Tellor Tributes (TRB)

Dmytro

1/1/2024

Tellor Tributes (TRB) - is the utility token of the Tellor blockchain protocol, providing decentralized oracles for smart contracts.

Over the last 24 hours, the TRB token price surged to $600, then dropped to $137, resulting in asset liquidation worth $68 million, making it one of the most traded tokens within the past day. The Tellor team deposited 4211 TRB ($2.4 million) after the TRB price soared.

About Tellor:

It is a decentralized network of oracles that provides real-world data for smart contracts.
Data is reported by a community of 'reporters' who are rewarded with TRB tokens.
The network's security is ensured by the Proof-of-Retrievаl (PoR) consensus algorithm.

Tellor Tributes Functions:

Staking: Users can stake TRB on reporters they trust more.
Rewards: Reporters earn TRB for providing high-quality data.
Governance: TRB owners can participate in voting on proposals for protocol development.

Current Status of TRB:

Price on January 1, 2024: Approximately $207 USD
Market Capitalization: Over $528 million
Circulating Supply: Around 2.5 million tokens.

Conclusion

Cryptocurrency Market Decline: Yesterday, the entire cryptocurrency market experienced a significant price decline. This decline was influenced by several factors, including concerns about inflation, geopolitical tensions, and regulatory risks.

Coinbase Announcement: Coinbase, one of the largest cryptocurrency exchanges globally, announced the listing of TRB. This announcement initially caused a short-term price surge for the token but subsequently led to its decline as investors began selling their positions amidst the overall cryptocurrency price drop.

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