API3 Fundamental Analysis
API3 is a native token of the API3 network — a DAO-governed solution combining an oracle functionality, which provides real-world data access on the blockchain, and APIs through which this data is received. API3 was presented to the public in late 2020 when its whitepaper was published, followed by API3 token public sale.
The growing number of dApps, especially those which can be classified as DeFi applications, require an easy way to get live data feeds from outside the chain, e.g. asset prices. Oracles and API are the two pieces of technology needed to make this work. Various organizations provide APIs, but using them means introducing the middleman into the flow of operations, which goes against the blockchain’s key principle of decentralization. Using a third-party oracle means, again, relying on a middleman; besides, contemporary oracles are often too universal, treating all data the same, no matter what its source — which is not always wise. API3 aims to solve this problem by building a network of decentralized APIs, provided to the dApp developers as a service. Those APIs are operated by the same nodes that comprise the oracle network, which keeps both components providing off-chain data as one solution. API3 token is at the heart of this system: it can be staked to secure the oracle, used for governance, and as fees within the network.
API3 Price Chart
API3 token went live in December 2020, trading mostly in the ~$1.80 — $2.40 range with some slight bumps until late January 2021. As the project built its partnership network, the price started climbing up, breaking $7 in February. API3’s price fell back down, reaching ~$3.5, at one point in the same month, but this dip turned out to be short-lived, and the price resumed its climb. By early April, API3’s price hit the record mark of $10.31, as oracles started attracting more attention with the growing interest in DeFi. Later API3’s price started trending down, affected by the crypto market downturn. It hasn’t been hit as hard as many others, though: after a return to the winter’s levels of ~$2 in early summer of 2021, by July it started recovering, trading at ~$3.5 — $4.
API3 Technical Analysis
Despite the fact that 100% accurate technical analysis for API3 cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated API3 buy-and-sell rating for selected timeframe. The summary for API3/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
API3 Price Prediction
Below we have collected the most reliable price projections for API3 (API3) from popular forecast platforms.
#1. WalletInvestor API3 Price Prediction for 2021, 2023, 2025
According to WalletInvestor, API3 price will grow from $3.475 to $7.145 in one year. That makes API3 an awesome investment. The long-term earning potential is 105.61%. Predicted price for the end of 2026 is $20.394.
#2. TradingBeasts API3 Price Prediction for 2022
Answering the question about if API3 is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $2.82914 with a growth to $4.35174 by the end of 2022.
#3. DigitalCoin API3 Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of API3 cryptocurrency will rise in the next 5 years starting from $3.46423 as of today’s price to $12.8169435. It will go up to $5.8210352 by 2022 and continue its growth in 2023–2024. Based on this forecast, API3 is a profitable long-term investment.
Summary
As it can be clear from the analysis cited above, API3 (API3) projections are rather contradictory. There is no universal consensus either about positive or negative future API3 price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the API3 projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
About SwapSpace
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 450 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.
Passionate about crypto and want to get more news and price predictions daily? Join SwapSpace’s blog!
Latest articles:
Band Protocol price prediction
Augur price prediction
Originally published at https://swapspace.co.
