises a community of data producers, validators, and token holders to form a permissionless network that uses bitcoin to guarantee the blockchain’s record-keeping mechanism for real-world data.

Tellor’s oracle is essentially a permissionless, decentralized interface between blockchains and the real world. TRB is often employed as a mining incentive in the Tellor ecosystem as a utility token.

TRB’s internal procedures

Crypto watchers are a mixed lot, but we can say that those who watch crypto exchanges and crypto events tend to benefit a lot. For example, take a look at the TRB coin of the Tellor Tribute platform.

Tellor biggest bull run started on Nov 10th, 2019, and ended on Dec 12th, 2019. During this time, the price of Tellor increased from 0.1823 USD to 7.1404 USD, resulting ina return of 3817.6 %.

When it was first listed in Binance, its price started shooting up slowly, then up to ~$75 in August 2020.

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 ~$60, but a major technical failure in February sent it tumbling back down to around $35 and even lower.

TRB spiked after Tellor’s listing on Coinbase in early May 2021, 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. What’s in store for TRB, the native currency?

TRB Price History

ETH’s smart contracts don’t need off-chain data since they’re entirely self-contained. As a result of Tellor’s approach, parties may demand the value of an off-chain data point (such as ETH/USD), and miners compete to put that value into an on-chain data bank available to all Ethereum smart contracts.

A network of staking miners guards the series’ inputs to prevent unauthorized access. The core Tellor smart contract builds a time series of all required data to become the primary source of high-value data for the decentralized application. These alternative cryptocurrency systems use Tellor’s token, Tributes, produced by the oracle “Tellor,” to demand a particular data series from the miners.

Crypto watchers are a mixed lot, but we can say that those who watch crypto exchanges and crypto events tend to benefit a lot. For example, take a look at the TRB coin of the Tellor Tribute platform. When it was first listed in Binance, its price started shooting up slowly, then up to ~$75 in August 2020.

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 ~$60, but a major technical failure in February sent it tumbling back down to around $35 and even lower.

TRB spiked after Tellor’s listing on Coinbase in early May 2021, 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. What’s in store for TRB, the native currency?

TRB New Developments

The Teller TRB team has been active on social media platforms to update their network users on the latest developments. Through their official Twitter Channel, TRB has announced the exciting news that the Teller team has launched their initial testnet deployment of Tellor360 to 0xPolygon Mumbai Testnet.

The team published a blog to clarify the changes suggested in the recently launched Tellor360 upgrade. They first suggested a TellorFlex upgrade for the mainnet. For all chains other than Ethereum, this entails modifying the name of the TellorFlex structure.

The token’s separation from the oracle contract is the primary distinction in this instance. This modification is entirely structural, and TRB will continue to work as it now does to streamline Teller’s architecture between chains and boost decentralization via modularity on the mainnet.

According to the blog, other essential areas they proposed to change are removing any upgradeability (fully modular), redoing governance (make similar to polygon governance), stake amount fixed in dollar terms, messaging/branding changes, and monitoring teller’s changes. This involves Tellor360’s flexible incentive structure (vs. timeBasedRewards) should herald an entirely new set of reporters making desired inquiries across multiple networks as part of the monitoring Telliot modifications.

TRB Technical Analysis

Tellor has been outperforming in the last few days, and it can soon flash a tremendous high in the future as it aims to end the current bearish trend with an overwhelming bullish comeback. However, the collapse of the popular crypto exchange FTX has created a black eye in the crypto market, pushing whale investors into liquidating massive holdings and putting extreme selling pressure on the price chart. Hence, our current Tellor price prediction aims to bring you an in-depth technical analysis using advanced technical indicators to help you decide the best investment option amid the bearish market trend.

