API3 has recently announced a significant milestone, surpassing the $1 billion mark in Total Value Secured (TVS) in just 100 days, showcasing a tenfold increase in value.
TVS serves as a measurement of the total value of assets protected by a platform or protocol, particularly within the crypto and decentralized finance (defi) sectors. This metric highlights the security and adoption of blockchain networks and DeFi platforms.
API3’s oracle services currently safeguard the assets of 20 protocols, with PAC Finance from Blast’s defi project accounting for 52.1% of the total, as reported by X post.
Oracles play a crucial role in linking blockchains to external systems, enabling smart contracts to operate using real-world data. The API3 oracle stack is specifically designed for developers, offering user-friendly tools, unrestricted access, no need for code modifications, and no additional infrastructure requirements.
API3’s token experienced a notable 70% surge in February after being listed on Bitget, resulting in a market cap exceeding $347 million at the time of the announcement. This increase followed Bitget’s announcement of support for the token. As of now, the API3 token is trading at $2.94, marking a 13.45% increase over the past month, with its market cap currently at $252 million.
API3’s primary goal is to facilitate the creation and monetization of large-scale decentralized APIs (dAPIs). This objective is becoming increasingly significant as blockchain technology continues to make its mark in supply chain management and decentralized banking industries.
For more information, GALA has seen a surge in value following an incident recovery and a proposal to burn tokens.