On August 30, Tellor (TRB) suddenly plunged from the $36 price zone to just $20.68 in just a few hours, or more than 30%. At the time of writing, TRB is trading at $23. Let's find out with Holdstation whether this dump was caused by investor panic or the release of the development team.
Tellor overview
What is Tellor?
Tellor is a decentralized oracle protocol that incentivizes an open, permissionless network of data reporting and data validation, ensuring that data can be provided by anyone and checked by everyone.
How does Tellor work?
Tellor wants to solve the problem of lack of a secure and decentralized data supply for DeFi applications on Ethereum by becoming a data-bank. Tellor is a data bank where miners compete to add data points to the Tellor platform in exchange for a reward of “Tributes” or TRB.
The platform will use a multi-layer verification system and a reward incentive mechanism to ensure that all Oracles provide reliable and verifiable off-chain information. Summary: Users will send data to Oracle (eg price of ETH/BTC or ETH/BTC,...) and pay fees in TRB —> Miners make requests of that data, stake 1000 TRB and have a chance to receive rewards.
Tokenomic
- Ticker: TRB
- Contract: 0x88dF592F8eb5D7Bd38bFeF7dEb0fBc02cf3778a0
- Blockchain: Ethereum
- Token Standard: ERC-20
- Token type: Mineable
- Consensus: PoW
- Max Supply : Infinite
- Total Supply: 2,388,408 TRB
- Circulating Supply: 1,703,441.76 TRB
TRB token is a token that is unlocked gradually over time and gradually put into circulation in the market.
Usecase:
Payment: TRBs are used as payments for user data transfers.
Reward: TRB is used as a reward for miners.
Disputes Fee & Stake to allow Mining.
Tellor (TRB): Dump 50% Overnight
Tellor (TRB) is being surrounded by FUD when this project is said to be attracting investors, with information that the CEO of Tellor has been arrested. Information was released online about the arrest of the CEO of Tellor yesterday, a part claiming that TRB is trying to lure investors, a project based entirely on the hype process of Market Makers and fishes. elephants and the development team are selling. Although there is no official news, the blockchain community spread among themselves and simultaneously released this token.
Tellor CEO Brenda Loya got arrested? Anyone can confirm? $TRB $btc $eth #crypto
— David (@reddevilchoo) August 30, 2022
These FUD and fake news caused the price of TRB Token to plummet, soon after there was a correction from Tellor CEO - Brenda, she said it was all FUD and there were no arrests. Accordingly, she said that at the time of the above incident, the Tellor development team was discussing and working together to prepare for the upcoming platform upgrade and everything was still going well.
Hi everyone, I've been head down reviewing our 360 upgrade which we will be launching on testnet at the end of the week and I guess I missed all the twitter action. 👀 All is well!
— Brenda | Tellor (@JustBrendax) August 30, 2022
The blockchain market is constantly seeing FUD news that strongly affects the price of tokens, like Avax recently got FUD. Therefore, investors need to pay close attention to news in the market and wait for corrections before making a decision to buy and sell.
