API3 recently celebrated a significant milestone, surpassing the $1 billion mark in Total Value Secured (TVS) in just 100 days, representing a remarkable tenfold increase. TVS serves as a key metric for measuring the total value of assets protected by a platform or protocol, particularly in the crypto and decentralized finance (defi) sectors. This achievement highlights the growing security and adoption of blockchain networks and DeFi platforms.
According to a recent post by X, API3’s oracle services currently safeguard the assets of 20 protocols, with Blast’s defi project PAC Finance accounting for 52.1% of the total. Oracles play a crucial role in linking blockchains to external systems, enabling smart contracts to operate based on real-world data. The API3 oracle stack is specifically designed for developers, offering user-friendly tools, unrestricted access, seamless integration without the need for code changes, and no additional infrastructure requirements.
API3’s token experienced a 70% surge in February following its listing on Bitget, reaching a market cap exceeding $347 million. This growth occurred shortly after Bitget announced its support for the token. As of the latest report, the API3 token is trading at $2.94, marking a 13.45% increase over the past month, although its market cap has decreased to $252 million.
API3’s primary goal is to facilitate the development and monetization of large-scale decentralized APIs (dAPIs), a crucial objective as blockchain technology continues to revolutionize supply chain management and decentralized banking industries. This innovative approach has gained traction, reflecting the increasing importance of blockchain technology in various sectors.
For more information, GALA experienced a significant surge following an incident recovery and a token burning proposal.