According to CoinMarketCap, the current price of TRB coin trades at $13.15, with a downtrend of nearly 4% from yesterday’s performance. Our TRB crypto technical analysis reveals that this digital asset may soon ignite an uptrend to new highs by the end of 2022 as it makes a significant recovery rally following the positive sentiment of the cryptocurrency market. Looking at the daily price chart, Tellor struggles to break its prolonged consolidation range above its EMA-50 trend line at $13.76 as it has been severely impacted by the overall bearish trend of the altcoin market. The EMA-20 trend line has dramatically dropped from its previous resistance level of $16.03 to $12.42, trapping the TRB coin under intense bearish domination. TRB price currently trades near an extreme fear zone which was brought about by FTX’s collapse, creating an uncertain situation for investors. However, TRB has barred itself from falling further as it has built strong support at $12.5, from which the coin is making a slight upward retracement to its 23.6% Fib retracement. The Balance of Power (BoP) indicator trades in a negative region of 0.33, hinting at a further bearish consolidation before making any reversal in the TRB price chart.

The popular indicator RSI-14 trades on the edge of a bullish region at the level of 48, which may push TRB to test its resistance near the 31.6% Fib levels. Moreover, the MACD line forms an upward trajectory in the chart as it sparks bullish candles above the signal line, signifying the bulls’ domination for TRB. The SMA-14 looks promising as it consolidates near the 53-level, which may ignite a short-term bullish retracement for TRB to resistance levels. If the Tellor coin breaks above its EMA-50 trend line, it may ignite a smooth uptrend to its Bollinger band’s upper limit of $15.3, above which it may make an attempt to break its strong resistance of EMA-200 at $18. Conversely, a further downfall for TRB is expected if it drops below the crucial support level of $12; below this price level, Tellor may speed up for a sharp collapse as it can trade near its Bollinger band’s lower limit of $9.1. If Tellor’s price fails to hold above $8.4, it may accelerate for a more bearish bloodbath and trade near $4.7.

TRB Price Prediction By Cryptopolitan

As the altcoin market has felt a bearish shockwave from FTX’s demise, TRB has witnessed extreme bottom levels in the last three months. TRB has failed to provide any significant bullish hopes to long-term holders this year as it faced several macro conditions that wiped its future expectations of the TRB community. This year, the TRB price has been impacted due to low supply chain providers, which created less interest in investors in investing in this coin. However, Tellor maintained a stable price momentum among major altcoins of the market any other altcoins in the market as its Tellor360 upgrade on the Ethereum network attracted massive growth for the platform with a high expectation of incredible prices in the future and a smooth merge with the crypto economy. As the global crypto market is set to increase by $241 million in 2023, top-performing altcoins will significantly go beyond expectation, and TRB will be no exception in pushing its price to the North.

TRB Price Prediction 2023

In 2023, TRB cryptocurrency’s price will reach a maximum level of $24.25, with an average trading price of $20.34, and a minimum price of $19.76

TRB Price Prediction 2024

TRB may skyrocket in the near future and is projected to touch a maximum price of $34.59. According to our technical analysis, TRB’s price might consolidate and record a low of $29.71, with an average price of $30.72.

Tellor Price Prediction 2025

In 2025, it is expected that the maximum trading price of 1 Tellor token will be worth $52.98. The average TRB token price is expected to be around $45.96 in 2025. TRB’s price can touch the bottom at $44.73.

TRB Price Prediction 2026

The TRB platform is actively acquiring partnerships and expanding its offerings to different sectors, which can bring a potential high of $77.50, with an average trading price of $67.43. It is anticipated that the TRB price will register a low of $65.14.

TRB Price Prediction 2027

TRB may experience a bull market and show its actual bullish strength as it is projected to touch a maximum price of $116.27, with an average trading price of $98.95. However, Tellor forecast a low of $95.57 by the end of 2027.

TRB Price Prediction 2028

In 2028, Tellor token holders may be rewarded with a profitable ROI as the price of TRB is expected to reach a maximum level of $167.05, with an average trading price of $143.77. However, our technical analysis reveals that TRB may reach a minimum price value of $138.82.

