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API3 price prediction: Will the coin head north?

By Payel Bera

Edited by Vanessa Kintu

15:47, 14 February 2022

API3 price prediction: Will the coin head north? – Photo: Shutterstock

Since its launch in December 2020, API3 has been on a rollercoaster ride. With several peaks mapping its charts, this Ethereum token aims to connect traditional APIs with the blockchain ecosystem, allowing API providers to operate their own nodes without high cost and centralised oracle monitoring.

The coin is currently trading 54.86% below its all-time high, but will it manage to climb back or even surpass that value? Let’s look at the API3 price prediction for 2022 and beyond.

An introduction to the AP13 platform

API3 is a platform that offers decentralised application programming interfaces (APIs) targeted towards the development of the Web3 infrastructure. In its whitepaper, API3 pilots a collaborative effort to create a new generation of blockchain-native, decentralised APIs (dAPIs) that would address the API connectivity problem. 

These dAPIs will be operated by API providers composed of first-party oracles, therefore offering more secure and cost-efficient solutions. Currently, there is no way for smart contracts to establish a direct connection with APIs and this has led to an explosion in the popularity of oracles, a form of middleware that sits in-between APIs and smart contracts. These oracles not only increase costs and centralisation but also prevent API providers from operating their own nodes. However, with API3, data will be distributed across different providers and will also be accessible by smart contracts. 

According to Heikki Vänttinen, the founder of API3, decentralised APIs can provide ‘superior data transparency’ to the factual data source level. Airnode is a light and robust middleware that gives life to API3. It can be deployed in a short time and offers enhanced transparency while substantially reducing transaction fees in the process.

What is API3 coin? 

The API3 token, or coin, is the core of the governance, security and value capture mechanics, and also the governance token for the decentralised autonomous organisation (DAO). Staking the token grants holders full governing rights over the API3 DAO and the opportunity to receive associated rewards.

According to CoinMarketCap (as of 14 February 2022), API3 cryptocurrency currently stands at $4.57, with a market cap of $17.168m (£12.694m) and 36,907,810 API3 in circulation. The API3 stock is traded on Binance, OKX, Mandala Exchange, DigiFinex, and Huobi Global.

API3 news

Recent AP13 coin news highlights include the Airnode deployment from an earlier version to v0.4.0. in the updated version, the node is stress-tested and will be able to fulfil nearly 250 requests per minute on a public Ethereum testnet, among many others.

The Enterprise BD team hosted successful workshops and hackathons in the last three months. In addition, a partnership with the Open Bank Project (OBP) hosted a state-level hackathon in El Salvador with Banco Hipotecario. Along with Airnode, API3, the seamless Web3 wrapper aims to offer their data directly on-chain. The partnership with Amberdata.io, a digital asset data provider, helped API3 launch Amberdata Beacons on 19 January. API3’s Beacons aims to provide transparent, scalable and cost-effective solutions for data providers to publish data feeds directly on-chain.

Further, the token makers are involved in various workshops and learning sessions to engage users. The DeFi Head Start workshop, scheduled for 16 February, will demonstrate how to use Amberdata Beacons as part of the BUIDLATHON. These workshops and use-case presentations aid large enterprises that are still navigating the Web3.0 and DeFi space to enter with confidence.

Any API3 forecast highly depends on the token’s ability to connect APIs for the latest data via smart contract solutions. The API3 Alliance showcases several such projects to empower the API providers. Earlier in January this year, API3 also announced it will be bringing the API3 Alliance to the NEAR and Aurora blockchains, giving developers access to over 180 API providers.

Price analysis

The token has witnessed several fluctuations since its inception. Before getting into the API3 coin price prediction, let us study its current price trajectory. API3 hit an all-time high of $10.31 on 7 April 2021 and is currently trading 54.86% below it. However, it is around 275% higher than its all-time low of $1.24 on 2 December 2020. In the last seven days, the token price has risen by 28.59% and has an ROI of 1450.61%. According to CoinMarketCap, the token has a Market Rank of #305 at present. 

