Wednesday, May 22, 2024

Top 5 Oracle Projects in Crypto to Invest in 2021

Decentralized oracles are the hot trend and currently buzzing in the crypto world. The primary reasons behind the developing improvements in the oracle world is definitely the DeFi boom. Decentralized applications built on smart contracts need real-world information feeds which smart contracts can’t access independently given blockchain restrictions.

Oracles aim to resolve the issue here by bridging the on-chain world with off-chain information sources that further lift the usefulness of DeFi applications. The blockchain oracles have come into vogue and also soared up the market capitalization for Oracle based cryptocurrency tokens. 

Below are the leading and most promising Digital Assets Based on Oracle

Chainlink (LINK) 

Chainlink is basically an oracle or an intermediary software which transfers the data from off-blockchain platforms to on-blockchain smart contracts. This reduces the probability of any error that might occur using a single centralized platform.

Chainlink ecosystem consists of more than 50 blockchain projects and 100+ software-based firms. In 2020, Chainlink became one of the top oracle providers in the blockchain industry where-in partnering with Chainlink possessed like a very profitable deal.

LINK Price had a very leisurely start in 2020, priced at $2.264 which reached its highs by the mid of the year to $19.1. The price continued to rally in 2021 with a price reduced to $11 but appeared to be poised to form new ATH very soon.

The year 2021 is considered as one of the most profitable years for the Chainlink holders as the asset is expected to make new highs frequently. LINK price successfully rallied high and formed a new ATH at $23 initially and later broke to form yet another one at $24.35 within a couple of days.

The price is expected to rally further in 2021 by attaining $30 by the mid of 2021. Moreover, the price is expected to register yearly highs in November 2021 by touching levels above $44. In the coming years, the link price may rally further to hit $100 also.

BAND Protocol

Band protocol is a cross-chain oracle that enables the smart contracts to aggregate and connect any external data source or API in a scalable manner. Basically, it is a software designed to incentivize the users who provide real-world data to the decentralized applications running on blockchains.

Band protocol, initially running on the Ethereum blockchain, would build its own blockchain using COSMOS technology in the due course. 

A Validator ( candidate with the most BAND tokens)  plays a vital role in BAND protocol as they are responsible for checking the transactions and adding them to the blockchain. If they do not perform their job, they may even confiscate some band tokens they hold. 

BAND price recorded a remarkable surge in 2020 by jumping from the levels less than a dollar to as high as $16. However, the price slides down a little and stood around $9 in the mid of January 2021.

The price is expected to rally further to hit $15 to $17 by the mid of 2021, which may double by the end of 2021. The BAND price may eventually hit close to $30 by December 2021 and continue rallying in coming years. By 2025, the BAND price is expected to hit more than $250 to more than $300 also.

DIA (Decentralized Information Asset)

DIA is basically an open-source, financial information platform that utilizes the crypto incentives to source and validate the data. It is a swiss-based non-profit association working as an oracle platform for the DeFi ecosystem.

It is basically a platform that provides access to crowd-verified financial data, enabling a fair and symmetrical financial ecosystem. It aims to provide transparent, secured and verified market data.

DIA had a kick-off inception with price more than $2 which was short-lived and crashed below $2 and still trending below $2 at the press time. By March 2021, the price is expected to surpass the $2 mark and attain more than $3 by the mid of 2021

However, by the end of 2021, in December, the price is expected to decline a little to levels below $3. In the coming years, the price is yet again expected to skyrocket to more than $15 by the end of 2025.

Must Read: Top 8 Cryptocurrencies To Consider for Investing in 2021

Tellor (TRB)

Tellor is a decentralized oracle where the proof-of-work(PoW) miners compete with each other to fetch the data and place it on-chain for the smart contracts. The Tellor simply creates a system where-in the entities can post the value of off-chain information and the miners will compete to add the information to an on-chain platform.

The Tellor uses its native currency TRB to provide incentives and rewards to the miners. Initially, to start mining, the miner is required to deposit TRB token as dispute resolution and governance which will be helpful for voting for the validity of the information or data.

The TRB price at the time of writing is around $27.26 with a jump of nearly 10 percent. However, by the mid of 2021, the price is expected to hit levels close to $40. And by the end of 2021, the price may swing in between $45 to $55.

Considering the price for the next coming years, the price may hit more than $65 by the mid of 2022 and reach above $100 by the end. The TRB price is expected to even surpass $230 by 2025. 


API3 is a DAO-governed project for the creation of API’s for DAPPs called dAPI. It will set up, manage, insure and monetize at scale. It is basically a project aimed to build a transparent methodology to collaborate blockchains to the API’s of data providers. 

dAPI’s are blockchain-native, decentralized API services built by combining multiple operators and operating oracle nodes without any middlemen.

If you are looking for currencies with good return, API3 can be a profitable investment option. According to active traders and analysts, a long-term increase is expected, the price prognosis for next 5 years is $32.261. With a 5-year investment, the revenue is expected to be around +432.09%.

Final Thoughts 

At present, major oracle based cryptocurrencies in the market like ChainLink, and Band are the more mainstream ones. It seems that the demand for Oracles in the financial industry as well as in the gambling markets will continue to increase. 

However, there is nothing  like the best digital asset to invest as the market is volatile and not stable yet. While you choose cryptocurrency to invest, you need to research and analyse the project roadmap carefully. Also, it is important to select the right investment period and a genuine platform.

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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