Live API3 Price and Market Data
The current API3 price stands at $0.60. Over the past 24 hours, the trading volume has reached $8.04 million. Real-time updates confirm that the API3 price has decreased by 0.10% in the last hour and 1.28% since yesterday. With a circulating supply of 123.66 million coins, API3 holds a market capitalization of $89.83 million. The maximum supply is capped at 149.21 million tokens.
What Is API3?
API3 represents a groundbreaking initiative focused on delivering traditional API services to smart contract platforms. Its core mission is to enable decentralized, trust-minimized data interactions. Governed by a decentralized autonomous organization (DAO), known as the API3 DAO, the project emphasizes transparency and community-led development. All code is open source, allowing for public scrutiny and collaboration.
This approach addresses a critical challenge in blockchain: connecting smart contracts with real-world data securely and efficiently. By removing intermediaries, API3 aims to create a more robust and reliable infrastructure for Web3 applications.
Understanding API3 Market Capitalization
Market capitalization reflects the total market value of a cryptocurrency's circulating supply. For API3, this figure is $74.44 million. It is calculated by multiplying the current price by the number of coins in circulation. A higher market cap generally indicates that the asset is more established and valued by investors.
However, market cap alone doesn't tell the whole story. It must be considered alongside other metrics like trading volume, liquidity, and project fundamentals to assess overall health and potential.
Analyzing Recent Trading Activity
Trading activity provides insight into market sentiment and liquidity. In the last 24 hours, 13.35 million API3 tokens were traded, equivalent to $8.04 million in value. This level of activity, alongside the price change of -1.28%, suggests active market participation. Monitoring these trends helps traders and investors gauge momentum and make informed decisions.
Current Price and Supply Details
As of the latest data, one API3 token is priced at $0.60. The circulating supply is 123.66 million tokens, representing the total number currently available for trading and use. The maximum supply is set at 149.21 million, indicating a controlled and predictable emission schedule.
API3's Position in the Crypto Landscape
API3 currently ranks #540 among all cryptocurrencies based on market capitalization. This ranking offers a relative measure of its popularity and size within the broader digital asset ecosystem. While not among the top tier, its niche focus on decentralized data solutions gives it a unique value proposition.
For those looking to dive deeper into real-time data and advanced market tools, consider exploring specialized crypto analytics platforms that offer comprehensive charts and metrics.
Frequently Asked Questions
What is the primary goal of the API3 project?
API3 aims to bridge the gap between smart contracts and real-world data through decentralized APIs. This allows blockchain applications to access external information securely without relying on centralized intermediaries, enhancing transparency and reliability.
How does API3 ensure data reliability?
The project uses a decentralized network of first-party oracles, meaning data providers run their own nodes. This reduces middlemen and aligns incentives, as providers are directly accountable for the data they supply, minimizing risks of manipulation.
Can API3 be used in decentralized finance (DeFi) applications?
Absolutely. API3's decentralized data feeds are crucial for DeFi protocols that require accurate, real-time information for functions like lending, borrowing, and trading. Its trust-minimized design helps protect against data manipulation attacks.
What factors influence the price of API3?
Key factors include overall crypto market trends, adoption rates of its technology, partnerships, updates from the development team, and changes in supply and demand dynamics. Like most assets, it is also subject to broader economic conditions.
How does API3 compare to other oracle projects?
Unlike some competitors that use third-party nodes, API3 employs first-party oracles, which can reduce layers of trust. This unique approach can lead to lower costs and higher security for data delivery, though it requires strong participation from data providers.
Where can I learn more about API3's technology?
The best resources are the official API3 documentation and GitHub repository, which detail the technical specifications and ongoing developments. For real-time tracking and analysis, you can access live market tools that provide up-to-date information and charts.