BTC/USD

66,703.40 Price
-0.440% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

SOL/USD

169.90 Price
-0.120% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,497.99 Price
-0.260% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.13 Price
+2.880% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

The past trends of API3 show bullish performance over the previous month and the advancements and upgrades on the API3 ecosystem will support growth in the long term.

API3 price chart

API3 price forecast: what are experts saying?

The current sentiment based on short-term technical indicators by CoinCodex is neutral, with 14 technical analysis indicators signalling bullish signals and 12 signalling bearish signals. The API3 coin value is expected to rise by 16.40% and could reach $5.13 by 19 February. CoinCodex provides the API3 price prediction based on growth trajectory following the growth of the internet, or large tech companies. Based on the internet’s year-over-year growth, the API3 target price is set at $5.70.

Getting into technical indicators, the relative strength index (RSI) and moving average convergence divergence (MACD) remain neutral while the average directional index (ADX) is signalling a sell. The daily simple moving average (SMA) point towards ‘buy’, except for the 100- and 200-week SMA. On the other hand, the daily exponential moving averages (EMA) has a majority ‘buy’ signal except for the 3-week and 200-week period.

The API3 crypto price prediction (2025) requires deep technical analysis and knowledge about the current market scenario. Let us have a look at some algorithm-based long-term API3 price analysis.

Wallet Investor’s algorithm and forecast system stated that API3 is a bad long-term (one-year) investment and high risk. Although there is no API3 prediction for 2030, prices can average $4.327 in 2027. The year-on-year trend in price for 2022, 2023, 2024 and 2025 is $3.889, $3.958, $3.996 and $4.158, respectively. According to Wallet Investor’s analysis, the price of API3 may drop to $3.848 in one year, a decrease of 13.769%. The platform also predicts that the coin will not be able to surpass bitcoin anytime soon and that API3 may crash.

While Wallet Investor’s API3 coin price prediction appeared gloomy, Price Prediction’s API3 prediction was upbeat. For the years 2022, 2023, 2024 and 2025, API3 prices are expected to average $6.18, $9.07, $13.31 and $20.10, respectively. Five years from now (2027), API3 token prices are expected to average $42.44 and climb to $122.80 by 2030.

DigitalCoinPrice API3 price prediction was also upbeat. API3 coin prices are expected to grow to $6.03 by the end of 2022, climb to $7.15 by 2023, and then for 2024 and 2025 prices are expected to reach $7.13 and $9.65, respectively. Analysts expect the token value to hit $12.46 by 2027 and touch $21.03 in 2030.

Investors should always keep in mind that these API3 crypto price predictions are based on algorithms that trace past performance to predict the future. The crypto market is volatile and predictions may go wrong with gyrations in the market and changes in the blockchain landscape and policies. You should always consider the coin makers’ initiatives that include collaborations, partnership deals and fundamentals, before making investment decisions and not blindly rely on algorithm-based predictions.

You should do research before investing. Your decision to buy cryptocurrencies should depend on your attitude to risk and how comfortable you are in losing money. You should never invest money that you cannot afford to lose.

FAQs

Is API3 a good investment?

While some analyst forecasts are positive for API3’s uptrend, WalletInvestor claims it is a bad long-term investment with high risk. However, investors should research before investing and consider the coin’s fundamentals before making a decision.

How high can API3 coin go?

According to Price Prediction, API3 is expected to rise to $122.80 by 2030. However, these forecasts are based on algorithms that project future prices based on past performances and may go wrong.

Can API3 crypto reach $10?

The coin did cross the $10 mark in April 2021, but will it rebound again? Analyst forecasts from Price Prediction and DigitalCoinPrice show that the coin can edge up to $10; however these algorithm-based forecasts do not guarantee results and investors should not base investment decisions on them.

Where is API3 listed?

API3 is currently listed on Binance, OKX, Mandala Exchange, DigiFinex and Huobi Global. It can be purchased on Uniswap, where it is paired with wrapped ETH.

Markets in this article

API3/USD
API3/USD
2.1976 USD
0.0574 +2.730%

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