API3 (API3)
First-party oracle provider with OEV (Oracle Extractable Value) recapture mechanism, but adoption remains limited vs Chainlink's entrenched network effects
Ranked 147th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
API3 scores 99 of 250 across the 25-variable framework, which places it 147th of 251 rated tokens and inside the lower half of the set. The framework verdict is PASS.
The score rests on P/S Multiple 5/10, 38th of 251, Circulating / FDV Ratio 7/10, 46th of 251, Regulatory Safety 6/10, 52nd of 251 and Holder Concentration 4/10, 58th of 251.
Only 80.8% of API3's total supply is in circulation, so 1.24x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 19.2% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
API3 trades 98.2% below its all-time high of $10.30. Recovering that level is a 55.6x move, not a 98.2% one, which is the arithmetic most drawdown charts hide.
The framework score gained 14 points against the previous pass (85 to 99). Revisions of this size follow a change in the underlying variables, not a change in price.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 3 | 98th of 251 | |
| Revenue Trend | 3 | 117th of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 4 | 82nd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 7 | 46th of 251 | |
| Buyback and Burn | 3 | 63rd of 251 |
Ownership
| Smart Money Flows | 3 | 149th of 251 | |
| Insider Selling | 4 | 151st of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 3 | 111th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 3 | 156th of 251 |
Position
| Market Share | 3 | 131st of 251 | |
| Competitive Moat | 3 | 175th of 251 | |
| Institutional Adoption | 3 | 115th of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 3 | 157th of 251 |
Risk
| Regulatory Safety | 6 | 52nd of 251 | |
| Catalyst Calendar | 4 | 90th of 251 | |
| BTC Alpha Potential | 3 | 114th of 251 | |
| Team Execution | 4 | 147th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
OEV Network capturing MEV from oracle updates and redistributing to dApps
Principal risk
Chainlink's dominance in integrations makes API3 a distant second-choice for most protocols
Market and supply
| Price | $0.1899 |
| Market cap | $27.4Mrank 672 |
| All-time high | $10.307 Apr 2021 |
| Circulating supply | 144,395,083 |
| Eventual supply (total supply) | 178,616,993 |
| Dilution to full supply | 1.24x |
| Listed on | Binance, Bybit, KuCoin |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to API3 measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Sources
- [API3 Blog] API3's OEV Network aims to recapture oracle extractable value, a novel but unproven mechanism
- [CoinGecko] API3 down 96.8% from ATH; Chainlink's CCIP and Data Streams continue to dominate oracle integrations
- [API3 DAO] API3 staking pool currently yields ~20-30% APY but funded by inflation not protocol revenue
Common questions
- What is the Early Thunder score for API3 (API3)?
- API3 scores 99 out of 250 on the 25-variable framework, ranking 147th of 251 rated tokens (lower half). The framework verdict is PASS.
- What are API3's strongest fundamentals?
- API3 ranks highest on P/S Multiple 5/10, 38th of 251, Circulating / FDV Ratio 7/10, 46th of 251, Regulatory Safety 6/10, 52nd of 251 and Holder Concentration 4/10, 58th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- How much API3 supply is still to enter circulation?
- 80.8% of eventual API3 supply is circulating today, leaving 1.24x the current float still to arrive. At a flat price per token that is 19.2% of fully diluted value ahead of current holders.
- How far is API3 from its all-time high?
- API3 trades 98.2% below its all-time high of $10.30. Returning to that high requires a 55.6x move from the level used in this scoring pass.
- Which tokens have a similar profile to API3?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to API3 are BAL (95), BAND (73), CVX (103) and ANKR (96). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for API3?
- OEV Network capturing MEV from oracle updates and redistributing to dApps
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.