The post Can Tellor (TRB) Price Breakout Anytime Soon? appeared on BitcoinEthereumNews.com.

The Tellor (TRB) has been in a major downtrend followed by a dynamic downward trendline and coinciding EMAs. In the past three weeks, bulls tried hard to surge but failed due to multiple hurdles that led to a nearly 15% increase. As of writing, the price has faced resistance in the recent attempt to breach the hurdle. However, the price has been deflected downward by 5% in intraday.  The bears have the overall dominance, but contingent on bulls, it can breach the above. It has tested dynamic trendlines multiple times, which makes an uncertain view of its price. Tellor (TRB) Statistics Per the CoinMarketCap platform, the volume inflow of the past 24 hours has surged massively by 354.74% to $126.38 Million.  Its market cap was $198.11 Million at press time, making it the 230th largest crypto globally. TRB also had a decent liquidity ratio of 63.75%, signifying plenty of liquidity present in the asset. Its tokenomics showed that out of a total supply of 2.656 Million TRB, the circulating supply was 2.602 Million TRB. Thus, from current prices, the FDV stood at $202.571 Million. What On-Chain Metrics of Tellor (TRB) Signify? The On-chain metric provides rapid insights into the Tellor ecosystem and its protocol’s state. As per the data from an on-chain research website, the price correlation with the market leader (BTC) has been negative 0.08.  It showed that the BTC price did not affect even the TRB price. It has its own price structure activity based on supply and demand. Further on-chain data signified that transactions over $100K increased, totaling $16.07 Million, in the past 7 days. The concentration of large holders was 94%, whereas investors’ concentration was 11.2% (297.7K TRB).  Moreover, the whales’ concentration was 82.57% (2.19 million TRB), and the Retail crowd held 6.23% (165.5K TRB). On-chain…

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Filed under: News - @ August 3, 2024 6:18 am