Will the coin head north?

Since its launch in December 2020, API3 has been on a rollercoaster ride. With multiple spikes mapping its charts, this Ethereum token aims to connect traditional APIs to the blockchain ecosystem, allowing API providers to operate their own nodes without high cost and without centralized oversight from Oracle.

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

Presentation of the AP13 platform

API3 is a platform that offers decentralized application programming interfaces (APIs) for developing the Web3 infrastructure. In its whitepaper, API3 is leading a collaborative effort to create a new generation of blockchain-native decentralized APIs (dAPIs) that would solve the API connectivity problem.

These dAPIs will be operated by API providers comprised of proprietary oracles, providing more secure and cost-effective solutions. Currently, smart contracts have no way to directly connect to APIs, which has led to an explosion in the popularity of oracles, a form of middleware that sits between APIs and smart contracts. These oracles not only increase cost and centralization, but also prevent API providers from operating their own nodes. However, with API3, the data will be distributed among different providers and will also be accessible by smart contracts.

According to Heikki Vänttinen, the founder of API3, decentralized APIs can provide “superior data transparency” at the source of factual data. Airnode is a lightweight and robust middleware that brings API3 to life. It can be deployed in a short time and offers increased transparency while significantly reducing transaction costs in the process.

What is API3 Coin?

The API3 token, or coin, is the heart of the governance, security, and value capture mechanisms, as well as the Decentralized Autonomous Organization (DAO) governance token. Staking the token grants holders full governance rights over the API3 DAO and the ability to receive associated rewards.

According to CoinMarketCap (as of February 14, 2022), the API3 cryptocurrency currently stands at $4.57, with a market cap of $17.168m (£12.694m) and 36,907,810 API3s in circulation. API3 stock is traded on Binance, OKX, Mandala Exchange, DigiFinex and Huobi Global.

API3 news

Recent AP13 coin news highlights include Airnode’s rollout of a version prior to v0.4.0. in the updated version, the node is stress tested and will be able to respond to nearly 250 requests per minute on a public Ethereum testnet, among others.

The Enterprise BD team has successfully hosted workshops and hackathons over the past three months. Additionally, a partnership with the Open Bank Project (OBP) hosted a state-level hackathon in El Salvador with Banco Hipotecario. With Airnode, API3, transparent Web3 wrapper aims to offer their data directly on-chain. Partnering with Amberdata.io, a digital asset data provider, helped API3 launch Amberdata Beacons on January 19. API3 tags aim to provide transparent, scalable and cost-effective solutions for data providers to publish data feeds directly to the channel.

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

Any API3 prediction is highly dependent on the token’s ability to connect APIs for the latest data through smart contract solutions. The API3 Alliance presents several such projects to empower API providers. Earlier in January this year, API3 also announced that it would bring the API3 Alliance to the NEAR and Aurora blockchains, giving developers access to over 180 API providers.

Price analysis

The token has seen several fluctuations since its inception. Before we get into the API3 coin price prediction, let’s study its current price trajectory. API3 reached an all-time high of $10.31 on April 7, 2021 and is currently trading 54.86% below. However, it is around 275% higher than its all-time low of $1.24 on December 2, 2020. Over the past seven days, the price of the token has risen by 28.59% and has an ROI of 1450.61%. According to CoinMarketCap, the token currently has a market rank of #305.

Past API3 trends show bullish performance compared to the previous month and API3 ecosystem advancements and upgrades will support long-term growth.

API3 Price Prediction: What Are the Experts Saying?

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

As for the technical indicators, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) remain neutral while the Average Directional Index (ADX) signals a sell-off. The daily simple moving average (SMA) points to “buy”, except for the 100 and 200 week SMAs. On the other hand, the daily exponential moving averages (EMA) have a majority buy signal, except for the 3-week and 200-week period.

The API3 price prediction (2025) requires in-depth technical analysis and knowledge of the current market scenario. Let’s take a look at an algorithm-based long-term API3 price analysis.

Wallet Investor’s algorithm and forecasting system indicate that API3 is a bad long-term (one year) and high-risk investment. Although there is no forecast for 2030, prices may average $4,327 in 2027. The yearly price trend for 2022, 2023, 2024, and 2025 is $3,889, $3,958, $3,996, and $4,158 , respectively. According to Wallet Investor analysis, the price of API3 could fall to $3.848 in one year, a drop of 13.769%. The platform also predicts that the coin will not be able to overtake bitcoin anytime soon and API3 may crash.

While the API3 price prediction from the Wallet Investor analysis looks bleak, the Price Prediction forecast is optimistic. 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’s forecast is also optimistic. API3 coin prices are expected to reach $6.03 by the end of 2022, climb to $7.15 by 2023, then for 2024 and 2025 prices are expected to reach $7.13 and $9.65, respectively. Analysts expect the token value to reach $12.46 by 2027 and touch $21.03 in 2030.

Investors should always keep in mind that these price predictions are based on algorithms that track past performance to predict the future. The crypto market is volatile and predictions can be wrong with market fluctuations and changes in the blockchain landscape and policies. You should always consider coin maker initiatives that include collaborations, partnership agreements, 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 towards risk and how comfortable you are with losing money. You should never invest money that you cannot afford to lose.

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