Tellor (TRB) Market Cap Soars Over 70% – What’s Driving the Growth?
(note: the post contains data by BeInCrypto)
In May, Tellor (TRB), a decentralized oracle network, significantly outperformed expectations, doubling its market capitalization early in the month. As of April 30, TRB’s market value was $143.32 million. By the morning of May 7, in Asia market hours, this figure had surged to an impressive $247.81 million.
This substantial growth aligns with a noted increase in crypto whale activity. Furthermore, it suggests a wave of profit-taking may influence the market dynamics.
Data from the blockchain analytics platform Santiment revealed a spike in crypto whales’ transactions and active addresses involving TRB. Specifically, on May 6, there were 212 daily active addresses, and whale transactions exceeded $100,000, totaling 16.
This starkly contrasts with May 1, which saw only 131 active addresses and no significant crypto whale transactions. However, this activity indicates a growing investor interest and potential for profit-taking from TRB.
As of the latest updates, Tellor trades at $95.78, marking a 4.7% increase in the last 24 hours. Over the past seven days, however, the cumulative price increase has exceeded 70%, reflecting a strong upward trend that could potentially continue as predicted by market experts.