TRB Price Prediction 2029

Our TRB price prediction states that its price is anticipated to hit a maximum level of $250.82. The average price of the TRB coin is predicted to be $213, with a minimum price of $207.25.

TRB Price Prediction 2030

The crypto market may soon pull out from the current bearish mud as several experts believe in a bullish trend in the next few years. In 2030, it is expected that the TRB token price may witness a massive price pump as its maximum value may be around $359.97, with an average trading price of $312.47. TRB may touch a minimum value of $303.95 if it retraces downward.

TRB Price Prediction 2031

TRB is poised to bring a massive wave to investors’ crypto portfolios as the token has a bright future ahead with robust fundamentals. The price of TRB is projected to reach a maximum value of $523.84, with an average trading price of $454.03. The minimum trading price of TRB is predicted to be $441.53 by the end of 2031.

TRB Price Prediction by Wallet Investors

Wallet Investor’s TRB price prediction looks like a lousy investment option as the website predicts TRB to reach an average trading price of $0.9027, with a minimum price of $0.451 and a maximum price of $1.354 by the end of 2023.

TRB Price Predictions by DigitalCoinPrice

According to DigitalCoinPrice’s Tellor price forecast, the price of TRB is expected to surpass the level of $30.53 in 2023. By the end of the year, Tellor is expected to reach a minimum value of $27.90. In addition, the TRB price may reach a maximum level of $31.45. In 2028, TRB is expected to exceed the level of $88.25. By the end of the year, Tellor may reach a minimum price of $87.52. In addition, the TRB price is capable of securing a maximum level of $92.82.

TRB Price Prediction by Trading Beasts

Trading Beasts’ Tellor price predictions state that the Tellor price is predicted to reach $12.676 by the beginning of January 2023. The expected maximum trading price is $15.845, with a minimum price of $10.774. The Tellor price prediction for the end of the month is around $12.676. The website further predicts that the minimum price of TRB is expected to touch $24.582, with a maximum price of $36.150 and an average trading price of $28.920.

TRB Price Prediction By Market Sentiments

The ongoing massive price fluctuation in the TRB token price chart has drawn the attention of several analysts around the crypto space to give their opinions about Tellor’s future price movements. TRB token has received mixed predictions from the market, where the bullish ones expect a value for the token above $1000 in the next few years. A prominent YouTuber, Crypto.01, predicts that TRB’s price may witness a price rise to $1K in the next altcoin bull run.

Another crypto influencer, popular crypto analyst Daily Altcoin, “TRB is one of the most promising altcoins with a ton of upside potential.” He also stated that he thinks the token could reach $20.08 by the start of 2023.

Conclusion

Blockchain technology may have the potential to evolve the world economy, but without access to off-chain data, it would not be easy to find real-world use cases. This is where Tellor comes in as it resolves the oracle problem and answers the question of the speed and cost of using oracles for connecting off-chain data to smart contracts.

The value of Tellor is also seen in its ability to provide a smooth experience for users despite high congestion on Ethereum. Network participants are rewarded for their contribution to accurate data, which makes the Tellor network an even more worthwhile project.

Although Tellor appears to have established itself as a viable option, it’s not the most well-liked one, and this might pose difficulties in the future. The predictions mentioned above make it evident that Tellor (TRB) forecasts are rather incoherent. Regarding upcoming TRB price fluctuations, whether favorable or negative, there is no general agreement.

Indeed, a variety of elements, including announcements, new technological advancements made by Tellor projects, the overall crypto ecosystem, legal status, and others, will influence the potential development in the future. However, cryptocurrency investments are a high-risk business, and these predictions are not investment advice.

As Tellor’s team is dynamic and active in enhancing the project, TRB may surpass its previous all-time high and mark a new bullish trajectory.

The above projections are based on the analysis and tracking of historical data. Investors are advised to do their own research and due diligence before investing in cryptocurrencies.