Partnerships, cross-chain integrations and a large list of exchanges gave the API3 (API3) price a 50% increase. Analyst Jordan Finneseth evaluates the impact of these three factors on the 3.0 coin price. cryptocoin.com We provide details as…
Web 3.0 coin reached $5 again with huge news
Data from TradingView shows that the price of API3 (API3) rose 72% since dropping to $3.22 on Feb. 3 to $5.55 on Feb. 17.
The three reasons for the price increase are the Amberdata partnership, the launch of Airnode on the Avalanche network, and a new exchange listing on Binance.
Initializing amberdata and data feeds
The recent bullish momentum for API3 started when it revealed a new partnership with Amberdata to publish its data source. Oracle vendors have often handled data transfers in a third-party fashion, but API3’s approach to using decentralized APIs and on-chain data logging offers an alternative design that has caught the attention of developers and Blockchain protocols.
in partnership with @API3DAOa leading first-party #blockchain oracle solution providing a seamless Web3 wrapper that enables Web API providers to offer their data directly on-chain, we are pleased to announce the launch of Amberdata Beacons. https://t.co/TZbR5tCoFc
— Amberdata.io 📊📈 (@Amberdataio) January 19, 2022
Airnode integration and API3 Alliance partnerships
A second development that established the bullish state for API3 was the launch of Airnode on the Avalanche network. Additionally, over the past few months, more than 150 data providers have joined the API3 Alliance to continue a new partnership with NEAR protocol and Aurora, which will provide access to over 180 API providers.
Airnode is a Web3 middleware designed to directly connect any web API to Blockchain applications to make real-world data accessible via smart contracts; this is a process that eliminates intermediary service providers and helps transform data providers into their own Blockchain oracles.
Web 3.0 coin listing on Binance
A third factor that gave API3 an additional boost last month was a new listing on Binance, the largest cryptocurrency exchange by volume.
Evidence of the importance of this listing can be found by looking at 24-hour trading volume for API3, which rose 752% from the pre-listing average of $17 million to $145 million on January 21. API3 is currently available on four of the top six crypto exchanges by volume, including Binance, Coinbase, KuCoin, and Huobi Global.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.