The decentralized oracle network Tellor (TRB) significantly exceeded expectations by doubling its market value at the beginning of May. As of April 30, TRB’s market value was $143.32 million. By the morning of May 7, this figure impressively rose to $247.81 million.
Whale Activity in TRB
This significant growth parallels an increase in cryptocurrency whale activity. Data from the blockchain analytics platform Santiment revealed an increase in transactions and active addresses involving TRB. Specifically, there were 212 active addresses on May 6, and whale transactions exceeded $100,000, reaching a total of 16 addresses.
This situation contrasts sharply with May 1, where only 131 active addresses were seen, and there were no significant cryptocurrency whale transactions. However, this activity indicates increasing investor interest and potential profitability from TRB. Despite this, cryptocurrency analysts continue to be optimistic about TRB’s price trajectory. Analyst Javon Marks emphasized Tellor’s market strength and predicted the continuation of the upward trend. Senior analyst Javon Marks stated in his remarks:
After maintaining its upward formation, TRB (Tellor) is now starting to show great strength and may still be preparing for a massive 315% return and a move above $261.
Technical Data on TRB
Reiterating his positive outlook, he highlighted the sensitivity of TRB prices to recent models. This optimistic analysis is also supported by observed technical patterns. The formation of higher lows in price movements and lower lows in the momentum oscillator indicate a continuing upward trend for TRB.
As of the latest updates, Tellor is trading at $95.78, up 4.7% in the last 24 hours. However, the total price increase over the past seven days has exceeded 70%, reflecting a strong upward trend that market experts predict could continue.
