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

Altcoin, which leverages protocols to improve traditional API technology for the Web 3.0 economy, has been talked about after a surprising listing by the largest crypto exchange Binance.

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

Native tokens can also manage API3 Decentralized Autonomous Organizations (DAOs) and add to the protocol’s suite of security services to earn rewards.

API3 is a decentralized oracle network that competes with Chainlink (LINK). Oracle works by connecting real-world information to the blockchain and implementing smart contracts.

News of Binance’s announcement sent API3 up in two waves. Initially, it rose from $4.20 to $4.86, then retreated a bit before reaching a peak of $5.54. Since then, the altcoin has been adjusted to $4.79, but on that day it is up more than 10%.

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

The first is Beefy Finance (BIFI), which is a decentralized financial return optimizer. According to Crypto.com, users can buy BIFI using USD, EUR, GBP, and about 20 other fiat currencies.

Beefy Finance stock surged earlier this week, up 23.6% from $1,445.75 to $1,787.89 in just two days before experiencing a series of price drops. BIFI is currently down 17.02% and is trading at $1,487.42.

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

Blockchain custodian is an external resource that provides project development or task execution. KP3R aims to connect those who need a guard with those who provide them.

Keep3rV1 started an upward trend in 2022 and rose from under $1,000 to $1,881.20 on January 16. The altcoin is currently down in the second phase of this week, down 18.45% on the day to trade at $1,211.70.

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Featured Images: Shutterstock/Oliver Dunker/Vladimir Sazonov

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