Nonfungible tokens (NFTs) have been the talk of the town over the past few months, but as the start of the second quarter gets underway for the global financial markets, it possible that traders may start looking for opportunities in other parts of the crypto market.
Oracle projects are one sub-sector that has been making moves over the past few weeks as some traders shift their focus away from NFTs.
BAND/USDT vs. API3/USDT vs. DIA/USDT 1-day chart. Source: TradingView
As shown above, Band Protocol (BAND), API3 and DIA are three oracle projects that have entered sharp rallies over the past week.
Band Protocol is a cross-chain data oracle platform that operates on the Cosmos (ATOM) network. The protocol aggregates real-world data and APIs and supplies the data to on-chain applications and smart contracts in order to facilitate the exchange of information between on-chain and off-chain data sources.
Between Jan. 1 and Feb. 13 BAND price surged by nearly 300% then in March the