Shiba Inu, the China-based meme coin, spiked more than 34% Friday after trading on Coinbase. Earlier this week, Coinbase announced it supports meme coin Shiba Inu for its customers. Because of this, the trade volume of the token increased, leading to a surge in its price. SHIB is presently the 47th largest crypto globally. It has a $3.4 billion market capitalization. Bitcoin is first, while Dogecoin comes in ninth. According to Coinmarketcap, the coin’s market cap spiked from over $2.2 billion to about…
Nowadays, it pays to understand how APIs (Application Programming Interfaces) can improve your trading strategy. These handy protocols have seen a drastic increase in development over the last three years. An API is a software intermediary that allows two applications to communicate freely and automatically. Today, there are a wide variety of API types in use in the market. Each of these protocols acts like a robotic messenger that delivers your request to a service provider and then delivers the response back.
The integration of APIs into your trading strategy can shake things up. These powerful tools expand on the functionality of platforms by allowing you to utilize third-party applications seamlessly. Some of the most common crypto API formats are price surveillance and market data APIs. These protocols are also critical in the integration of trading bots into exchanges.
The API market is at an all-time high in terms of selection and functionality. However, not all APIs are worth your time, and some can even put your trading strategy in jeopardy. Here are the top 5 crypto market data APIs to take your trading experience up a level.
Shrimpy’s API is one of the most advanced available to users today. This API is dynamic and extremely flexible. For example, you can connect the Shrimpy API to over 15 exchanges directly and monitor all the price action and market movements from your Shrimpy interface. You can also use your Shrimpy API to integrate an impressive selection of trading bots into your strategy.
Shrimpy provides users with an easy to navigate interface that is great for both experienced and new users. Once your Shrimpy API is up and running, you gain access to a wealth of tools to analyze the market and discover the best trading opportunities.
Shrimpy is unique to other bots because the platform also provides some next-generation features such as copy trades. Users can choose their favorite trader and duplicate their styles automatically using this platform. In this way, new users can learn and earn as they become more experienced in the market. Best of all, team leaders earn a passive income for every new follower they acquire.
Next up on the list of most valuable APIs is Coin API. Unlike Shrimpy, Coin API is just that, an API designed to complement other platforms. CoinAPI provides fast, reliable, and unified data APIs to cryptocurrency markets. This advanced protocol features lightning-fast data transfers to keep you up-to-date on all market developments. Coin API has earned a reputation as a reliable and reputable option for traders and developers alike.
Coin API provides users with real-time data that can be tweaked to suit their trading needs. Impressively, this API also includes a database of historical market data. Specifically, the network consists of internationally-located servers that house over 20TBs of raw market data to help you make the right trading decision.
CoinMarketCap is the best-known option on this list. This website is a legend in the market as one of the best sources to track exchanges and liquidity markets. CoinMarketCap was one of the first options to enter the market when it entered service back in 2013. Since that time, the firm has maintained a commitment to providing quality and real-time market data.
As one of the top data aggregators in the space, CoinMarketCap serves a valuable role in many traders’ daily activities. The firm offers a reliable and professional API for traders and developers. Notably, this API comes in two variations. There is a limited free plan that will work for basic functionalities. Keenly, the price of this API increases based on the number of monthly call credits you require.
CoinAPI offers some unique benefits. For example, all CoinAPI data is standardized. Standardization helps to spur further innovation in the sector. Additionally, all market symbol details and asset codes are double-checked by real humans. This final step helps to ensure maximum quality.
Bitquery is another top contender in the market. The Bitquery blockchain is a reputable alternative that supports API data transmission to over 20 blockchains currently. Bitquery rose to fame due to its consistent commitment to users. The network’s API allows you to track blockchain money flow from an intuitive interface that requires very little technical understanding.
As part of the firm’s advanced monitoring solutions, developers can access data across blockchains using a single GraphQL endpoint. Developers can write specific GraphQL queries to get detailed data based on their platform’s needs. In this way, Bitquery is one of the best options for developers seeking to expand their Dapps monitoring and trading capabilities.
Bitquery is a favorite among developers for another reason. The network is fast and can query huge data sets to return results immediately. Additionally, the network allows developers to store massive data troves for relatively low prices.
NOWNodes is another developer-friendly API that continues to make waves across the market. Unlike some competitors, NOWNodes API pricing structure is designed to increase based on the number of monthly call credits you require. Impressively, the NOWNodes API can retrieve data from 40+ blockchains simultaneously. Currently, NOWNodes offers a free plan for up to 20,000 requests per day for any supported network.
NOWNodes is known for its flexibility. The API allows developers to easily add new blockchain networks, coins, and tokens to expand their platform’s reach. The developers behind this project took care to concentrate on product development to reduce infrastructure costs for Dapps.
Top 5 Crypto Data APIs for 2021
Learning how to leverage APIs is a great way to further your crypto trading strategy. These protocols are at the core of some of the most exciting developments in the market. Stick with these established APIs, and you are sure to enjoy a more streamlined and responsive trading experience.