While the fluctuations in the crypto market continued, API3 Coin became one of the most remarkable assets of recent days. This Token, which increased by 36 %on March 17, caught a strong momentum despite the stagnant course of the wide market. So, what factors lies behind this ascension of API3?
What is API3 Coin and why is it important?
API3 is an Oracle platform that allows decentralized applications (Dapps) to access reliable and verifiable external data. While traditional Oracle solutions are usually based on central structures, API3 offers a more secure and transparent solution by establishing directly connection with data providers.
This structure allows developers to access directly reliable data streams without the need for third -party intermediaries. It also helps to make smart contracts more resistant to manipulation in Ethereum and other compatible networks.
Strong factors behind API3 Coin rise
This sudden rise in the price of API3 is supported by a few important developments. First of all, the potential to compete with great Oracle solutions such as Chainlink attracted the attention of investors.
In addition, it is a great advantage that API3 has a maximum removable value (MEV) protection. Oracle offers a sustainable revenue model to its users by prioritizing their updates and optimizing transaction rankings. Finally, large defi projects such as Moonwell decided to move Oracle solutions from Chainlink to API3. This move increases the reliability of API3 in the sector and emphasizes the advantage of cost efficiency.
Is the future of API3 bright?
According to market analysts, the more adoption of API3 in the Oracle ecosystem may increase the value of the token in the long run. The fact that it provides lower cost and higher reliability for developers makes it a preferred Oracle solution. However, the general movements of the market and Bitcoin’s price fluctuations may affect the performance of API3. However, the current rise trend shows that the project can attract more investors in the future.
If you are interested in Oracle solutions, it may be useful to follow API3 closely. Increasing interest in the project may reveal the potential of more rise in token price. New partnerships, which are expected to be announced in the coming weeks, can contribute to the more adoption of the project and support price mobility.
