Tellor is a decentralized oracular network; An unauthorized community of token holders, data providers, and validators. These aspects work together to cryptographically secure by putting real-world data on-chain.
An oracle is essentially a link between blockchain and the outside world, which in Tellor’s case, is decentralized and permissionless.
The TRB token is the utility token that powers the Tellor ecosystem, where they are commonly used as an incentive for miners.
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Tellor (TRB) Price Forecast for the next 90 days
Below we take a look at Tellor and examine some details and forecasts to estimate a reasonable price for 2021, as well as for the coming years. It should be noted that while price forecasts are data-driven and are often analyzed by AI, they should never be taken as financial advice or a solid foundation for an investment. Users are always advised to do their own research on the projects they wish to invest in.
The entire cryptocurrency world is on the verge of a real bear market. Bitcoin has tumbled 50% from its all-time high amid broader market declines influenced by furious inflation and US Fed rate hikes.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2022, especially in the second half of the year. This is reflected in our forecast for 2022.
Right now, Bitcoin needs to find a local bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Fundamentals
Use case
TRB is used as a utility token in the Tellor ecosystem, but to understand the role it plays, you need to understand how the platform itself works.
First, the data is queried, and those queries become PoW (proof-of-work) and are set to be extracted by data providers. Next, the PoWs are transformed into data updates and chained into a readable data feed.
Now, in
order for users to request specific data queries to update in the next block, they need to add a TRB hint, these suggestions are used as incentives for miners to choose a particular query. In addition to requests, all submitted data is subject to dispute, provided that the user opening the case holds the TRB token.
Tokenomics
According to data collected by Coinmarketcap and Messari:
Total bid is at ~1,773,105 TRB with no maximum supply determined
Of this amount, ~1,693,860.61 TRB is in circulation
The inflation rate cannot be determined so far
Some additional data
Coinmarketcap currently ranks its market dominance at ~0.01% and ranks it at #344
Messari currently ranks its market dominance at ~0.00555%
According to Coinmarketcap, there are currently ~3,492 addresses
The term “total supply” differs from “maximum bid”. When a maximum supply is determined, it means that that particular amount is the maximum amount of tokens that will ever exist, i.e. those tokens will never be minted again. In the case of TRB, no maximum bid has been determined so far, which implies the possibility of another coinage in the future, which in turn could lead to inflation.
Team
Tellor was founded in early 2018 by Nicholas Fett, Brenda Loya and Michael Zemrose and has grown, according to the founders, beyond them, to become an permissionless community of data providers, validators and token holders.
Originally working on Tellor as a tool for Daxia, after realizing its potential, they decided to make it their own. Despite being designed for something else, due to Oracles’ flexible nature, it can not only stand out on its own, but can also continue to evolve with new features.
On Twitter, they post general updates and, occasionally, tutorials almost daily. They also tweet their latest community call videos which they upload to their YouTube channel, where they discuss relevant topics, news, and answer community questions posted on the main Tellor chat.
On Medium they publish their
updates in short articles of 2-8 minutes and on Github they publish the more technical side of their work.
A red flag to always pay attention to from projects is overpromises, whether it’s advertising token prices or promising more features than they offer. In the case of Tellor, this is not the case; They seem to be focused on their work, and while celebrating achievements and milestones, they don’t overdo it.
Their branding is simple, without going much into logos and images, and their tone of voice is casual and updated, with the occasional humorous language. On the one hand it makes them more professional and work-oriented, on the other hand they can find it difficult to attract new and blurred eyes.
Community
Their Twitter has ~22,200 followers at the time of writing, where their tweets consistently see over 50 likes, plus some comments and retweets, so the activity can be described as moderated for an account of this size.
On Medium they have ~500 followers and their articles receive anywhere from 100+ to 400+ likes indicating a healthy following and attention span. Similarly, despite only having ~730 subscribers on YouTube, their videos get hundreds of views.
They have ~4,300 members on
their Discord server and ~6,300 members on Telegram. Finally, on Reddit they have ~930 members, where they post several times a day.
Overall, it has a rather small but relatively active community, which is understandable considering that they are not the flashiest projects. On the upside, Tellor does a great job of engaging his community, an example of this would be Tellor Core Chat (where community members ask questions) and Tellor Community Call (where they respond on YouTube).
Wallet Exchanges and Support
There are currently ~27 exchanges listing Tellor, and far fewer wallets supporting it, about 4 that are widely trusted and well known.
Tellor [TRB] Price Prediction 2022
Our forecast model predicts a temporary shift to a bear market in early 2022 before moving to another lead in Q3 and Q4 of 2022.
TRB Price Prediction 2025 – 2030 – 2040
Our forecast model sees TICKER faltering in 2025, falling towards $0 per coin.
The price of Tellor in 2030 and 2040 could be close to zero as we don’t see a bright future for it in the distant future.
TRB Price Prediction – Summary
Given the data obtained above, we can expect a slight to moderate increase in the TRB price. Identifying the exact prices is impossible and prices are unpredictable, especially considering the differences in the percentages mentioned above.
Where and how to buy TRB
TRB can be purchased on ~27 exchanges, including Coinbase and Binance; the process of buying cryptocurrencies can differ from one exchange to another, so here’s a solid guideline for buying TRB:
- Select an exchange that supports TRB and verify KYC (account verification) requirements and available payment methods.
- Create an account on your preferred exchange.
- Buy TRB with your preferred payment method.
Already have an account on an exchange that supports TRB?
- Buy TRB with your preferred payment method.
- Exchange some of your tokens for TRB.
When buying or trading tokens, some exchanges may have minimum amounts; Usually these amounts are $10-$20 in the token equivalent. In addition, most exchanges issue commissions for purchases and swaps, these fees and their conditions differ from platform to platform, which is why it is worth comparing them to minimize costs.
TRB Wallets
Some major exchanges offer wallets for the tokens they support. Having a wallet means having the ability to transfer tokens to and from your account, and not simply owning them solely on an exchange.
Here are some exchanges/wallets that offer a TRB wallet:
- Coinbase
- Binance
- Trust Portfolio
- MetaMask
It is important to keep in mind that not all exchanges offer users the private keys of their wallets, which means that although the tokens still belong to the user, they are eventually stored on the exchange. In addition, some exchanges may have minimum withdrawal amounts and withdrawal fees in place, and these fees differ from exchange to exchange. Deposit fees are extremely rare, as exchanges want to encourage users to store assets on their platform.
Summing it all
up
Oracles play an important role in the cryptocurrency world, as smart contracts need them to operate with the world outside of their respective blockchains, and Tellor seems to have proven to be a worthwhile choice.
It is not the only decentralized oracular network, and not the most popular, and these may present themselves as challenges in the future. While price predictors collectively predict growth, these factors must be taken into account before jumping and making an investment.
