Is API3 a good investment? Api3 Price Prediction 2022-2030

Is API3 a good investment?

The API3 pricing has undergone both amazing climbs and huge dips since its debut in December 2020. This Ethereum token, which has many peaks in its chart, connects traditional APIs with blockchain networks. It’s a money-saver for API providers that want to run their nodes without breaking the bank or relying on centralised Oracle monitoring. API3 was trading at $6.83 at the time of writing (20 February 2022), 33.15% down than its all-time high of $10.31. (which was on 7 April 2021). Will the token ever be worth more than that? Examine the API3 pricing forecast for 2022 and beyond.

What is Api3 (API3)?

API3 is the API3 network’s native token. This DAO-based system combines oracle characteristics (which provide real-world data access on the blockchain network) with APIs for data reception. In late 2021, the API3 whitepaper was published, followed by the formal launch of the token’s public sale.

Oracles and APIs are two critical components for DeFi apps to work effectively. They make it simple for dApps to obtain live data feeds from outside blockchains. Although many firms are providing APIs and picking an API provider for your project shouldn’t be an issue, relying on their services implies inserting the intermediaries into the flow of operations.

It goes against the decentralisation idea. Furthermore, most third-party oracles are ubiquitous and treat all data same, regardless of source.

API3 seeks to address this issue by establishing a network of decentralised APIs. These APIs are managed by the same nodes that make up the Oracle network. When employed in such systems, the API3 token serves many purposes:

Providing protection for the Oracle
Providing assistance with controlling operations
Working as a fee in the network

Technology

API3’s network is built around the Airnode oracle (often used for first-party oracles). The Airnode is a lightweight cloud service that makes blockchain APIs available. This means that the entity that owns the API utilises it rather than depending on other parties to operate it.

API3 DAO regulates API provider-managed aggregations of dAPIs or oracles. API providers who operate their own oracles use private keys to sign their replies. As a result, this is the greatest confirmation that the data has not been tampered with. Proprietary oracles are often private oracles that do not have access to raw data processing by a third party, allowing them to be utilised for a broader range of applications.

Using a data stream made of first-party data is less expensive than using middleman services. Working with the intermediaries implies that you should compensate them for their services and incentivize them not to assault the data flow. A data feed comprised of first-party oracles requires fewer oracles since over-redundant decentralisation is not necessary to guard against third-party assaults.

Api3 (API3) history

Although the API3 token was formally launched in December 2020, its beginnings may be traced back to 2019. CLG (which is widely regarded as the spiritual forefather of the API3 token) was developed in order to build the Honeycomb API marketplace for Oracles, allowing API providers, dApp developers, and Oracle node owners to do business together. The basic notion behind the Honeycomb marketplace was that the difficulties of getting a large number of independent players to interact in a decentralised fashion to produce better business results was the root cause of Oracle’s troubles.

Honeycomb was a big hit. However, it used the third-party oracle paradigm, which depended on middleman services to send data from an API provider on-chain. The intermediaries risk was high in the third-party business.

API3 was nurtured in the API marketplace. It reaffirmed that API providers should be regarded as a critical component of an Oracle. This was the basic concept that led to API3 being the API-centric solution that it is today.

Airnode, the API3’s Oracle node, was introduced as a result of many years of learning and experimenting with the demands of Oracle API providers. As a consequence, Airnode embraced Honeycomb’s well-standardised API-oracle integration capabilities and became the first totally serverless Oracle node.

Api3 (API3) Price Analysis

To begin the API3 price forecast debate, let’s look at its present statistics. The API3 token is a fee-earning, payment, and governance token that is designed to support smooth operations and align incentives among API3 protocol stakeholders.

The API3 token was ranked 289th among cryptocurrencies by market capitalization with $69,829,541 at the time of writing on 29 June 2022.

API3 pricing data (as of 20/02/22)

API3 current price$1.89
Market cap$69,829,541
Circulating supply36,907,810.00 API3
Total supply104,238,461 API3
Daily trading volume$45,436,694
All-time high$10.31 (07/04/21)
All-time low$1.04 (13/06/22)

API3 Price History

Since its inception, the API3 token has gone through a number of ups and downs. Before we get into the API3 price forecast, let’s have a look at its current price and its history, which isn’t as long as Bitcoin’s.

API3 reached an all-time high of $10.31 on April 7, 2021. The token was 33.15% lower at the time of writing this post. However, the API3 is 455.84% higher than the token’s all-time low of $1.24, which it achieved on December 2, 2020. API3’s pricing was also volatile in the final two weeks of June 2022. At $1.04, the price set a new all-time low.

