Chainlink (LINK) Competitor Rallies After Earning Support From Top Crypto Exchange Binance

An altcoin powering a protocol to improve traditional application programming interface (API) technology for the Web 3.0 economy is buzzing after a sudden listing by top crypto exchange Binance.

In a new blog post, Binance says that the Ethereum token API3 (API3) will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.

The native token governs the API3 decentralized autonomous organization (DAO) and can also be added to the protocol’s insurance staking pool to earn rewards.

API3 is a decentralized oracle network competing with Chainlink (LINK). Oracles function by connecting real-world information with blockchains to execute smart contracts.

News of the Binance announcement sent API3 skyrocketing in two bursts, the first taking it from $4.20 to $4.86, and then to a peak of $5.54 after a slight pullback. The altcoin has since corrected to $4.79 but remains up over 10% on the day.

Singapore-based digital asset exchange Crypto.com (CRO) has also added two new altcoins to its growing roster.

First up is decentralized finance yield optimizer Beefy Finance (BIFI). Crypto.com says that users can purchase BIFI using USD, EUR, GBP and nearly two dozen other fiat currencies.

Beefy Finance went on a rally earlier in the week, rising 23.6% from $1,445.75 to $1,787.89 in just two days before witnessing a cascade of price drops. BIFI is currently down 17.02% on the day and is exchanging hands at $1,487.42.

Also getting the green light from CRO is Keep3rV1 (KP3R), the native token of the Keep3r Network.

Blockchain keepers are external sources that provide development or task execution for projects. KP3R seeks to bring together people in need of keepers with those who provide them.

Keep3rV1 started 2022 on an uptrend, working its way from under $1000 to as high as $1,881.20 on January 16th. The altcoin is currently on its second leg lower this week and is trading for $1,211.70, down 18.45% on the day.

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Featured Image: Shutterstock/Oliver Denker/Vladimir Sazonov

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