Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%.
Oracles Token Projects See Seven Day Gains Jump
Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well.
Following the NFT-related pump, a great number of oracle protocol tokens are seeing significant gains over the last seven days. Basically, a decentralized oracle network is a group of independent responders that offer autonomous data to a blockchain.
Over the last seven days, the project API3 has spiked 46.6% in value.
Oracles are dominant on the Ethereum network and leveraged for decentralized finance (defi) applications in order to create intermediaries that