According to the latest data, several cryptocurrencies have shown impressive price increases over the past 24 hours. By this evening, on January 20, 2024, API3 (API3) turned out to be the leader among all digital coins and tokens in the top 500 by capitalization, whose exchange rate increased by more than 102%.

API3 could be purchased at an average price of $3.12, and its market capitalization exceeded $268 million, and the daily trading volume increased 64 times, reaching $516.03 million. Most of the transactions were conducted on the Binance trading platform paired with USDT, which accounted for about 32% of the total trading volume.

Despite the impressive growth, market analysts were unable to identify the specific reasons for this growth and many considered it the result of price manipulation. It is important to note that before this significant increase, the price of the API3 cryptocurrency remained stable for a long time.

API3 is a platform for creating and using blockchain-based oracles, providing reliable and secure interaction between off-chain data and smart contracts. This product allows decentralized applications to access external information and APIs through reliable and trusted sources.

API3 also collaborates with a variety of partners and provides development tools to create its own oracles and establish partnerships, which makes it possible to run decentralized applications using external data.

Meanwhile, bitcoin has demonstrated low volatility, with a 1.8% rise in the exchange rate over the past 24 hours, trading at $41,590 and having a market capitalization of $815.43 billion.