The token’s ecosystem developments and enhancements create the groundwork for a bullish API3 price projection.

API3 Technical Analysis

API3 mostly drifted downwards after hitting an all-time high in April 2021, with several tiny price peaks in between, achieving a new all-time low of $1.04 in June 2022. API3 appeared to be ready to climb higher after the low was set. In the H4 period, a definite ascending channel emerged in late June 2022, and a strongly positive market structure evolved. If the price continues to rise, a breakthrough outside the channel is possible, albeit there is a daily barrier around $2.03 just below the channel resistance.

Api3 Price Prediction 2021

API3 was ranked 446th on CoinGecko in December 2021. API3 price projection 2021 with a daily timeline is shown below.

api3 price 2021 chart
API3 Price Prediction 2021

The API3 token is seen in the chart above as a falling triangle pattern. The descending triangle appears frequently during downtrends and is frequently viewed as a negative indicator. The fact that the API3 price continued to make lower lows in the start of December 2021 suggested that buyers were less aggressive than sellers.

API3 was selling at $5 on average in late 2021. Despite the popular API3 price forecast for 2021, which predicted that the API3 price will fall to $1.80, the token’s price hit the $5.80 resistance level.

In the immediate run, API3 price prognosis is optimistic. It is one among the greatest cryptos for long-term investment.

Api3 (API3) price prediction for 2022, 2025 and 2030

Traders and investors should keep in mind that the following API3 price forecasts are based on algorithms that estimate the future based on historical token performance. The cryptocurrency market is unpredictable, and even the most precise projections might be erroneous due to blockchain developments. Deep technical analysis and understanding of the current market condition are required for API3 price forecast. Let’s take a look at some of the top cryptocurrency information aggregators’ long-term algorithm-based API3 price projections.

CoinCodex Api3 Price Prediction for 2022

CoinCodex presents a 30-day API3 token price estimate based on positive/negative trends in the previous 30 days.

The overall API3 price forecast attitude is gloomy, based on data from June 2022, with technical analysis signs indicating bearish indications and a scared market. According to their current short-term API3 Token price forecast, the token’s price might fall by -14.99% and reach $1.50 by 5 July 2022.

DigitalCoinPrice Api3 Price Prediction for 2022, 2024, 2025, 2027 and 2030

DigitalCoinPrice’s API3 price forecasts are bullish. By the end of 2022, the token price is predicted to reach $2.52. By 2023, the API3 price might reach $2.93. API3 prices are predicted to reach $2.88 and $3.81 in 2024 and 2025, respectively. Analysts at DigitalCoinPrice predict that the token’s value will reach $5.02 by 2027. API3’s 2030 price projection is $8.31 per token.

WalletInvestor Api3 Price Prediction for 2022, 2023, 2024, 2025 and 2027 

Wallet Investor’s API3 price forecasts show that API3 is a horrible long-term investment with a high risk. According to Wallet Investor, the API3 token’s price may fall to $1.228 in 2023. In 2027, the API3 token is anticipated to have lost more than 90% of its present value.

Price Prediction’s Api3 Price Prediction for 2022, 2023, 2025 and 2030

API3 pricing forecasts from Price Prediction are optimistic. The price trend for 2022, 2023, 2024, and 2025 is predicted to be $6.18, $9.07, $13.31, and $20.10, respectively. API3 prices are anticipated to average $42.44 in 2027 and rise to $122.80 by 2030.

Api3 (API3) Future Value Predictions in General

In April 2021, API3 achieved an all-time high. Will it, however, ever recover? API3 price estimates vary according to analysts from prominent stock prediction websites. According to Price Prediction and DigitalCoinPrice, the currency might reach an average of $10. However, such projections do not guarantee the results, and investors should not rely their whole investment decisions on them.

How High Can Api3 Go?

The API3 project looks interesting. Because of the low market cap of this Ethereum token, we believe the API3 price will eventually reach $100. The API3 price might climb to $122.80 by 2030, according to Price Prediction’s projection. Such algorithm-based forecasts, however, may be incorrect. Only time will tell how much the API3 pricing will climb.

API3 Price Prediction Today

On shorter time spans, the API3 token prognosis is optimistic. This might signal a price reversal, and API3 could be a strong investment in 2022. However, before making a purchase choice, it is critical to analyse the API3 price history as well as factors such as on-chain activity and the token’s development. API3 price forecasts might be useful as an indicator indicating which way the price may move. These should be viewed as options, not absolutes. This is especially true for long-term projections. The cryptocurrency market is extremely unpredictable, and you never know what factors may influence future pricing.