Extracting Ethereum Price from Binance API in Python

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In this article, we will walk through a step-by-step guide on how to store and update the latest Ethereum (ETH) price using the Binance API in Python.

Prerequisites

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• You have installed the requests library (pip install requests) and the Binance API client library for Python (pip install binance-client)

• You have a Binance API account with sufficient balance and permissions to access the ETH market

• You have set up your API credentials in your Python script

Code

——

import os

import json

from binance.client import Client











Set your Binance API credentials

API_KEY = 'your_api_key'

API_SECRET = 'your_api_secret'



Create a new Binance client instance with your API credentials

client = Client(api_key=API_KEY, api_secret=API_SECRET)


def get_latest_eth_price():

    """

    Retrieve the latest ETH price from Binance's API.

    

    Returns:

        tuple: The latest ETH price and its corresponding exchange symbol (e.g., 'ETHUSDT')

    """

    
Get the list of available exchanges

    exchanges = client.get_exchanges()

    

    
Filter the list to only include the Ethereum (ETH) exchange

    eth_exchange = [exchange for exchange in exchanges if exchange['symbol'] == 'ETH']

    

    
If no ETH exchange is found, raise an error

    if not eth_exchange:

        raise ValueError('No ETH exchange found')

    

    
Get the latest price from the ETH exchange

    latest_price = eth_exchange[0]['latestPrice']

    

    return latest_price


def store_latest_eth_price(price):

    """

    Store the latest ETH price in a file.

    

    Args:

        price (float): The latest ETH price to be stored.

    """

    with open('latest_eth_prices.json', 'w') as f:

        json.dump({'latestPrice': price, 'symbol': 'ETHUSDT'}, f)


def main():

    
Get the latest ETH price

    latest_price = get_latest_eth_price()

    

    
Store the price in a file

    store_latest_eth_price(latest_price['latestPrice'])

    

    print(f'Latest ETH price stored: {latest_price["latestPrice"]} USD')


if __name__ == '__main__':

    main()

Explanation

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• In the get_latest_eth_price function, we create a new Binance client instance with our API credentials.

• We then filter the list of available exchanges to only include the Ethereum (ETH) exchange using the client.get_exchanges() method.

• If no ETH exchange is found, we raise an error.

• We get the latest price from the ETH exchange and store it in a dictionary for later use.

• In the store_latest_eth_price function, we open a file named latest_eth_prices.json in write mode ('w') and dump our latest ETH price and symbol (ETHUSDT) into the file using JSON formatting.

• Finally, in the main function, we call the get_latest_eth_price function to retrieve the latest ETH price and store it in a file.

Example Use Case

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To use this script, save it as a Python file (e.g.,eth_price_tracker.py) and run it using your Binance API credentials. The script will print the latest ETH price stored in the file. You can modify the script to suit your needs by adding additional features or error handling.

Note: Make sure to replaceyour_api_keyandyour_api_secret` with your actual Binance API credentials.

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