TRB (Tellor) Token Analysis 28/03/2022Fundamental Analysis:
Tellor is a decentralized oracle network.
Oracles are a key part of blockchain infrastructure that update valuable off-chain data, making it available for on-chain smart contracts.
Tellor’s oracle supplies data that can be requested, validated and put on-chain transparently with data reporters competing for incentives of TRB. Data reporters bring valuable information on-chain for a wide range of DeFi applications.
To learn more about oracles check out the article Oracles 101:
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Tellor’s oracle is a decentralized network of staked data reporters. Becoming a reporter requires no verification process i.e. permission less. Anyone anywhere in the world can be a reporter using open source software, a unique characteristic among blockchain oracles.
With some knowledge of blockchain and smart contracts, interested data reporters holding more than 100 TRB can start earning rewards for providing accurate data.
When oracle users request the value of an off-chain data point (e.g. BTC/USD), data reporters compete to add this value to an on-chain data-bank, accessible by all Ethereum smart contracts. The frequency with which data can be updated is limited only by how much / how often users “tip” the feed with TRB.
Also unique to Tellor, data is submitted in bytes meaning the oracle is flexible and robust for nearly any blockchain application.
The purpose of Tellor’s native token, Tributes (TRB), is to connect and align data reporters, oracle users, and community governance.
Security is achieved through Tellor’s governance contract, which uses a simple dispute mechanism to achieve community consensus on the data being reported. The way this works is that data reporters must stake TRB in order to report data and earn rewards, but they can be disputed and slashed, with their stake given to the disputer if they submit data the network deems incorrect.
Tellor was launched in 2019 by a U.S.-based team with the aim to address the oracle problem on the Ethereum blockchain.
Tellor was founded by Brenda Loya, Nick Fett and Michael Zemrose.
Brenda Loya is the CEO and co-founder of Tellor. Previously, Brenda worked as the VP and Lead Developer at Daxia in the field of blockchain, scalability and data science. Previously she was an economist and supervisory statistician at the U.S. Department of Labor.
Nick Fett is a co-founder and CTO of Tellor. Previous to Tellor, he was the founder of Daxia, a derivatives protocol on Ethereum. Nick also has experience in economics, regulation, derivatives, and machine learning including positions at the U.S. Commodities Futures Trading Commission.
Michael Zemrose is co-founder and CSO of Tellor and previously did Business development at Daxia. He was also an entrepreneur in media and consulting for several years before joining the world of crypto.
Tellor (TRB) has the Total supply of 2,385,988 tokens as of 28/03/2022.
The current CoinMarketCap ranking is #535, with a live market cap of $55,483,608 USD. It has a circulating supply of 2,313,777 TRB coins and the max. supply is not available.
Technical Analysis:
The Price Value Has Fallen to its 90% low, From its All Time High and has already Accumulated its Intrinsic Value and the Smart Money Flow is on its way. Currently the Price is at the 85% low of the ATH and it can be considered a good Opportunity for Investment.
There exist the Bullish Divergence of Price Value and MACD which is the very sign of Bearish Trend reversal and Start of the New Cycle and Bullish Impulsive waves.
We have defined 3 Targets by the Confluences of the Fibonacci Expansion and Fibonacci Trend Base Extension Levels, and these levels can be considered as the very important Pivot point on the Price Rally.
The 3 TP will get its Confirmation as the Price Triggers the 2 TP followed by some Price Correction and Retracement which is the distribution Phase.
