The Tellor (TRB) has been in a major downtrend followed by a dynamic downward trendline and coinciding EMAs. In the past three weeks, bulls tried hard to surge but failed due to multiple hurdles that led to a nearly 15% increase.
As of writing, the price has faced resistance in the recent attempt to breach the hurdle. However, the price has been deflected downward by 5% in intraday.
The bears have the overall dominance, but contingent on bulls, it can breach the above. It has tested dynamic trendlines multiple times, which makes an uncertain view of its price.
Tellor (TRB) Statistics
Per the CoinMarketCap platform, the volume inflow of the past 24 hours has surged massively by 354.74% to $126.38 Million.
Its market cap was $198.11 Million at press time, making it the 230th largest crypto globally. TRB also had a decent liquidity ratio of 63.75%, signifying plenty of liquidity present in the asset.
Its tokenomics showed that out of a total supply of 2.656 Million TRB, the circulating supply was 2.602 Million TRB. Thus, from current prices, the FDV stood at $202.571 Million.
What On-Chain Metrics of Tellor (TRB) Signify?
The On-chain metric provides rapid insights into the Tellor ecosystem and its protocol’s state. As per the data from an on-chain research website, the price correlation with the market leader (BTC) has been negative 0.08.
It showed that the BTC price did not affect even the TRB price. It has its own price structure activity based on supply and demand.
Further on-chain data signified that transactions over $100K increased, totaling $16.07 Million, in the past 7 days. The concentration of large holders was 94%, whereas investors’ concentration was 11.2% (297.7K TRB).
Moreover, the whales’ concentration was 82.57% (2.19 million TRB), and the Retail crowd held 6.23% (165.5K TRB).
On-chain Data | Source: IXFI
On-chain Data | Source: IXFI
The crypto’s transactions have increased exponentially from the July 28th low of 4.96K TRB to July 31st 183.96K TRB. It signified a large volume of Tellor token transfers occurred among users.
Transactions and Rich List Data
The total number of transactions has also significantly surged from 526 on July 27th to 687 by July 31st.
Based on the rich list from CoinCarp, its holders’ balance has also surged. TRB’s top 100 holders held 96.19% of the floating supply.
The ace in the list was Binance. It held nearly 47% of the supply in two addresses, with 790K TRBs in possession.
Holders Stats Of TRB | Source: Coincarp
The Tellor’s holders chart showed strong adoption by the users. Additionally, its users have grown from 6.9K in August 2023 to the peak at 9.1K, precisely 9147 holder addresses.
Analysts Outlook in Tellor (TRB) Price
The traders, investors, and analysts are optimistic about the Tellor (TRB) token price. Many have shared posts with different theories that concluded optimism in its price appreciation ahead.
