API3 price gains 55% after new partnerships and exchange listings attract investors
In the emerging Web3 world, data is the most valuable commodity, and oracle solutions provide a valuable role in facilitating the accurate and secure transmission of data between blockchains and data sources.
One project that is taking a different approach to developing oracles is API3 (API3), a project which harnesses application programming interfaces (APIs) to create first-party oracles through the use of decentralized APIs capable of broadcasting data directly to blockchain networks.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $3.22 on Feb. 3 the price of API3 climbed 72% to reach a daily high of $5.55 on Feb. 17 as the wider cryptocurrency corrected after news of Russia escalating it's incursion into Ukraine made waves in the news.
Three reasons for the resiliency in API3 price include a partnership with Amberdata to release beacon data feeds, the launch of Airnode on the Avalanche network and a new exchange listing at Binance.
The recent bullish momentum for API3 kicked off when the project revealed a new partnership with the digital data asset provider Amberdata to release beacon data feeds for the crypto community.
In partnership with @API3DAO, a 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
According to Amberdata, beacon data feeds “create a transparent, scalable and cost-effective solution for data providers to publish data feeds on-chain directly.”
As opposed to traditional data feeds that conceal where information is sourced, beacons utilize API3’s first-party oracles to feed data
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