altFINS

Tellor

<p>The native token of decentralized oracle network Tellor (TRB) has seen an astronomical rally over the past two months, surging over 680% year-to-date. Crypto analysts say they are not shocked by the price action, citing intentional spot bids and on-chain data flows. TRB is up over 220% in the past 30 days alone and is trading at $117 at press time.</p>
<p>According to on-chain analyst <a href="https://twitter.com/52kskew/status/1717342836704850081?t=g1BfGscgQHUPGkpPICRGrg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Skew</a>, the rally was “completely orchestrated” through intentional spot bids that served to spark initial momentum. Large longs then exited into short covering liquidations, allowing longs to close out positions before letting spot bids run again.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="864" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-1024x864.png" alt="" class="wp-image-363750" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-1024x864.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-300x253.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-767x647.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-1536x1295.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-2048x1727.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-178x150.png 178w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-100x84.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-415x350.png 415w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658-788x664.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-658.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>“Retail is used as both liquidity for momentum &amp; exit liquidity,” the analyst tweeted, referring to retail traders.</p>
<p>Crypto analyst Bilal Nasir Khan <a href="https://twitter.com/BilalNasirKhanI/status/1717318687231770785" target="_blank" rel="noopener noreferrer nofollow">echoed</a> this assessment, noting that top TRB holders are predominantly wallets rather than exchanges. With over 25% of tokens held in these wallets, significant on-chain activity likely fueled the sharp price uptick.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="759" src="https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-1024x759.png" alt="" class="wp-image-363760" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-1024x759.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-300x222.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-767x569.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-1536x1139.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-2048x1519.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-202x150.png 202w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-100x74.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-472x350.png 472w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5-788x584.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/chart-5.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>Tellor aims to provide reliable real-world data to blockchain applications through a network of staked information providers. The oracle cryptographically verifies data points via Proof of Stake, allowing DeFi platforms, NFTs, and metaverse projects to access trusted off-chain information.</p>
<p>As more developers integrate Tellor oracles, demand for the TRB token may continue increasing. But analysts caution the vertical rally could be just as short-lived. Traders will be monitoring on-chain signals to see if the momentum is sustainable.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-did-tellors-trb-pump-over-680-in-2-months-crypto-analyst-not-surprised/">Why Did Tellor’s TRB Pump Over 680% in 2 Months? Crypto Analyst ‘Not Surprised’</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Did Tellor’s TRB Pump Over 680% in 2 Months? Crypto Analyst ‘Not Surprised’

Table of Contents

CaptainAltcoin

Other articles published on Oct 26, 2023

Solana Labs launches Web3 incubator offering dev and fundraising support

BlockFi Begins Creditor Repayments and Asset Withdrawals

Ramp teams up with Linea to bridge zkEVM and the global financial system

Citadel Securities accused by Terraform of acting in ‘bad faith’ over UST depeg incident

Court Grants Coinbase’s Request for Oral Arguments in SEC Lawsuit

Google Cloud and MultiversX collaborate as a blockchain company focuses on the metaverse

Join our free newsletter for daily crypto updates!