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Tellor

TRB

4.3

Price
$15.65
10/1/2022, 10:32:25 PM
diamondHands

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Market

Market stats

Market cap

$35.5M

Volume (24h)

$5.3M

Circulating supply

2.3M TRB

Typical hold time

19 days

Popularity

#152

All time high

$163.76

Price change (1h)

-0.31%

Price change (24h)

-4.24%

Price change (7d)

+4.13%

Trading activity

61% Buy0% Buy
39% Sell100% Sell

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Tellor is on the rise this week.

The price of Tellor has risen by 4.13% in the past 7 days. The price declined by 4.24% in the last 24 hours. In just the past hour, the price shrunk by 0.31%. The current price is $15.65 per TRB. Tellor is 90.44% below the all time high of $163.76.

The current circulating supply is 2,269,009.97 TRB.

About

Tellor is a decentralized oracle protocol that allows smart contracts to trustlessly receive external data. Oracles are a key part of blockchain infrastructure that update valuable real-world data, making it available for on-chain smart contracts. TRB (a.k.a. “Tributes”) is an Ethereum token that powers the Tellor network and incentivizes honest reporting of external data.

What Is Tellor (TRB)?

Tellor (TRB) is an oracle network that connects smart contracts on Ethereum to external data. This means the Tellor network is used for answering any question of any format on-chain. The network is secure, transparent, and designed for decentralized applications (DApps) based on Ethereum. The network aims to become a reliable and stable off-chain data provider being trustless and decentralized. 

Generally, crypto users have to search through many exchanges to find live market data and relevant information. Further, the smart contracts developed by exchanges don’t have access to trustless off-chain data. To address this, the Tellor network was developed that allows smart contracts to connect with on-chain data. Tellor has created an ecosystem where users can access fact-checked information. In simple terms, the project is made to solve the problems of oracles.

Running on Ethereum, the Tellor network is composed of interconnected “reporters” who work on providing the on-chain data. As per the whitepaper, these reporters are the bonded set of miners that provide answers to questions on-chain for others to use without any cost. Working on the proof-of-work mechanism, the reporters compete to record that data on-chain whenever the data is requested. The reporters, in turn, are incentivized for honest reporting. This is how the network is secured and made trustless and decentralized.

Coming to the token, TRB is the native token of the Tellor network and serves as the platform’s cryptocurrency. According to the website, TRB is an ERC20-based utility token primarily used to incentivize the reporters. The token is rewarded to data reporters to submit timely and accurate data. Moreover, the token is also used as a governance token of the platform. The TRB holders can vote on data disputes, upgrades to the network, monetary policies, mining rewards, etc.  

Controlled and run by the community, the Tellor network has several use cases:

  • Price Feeds: The network gives feeds like BTC/USD or ETH/USD.

  • Predictions Market: Here the users can speculate on worldly events.

  • Bridging Assets: Here, for example, users can bring BTC block headers to Ethereum.

  • L2 Security: It can be used for data availability sequencer validation.

History of Tellor (TRB)

Based in the US, Tellor was cofounded by Brenda Loya, Micheal Zemrose, and Nicholas Fett in 2019. 

Loya, the CEO, was a former economist for the US government. She has vast experience in data science and blockchain.

Zemrose, the CSO, is an expert in developing, executing, and sustaining strategic initiatives.

Fett, the CTO,  is experienced in derivatives and economics. Before Tellor, he founded Daxia, a derivative protocol on Ethereum.

How Are New Tellor (TRB) Tokens Created?

As already discussed, Tellor is a network of reporters that use a proof-of-work mechanism to validate the transaction and secure the network. The reporters are the staked miners. As per the whitepaper, to become a reporter, the user has to stake 100 TRB tokens. These TRB tokens are locked until the reporter requests to withdraw them. 

Once the reporter submits their deposit, they can start competing to answer the questions provided on-chain. These questions can be anything, like ETH/USD, Bitcoin block header information, weather data, etc. After providing answers, the reporters are rewarded TRB tokens. 

So, although the Tellor network is dependent on mining, the process is conducted by miners who have staked their tokens in the system. 

How Many Tellor (TRB) Tokens Are There?

There is no cap on the maximum TRB tokens to be issued. The TRB is deflationary in nature, i.e., the tokens are burned to an unrecoverable wallet and are put out of the total supply. This deflationary nature makes the TRB token increase its value over time. Thus, the total number of TRB tokens in the market is volatile and keeps changing.

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Social

Tellor on social media.

Tellor was mentioned in 315 out of 1,810,058 social media posts on Twitter and Reddit on Sep 30, 2022. 214 unique individuals are talking about Tellor and it is ranked #316 in most mentions and activity from collected posts.

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Key indicators

Contributors

214 people

Posts

315 posts

Dominance

0.02%

Volume rank

#316

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FAQ

What is the current price of Tellor?

The price of 1 Tellor currently costs $15.65.

What is the market cap of Tellor?

The current market cap of Tellor is $35.50M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Tellor?

The all-time high of Tellor is $163.76. This all-time high is highest price paid for Tellor since it was launched.

What is the 24 hour trading volume of Tellor?

Over the last 24 hours, the trading volume of Tellor is $5.26M.

What other assets are similar to Tellor?

Assets that have a similar market cap to Tellor include RichQUACK.com, Illuvium, XeniosCoin, and many others. To see a full list, see our comparable market cap assets.

How many Tellor are there?

The current circulating supply of Tellor is 2.3 million.

What is the typical holding time of Tellor?

The median time that Coinbase customers hold Tellor before selling it or sending it to another account or address is 19 days.

What is the relative popularity of Tellor?

Tellor ranks 125 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Tellor?

Currently, 61% of Coinbase users are buying Tellor. In other words, 61% of Coinbase customers have increased their net position in Tellor over the past 24 hours through trading.

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