Return of the oracles: Band Protocol, API3 and DIA price soar to new highs
Oracle tokens gain traction as cross-chain interoperability and new developments in the DeFi sector lure investors away from Bitcoin and NFTs. Nonfungible tokens (NFTs) have been the talk of the town over the past few months, but as the start of the second quarter gets underway for the global financial markets, it possible that traders may start looking for opportunities in other parts of the crypto market. Oracle projects are one sub-sector that has been making moves over the past few weeks as some traders shift their focus away from NFTs.BAND/USDT vs. API3/USDT vs. DIA/USDT 1-day chart.....
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Partnerships, cross-chain integrations and a major exchange listing provided a 50% boost for API3 price. 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....
Price oracles are playing a leading role in driving blockchain adoption. Google Cloud is incorporating core technology from Band Protocol, a decentralized oracle service, to enable “immediate and accurate analysis of financial time series data,” according to Kevin Lu, head of business development at Band.Lu announced Thursday that Band’s Standard Dataset is now live on Google BigQuery, an enterprise data warehouse powering ultra-fast SQL queries. Lu described the partnership as “one of the direct collaborations with the Google Cloud team to enable traditional, hybrid blockchain and cloud....
On Monday, the oracle provider API3 announced a ten-year partnership with the Open Bank Project in order to connect more than 400 banking APIs to blockchain smart contracts using API3’s Airnode. The collaboration between API3 and the Open Bank Project aims to bridge conventional banking with blockchains and Web 3.0 applications. API3 DAO Partners With the Open Banking Project Connecting Over 400 Banking APIs to Blockchain During the last few months, there’s been greater interest in oracle providers like Chainlink, Band Protocol, API3, and DIA. Recently, Bitcoin.com’s....
Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%. Oracles Token Projects See Seven Day Gains Jump Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well. Following the NFT-related pump, a great number of oracle....
OEV-enabled oracles auction off the right to extract on-chain value to the same third-party searchers who used to bid for the blockspace. A new oracle system aims to retrieve the additional fees paid by decentralized application (DApp) users to miners called maximal extractable value (MEV). It is the maximum value a miner can extract from moving-around transactions when producing a block on a blockchain network.MEV can be defined as the maximum value that can be extracted from block production in excess of the standard block reward and gas fees. The MEV comprises arbitrage and liquidation....