Tellor Sees Surge in Social Media Buzz and Trading Volume
Tellor, a cryptocurrency that brings verifiable data to blockchain smart contracts, has experienced a significant increase in social media discussions and trading volume in recent weeks.
Social Media Sentiment and Discussion Topics
According to data analytics firm Santiment, Tellor (TRB) now represents 0.15% of all cryptocurrency-related social media conversations. Analysis of sentiment reveals that 43% of the chatter is positive, 33.5% is negative, and the remainder is neutral.
Discussion Points
Santiment’s report highlights that discussions surrounding Tellor revolve around its price fluctuations, transaction fees, and growth potential. There has also been talk about the coin reaching take-profit targets on futures platforms.
Rise in Market Value
The increased attention coincides with a substantial increase in Tellor’s market value. Over the past month, the price of TRB has risen significantly. CoinMarketCap data shows that the coin grew from under $54 on December 7 to a local peak of $590 on January 31 before experiencing a 50% drop in value within the last 24 hours.
Potential for Further Upside
Cilinix Crypto suggests that while there may be manipulated price action across altcoin exchanges with low liquidity, there is still potential for further upside. They anticipate resistance around the $250 to $260 range, but breaking above this threshold could lead to a continued rally towards $300.
Hot Take: Tellor Gains Momentum Amidst Increased Attention
Tellor has recently gained momentum as it captures social media buzz and sees significant trading volume. Discussions center around various aspects of the cryptocurrency, including its price fluctuations, transaction fees, and growth potential. This surge in attention has also been reflected in Tellor’s market value, with substantial gains witnessed over the past month. While there may be some manipulated price action, there is still a possibility for further upside. Overall, Tellor’s growing presence in the cryptocurrency market indicates its increasing popularity and potential for future success.
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