Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,09 trillion. Bitcoin is up by over 2% to reach around $27,200. Ethereum increased by nearly 6% to close to $1,700. XRP gained almost 2% in value during a highly volatile week. Almost all altcoins are trading in the green, with virtually no exceptions. The DeFi sector maintains the total value of protocols (TVL)…
It pays to understand how APIs (Application Programming Interfaces) can improve your trading strategy. These handy protocols have drastically increased development over the last three years. An API software intermediary allows two applications to communicate freely and automatically. Today, a wide variety of API types are used in the market. Each protocol acts like a robotic messenger that delivers your request to a service provider and then delivers the response.
The integration of APIs into your trading strategy can shake things up. These powerful tools expand the functionality of platforms by allowing you to utilize third-party applications seamlessly. 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 selection and functionality. However, not all APIs are worth your time; some can jeopardize your trading strategy. Here are the top 5 crypto market data APIs to improve your trading experience.
Next up on the list of most valuable APIs is Coin API. Coin API is 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. As a result, 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 in 2013. Since then, the firm has been committed 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. First, a limited free plan will work for basic functionalities. Then, 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. Bitquery rose to fame due to its consistent commitment to users. In addition, the network’s API allows you to track blockchain money flow from an intuitive interface that requires very little technical understanding.
Developers can access data across blockchains using a single GraphQL endpoint as part of the firm’s advanced monitoring solutions. In addition, 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 fast network 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, the NOWNodes API pricing structure is designed to increase based on your required monthly call credits. Impressively, the NOWNodes API can retrieve data from 40+ blockchains simultaneously. In addition, 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. In addition, the developers behind this project concentrated on product development to reduce infrastructure costs for Dapps.
Top 5 Crypto Data APIs for 2023
Leveraging 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. So stick with these established APIs and enjoy a more streamlined and responsive trading experience.