simply put

  • Tellor (TRB) surged in value in May, doubling its market cap.

  • This growth is attributed to the increase in crypto whale activity in the TRB network.

  • Market experts expect the TRB price to have the potential for further upward trend.

Tellor (TRB) 市值飙升超过 70% – 是什么推动了增长？

In May, the decentralized oracle network Tellor (TRB) has significantly outperformed expectations, doubling its market cap at the beginning of the month. As of April 30, TRB had a market cap of $143.32 million. As of the morning Asian market hours on May 7, this figure has soared to an impressive $247.81 million.

This massive growth is consistent with a notable increase in crypto whale activity. Moreover, it suggests that a wave of profit-taking could be affecting market dynamics.

Uncovering the secrets behind Tellor’s surge in market value

Data from blockchain analysis platform Santiment shows a surge in crypto whale transactions and active addresses involving TRB. Specifically, on May 6, the number of daily active addresses was 212, and there were 16 whales with transactions exceeding $100,000.

This is in stark contrast to May 1, when there were only 131 active addresses and no major crypto whale transactions. However, this activity indicates growing investor interest and the potential to profit from TRB.

特勒 (TRB) 鲸鱼活动。

TRB whale activity. Source: Santiment

Despite this, cryptocurrency analysts remain optimistic about TRB’s price trajectory. Analyst Javon Marks highlighted Tellor’s market strength and expects a continued upward trend.

Marks commented: “TRB (Tellor) is now starting to show major strength after remaining in bullish mode and could still be poised for a massive 315% rally back to $261.”

He then reiterated his positive outlook, highlighting TRB's price reaction to recent patterns. This optimistic analysis is further supported by the observed technical patterns. Price action is forming higher lows, coupled with the momentum oscillator making lower lows, indicating that TRB will continue to rise.

TRB 价格表现。

TRB price performance. Source: X/JavonTM1

As of the latest update, Tellor is trading at $95.78, up 4.7% in the past 24 hours. However, over the past seven days, the cumulative price increase has exceeded 70%, reflecting a strong upward trend that is likely to continue, as market experts predict.

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