Tellor’s TRB Token: Rising Star in Crypto

Over the past thirty days, Tellor’s native token’s (TRB) price has increased by more than 150%, making it the altcoin with the most significant price appreciation.

According to CoinMarketCap, TRB has entered the top 150 cryptocurrencies by market capitalization.

The token’s price increased by more than 750%, making it the most profitable in the preceding three months. At the time of publication, TRB was trading at $82.3 and had a market cap of $202 million.

According to analysts at blockchain company Santiment, the price increase occurred as network activity around Tellor reached an all-time high, generating over 50 unique transactions per day with a total value of more than $100,000.

According to Santiment, TRB also experienced an increase in daily active addresses on October 23, reaching 504 for the first time.

Nevertheless, despite the multi-week rally, TRB is exhibiting signs of overheating as negative funding rates emerge.

According to data from Coinalyze, funding rates on TRB futures on four cryptocurrency exchanges—Binance, ByBit, Huobi, and OKX—turned negative, averaging -0.38. This may indicate that traders are willing to pay longs to maintain their bearish bets.

The reversal has already begun, as the Tellor price dropped approximately 15% within an hour after reaching $98.

Tellor is a decentralized, permissionless oracle based on the Ethereum blockchain and other sidechains that provide access to off-chain data for decentralized applications.

While Chainlink and Tellor may appear very similar, Tellor has bet on decentralization by allowing anyone with 1,000 Tellor to set up a node and provide data to an oracle.

Chainlink, in contrast, only permits data submission from whitelisted nodes.