Tellor (TRB) is a decentralized oracle network that brings together token holders, data providers, and validators in a permissionless community. The system provides Ethereum smart contracts with trustless access to off-chain information. Users can request the value of a specific data point and miners can then compete to add that value to an on-chain data bank.

Tellor Tributes (TRB) are the native tokens of the system and are used in its governance and to incentivize miners to provide data. The price of TRB has changed significantly since it launched and if you want to know why then you’re in the right place. We’ve compiled all the information you need to get a better understanding of TRB price – as well as the factors which influence it.

Tellor Price History

TRB began trading in November 2019 at around $2. Its price climbed sharply in the first half of December, reaching a peak above $7, before retreating to $4 by the end of the year. TRB spent most of January 2020 in decline, falling to a low of around $2.20, after which prices began to rise, breaking above $7 again in the first week of March. Prices collapsed back down to $3 a few days later but then started to climb once more.

Over the next few months, TRB made steady gains and had reached $12 by the end of July. August saw much steeper growth as prices doubled in the first eight days, before surging to a peak of $91.80 at the end of the month. TRB soon crashed back down to below $30 a week later and continued declining until hitting a low of $12.82 in October. In November, TRB managed to reach a high of $35, but prices then began to fall again. By the end of the year, TRB was worth $17.74, representing gains of about 350% since the start of the year and a loss of over 80% since the peak in August.

Prices immediately began to climb in 2021 as TRB regained $30 in January. The first half of February saw TRB reach a peak above $64 before falling back to $30 in the second half. The rally resumed in March as TRB rose to $96 at the end of the month. A volatile April then saw prices reach $100 for the first time, as well as dropping back below $50.

Another surge of bullish momentum at the end of the month continued into the start of May, taking TRB up to its all-time high of $166.15, providing year-to-date gains of over 830%. By that point, Tellor had a market cap of about $200 million. This peak was followed by a sharp decline, which included a single-day crash of 40% when TRB touched lows around $36.50.

Analyzing Tellor Price History

Tellor price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With TRB, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. The team behind Tellor has extensive blockchain experience as they previously built Daxia, a derivatives protocol on Ethereum. This could be a good sign for Tellor’s fundamentals.

Broader market trends have also played a role in Tellor price history. Its surge at the start of 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

TRB’s sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

TRB’s price collapse back in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole crypto sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The overall price trend of TRB tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Tellor (TRB)

A variety of different things can affect TRB price, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

TRB has no capped max supply as it is subject to inflation. This could mean that TRB isn’t a good store of value in the long term as its price will fall unless demand for the token increases to keep up with its growing supply.

A major source of demand for TRB will be from Tellor users as it is used to request data and pay the miners that provide it. TRB can also be used to dispute data submissions and govern system upgrades.

There will be additional demand for TRB from the miners as they are required to place a TRB security deposit in a Tellor smart contract before they can start mining. This protects the system as miners who submit bad pieces of data could have their stake slashed.

Demand for TRB is therefore likely correlated with the number of users and miners on the Tellor network. As such, any future developments or integrations that drive Tellor adoption could boost TRB price.

Live Tellor Value and Market Cap

The live price of TRB varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given TRB’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Tellor is equal to the price of TRB multiplied by the number of TRB in the circulating supply.

Tellor Price FAQ

How is the price of TRB calculated?

TRB’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying TRB than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of TRB different on each cryptocurrency exchange?

TRB’s price is based purely on trading as there is no standard global Tellor price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affects the price.

What will TRB be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of TRB. However, as demand for TRB is correlated with the number of users and miners on the Tellor network, future integrations that drive Tellor adoption could boost the price of TRB.

Conclusion

The price of Tellor (TRB) has seen significant change throughout its history, going from lows of below $2 to highs of over $166. Its price movements have rarely been smooth, however, as TRB’s volatility has led to plenty of surges and crashes along the way.

Many different factors have played a role in determining the price of TRB, including demand for data requests, the number of miners on the Tellor network, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Tellor and cryptocurrencies!