Amidst a 50% decline, Tellor claims the lead in social trend data.
Tellor, a cryptocurrency that brings verifiable data to blockchain smart contracts, has experienced a surge in social media attention and trading volume in the past month.
According to data analytics company Santiment, Tellor (TRB) now represents 0.15% of all cryptocurrency-related discussions on social media. Analysis of sentiment shows that 43% of the conversations exhibit positive sentiment, while 33.5% show negative sentiment, and the rest remain neutral.
Santiment’s report reveals that the discussions surrounding Tellor mainly revolve around its price fluctuations, transaction fees, and potential for growth. There has also been talk about the coin reaching take-profit targets on futures platforms.
This increased attention aligns with significant gains in Tellor’s market value. Over the past month, the price of TRB has experienced substantial growth. CoinMarketCap data shows that the coin’s value has risen by % this month, starting from under $54 on December 7th and reaching a local peak of $590 on January 31st. However, it should be noted that the coin has recently lost more than half of its value in the last 24 hours.
In a recent video market analysis, Cilinix Crypto warned that some of the price action may be manipulated across various altcoin exchanges with low liquidity. However, they also expressed the belief that further upside potential exists, with resistance expected around the $250 to $260 range. They added that breaking above this threshold could lead to a continued rally towards $300.
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