Chainlink (LINK) Opponents Rebound After Obtained Assist From High Crypto Alternate Binance – The Every day Hodl

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

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

The native token governs API3’s 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 that competes with Chainlink (LINK). Oracles work by connecting real-world information to blockchains to run smart contracts.

News of the Binance announcement sent API3 higher in two spurts, the first taking it from $4.20 to $4.86 and then to a high 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 list.

First up is the decentralized financial yield optimizer Beefy Finance (BIFI). Crypto.com says users can buy BIFI with USD, EUR, GBP and nearly two dozen other fiat currencies.

Beefy Finance rallied earlier in the week, surging 23.6% from $1,445.75 to $1,787.89 in just two days before embarking on a cascade of price declines. BIFI is currently down 17.02% on the day, exchanging hands at $1,487.42.

Keep3rV1 (KP3R), the native token of the Keep3r network, also gets the go-ahead from CRO.

Blockchain custodians are external sources that provide development or task execution for projects. KP3R seeks to match people who need caregivers 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 in its second phase this week, trading at $1,211.70, down 18.45% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Oliver Denker/Vladimir Sasonov


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