What is Tellor?
Tellor is a decentralized oracle network; a permissionless community of token holders, data providers, and validators. These aspects work together to cryptographically secure putting real world data on-chain.
An oracle is essentially a link between blockchains and the outside world, which in the case of Tellor, 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.
Tellor (TRB) Price Prediction For The Next 90 Days
Below we take a look at Tellor and examine some details as well as predictions to estimate a reasonable price for 2021, as well as for the upcoming years. It should be noted that while price predictions are based on data, and often are analyzed by AI, they should never be taken as financial advice or a solid basis for an investment. It is always highly recommended users do their own research into the projects whose tokens they wish to invest in.
Below is a tabular overview of how will TRB develop in the short-term (for the next 90 days), according to our prediction model:
TRB is used as a utility token in the Tellor ecosystem, but to understand the role it plays, one must understand how the platform itself works.
First, the data is queried, and those queries become PoW (proof-of-work), and they are set to be mined by the data providers. Afterwards, the PoW is transformed into data updates, and are placed on-chain in a readable data feed.
Now, in order for users to request specific data queries to be updated in the next block, they need to add a TRB tip, those tips are used as incentives for miners to choose a particular query. In addition to requests, all submitted data are subject to being disputed, provided the user opening the dispute holds the TRB token.
The total supply sits at ~1,773,105 TRB with no max supply determined
Of that amount, ~1,693,860.61 TRB is in circulation
Inflation rate cannot be determined thus far
Some supplemental data
Coinmarketcap currently ranks its market dominance at ~0.01% and ranks it at #344
Messari currently ranks its market dominance at ~0.00555%
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According to Coinmarketcap, there are currently ~3,492 addresses
The term “total supply” differs from “max supply”. When a max supply is determined, it means that that particular amount is the maximum amount of tokens that will ever exist, i.e., no more of those tokens will ever be minted. In the case of TRB, a max supply has not been determined thus far, which implies the possibility of another mintage in the future, which in turn could result in inflation.
Tellor was founded in early 2018 by Nicholas Fett, Brenda Loya and Micheal Zemrose, and grew, in the view of the founders, beyond just them, to a permissionless community of data providers, validators and token holders.
Originally working on Tellor as a tool for Daxia, upon realizing its potential, they decided to make it its own thing. Despite being designed for something else, due to the flexible nature of Oracles, it can not only stand out on its own, but can also keep on evolving with new features.
On Twitter, they post on an almost daily basis about general updates and every so often, tutorials. They also tweet about their latest community call videos that they upload on their YouTube channel, where they discuss relevant topics, news, and answer community questions posted on the Tellor Core Chat.
A red flag to always watch out for from projects are overpromises, be it hyping token prices or promising more features than they deliver. In the case of Tellor, that is not the case; they seem to be focused on their work, and while they celebrate accomplishments and milestones, they don’t overhype.
Their branding is simple, without much going into logos and visuals, and their tone of voice is casual and up-to-date, with the occasional humorous language. On one hand it makes them more professional and work-oriented, on the other hand they may find difficulty attracting new and unfocused eyes.
Their Twitter has ~22,200 followers at the time of writing, where their tweets consistently see over 50 likes, as well as a few comments and retweets, so activity can be described as moderate for an account this size.
On Medium they have ~500 followers, and their articles receive anywhere from 100+ to 400+ likes which indicates a healthy following and attention span. Likewise, despite having only ~730 subscribers on YouTube, their videos fetch hundreds of views.
Overall, it has a rather small but relatively active community, which is understandable considering they’re not the flashiest of projects. On the upside, Tellor does a great job at engaging with its community, one example of that would be the Tellor Core Chat (where community members ask questions), and Tellor Community Call (where they answer them on YouTube).
Exchanges & Wallet Support
Currently there are ~27 exchanges that list Tellor, and far fewer wallets that support it, around 4 that are widely trusted and well-known.
Tellor [TRB] Price Prediction 2022
Our prediction model sees a temporary switch to a bear market at the beginning of 2022 before we move onto another leg up in Q3 & Q4 of 2022.
Market price prediction
Here are what price predictors are forecasting for TRB:
According to Wallet Investor, they forecast a price of ~$156 (+203%**) within a year, and ~$524 (+920%**) within 5 years. They rank TRB as a C in terms of price predictability, which should not inspire confidence.
|2021 – 2022||2026|
Digital Coin Price
Digital Coin Price forecasts a price of ~$73 (+44%**) by the end of the year, and that of ~$189 (+273%**) after a period of 5 years.
According to Tradingbeasts, by the end of 2021 and 2024, TRB will reach ~$52 (+3%**) and ~$84 (+66%**) respectively.
*These predictions are merely supplemental data and should not be taken as financial advice
**Percentages are based on current value and could change anytime
TRB Price Prediction 2025 – 2030 – 2040
Our prediction model sees TICKER faltering in 2025, dropping towards $0 per coin.
Tellor price in 2030 & 2040 could be close to zero as we don’t see a bright future for it in the distant future.
TRB Price Prediction – Summed Up
Given the obtained data above, we can expect a minor to moderate increase in TRB price. Pinpointing exact prices are impossible and prices are unpredictable, especially considering the differences in the percentages above.
Where & How To Buy TRB
- Select an exchange that supports TRB and check for KYC (account verification) requirements and available payment methods.
- Create an account on your preferred exchange.
- Purchase TRB with your preferred payment method.
Already have an account on an exchange that supports TRB?
- Purchase TRB with your preferred payment method.
- Swap some of your tokens with TRB.
When buying or swapping tokens, some exchanges may have minimum amounts in place; usually these amounts are $10-$20 in the token’s equivalent. Additionally, most exchanges issue fees for purchases and swaps, these fees and their conditions differ from platform to platform, which is why it’s worth comparing them to minimize costs.
Some major exchanges offer wallets for the tokens they support. Having a wallet means having the ability to transfer the tokens to and from your account, and not just simply owning them exclusively on one exchange.
Here are some exchanges/wallets that offer a TRB wallet:
It is important to keep in mind that not every exchange offers users the private keys to their wallets, meaning that although the tokens still belong to the user, they are ultimately stored on the exchange. Furthermore, 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 crypto world, as smart contracts need them to operate with the world outside their respective blockchains, and Tellor seems to have proven itself as a worthwhile choice.
It is not the only decentralized oracle network, and not the most popular one at that, and these can present themselves as challenges in the future. While the price predictors collectively forecast growths, these factors must be taken into consideration before jumping in and making an investment.
Also, you might want to check out other price predictions:
- Waltonchain Price Prediction – Future Forecast For WTC Price
- Future Forecast for XRP Price
- Tezos Price Prediction
- Zilliqa Price Prediction
- Sia Coin (SC) Price Prediction
- Future Forecast for RDD
- Orion Protocol Price Prediction
- Kava.io Price Prediction
- Telos Price Prediction
- Telcoin Price Prediction
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com