The team behind Ankr is aiming to create a platform that facilitates the use and trade of cryptocurrency in everyday transactions. Why do people love ANKR?
– It’s the only Crypto that can be used to buy things in the real world;
– The value is pegged to gold, so it’s stable and relatable;
– The price is going up.
Price of Ankr Up 35%, Second Best Gainer on Crypto.com Ankr’s price gained 35% today, making it the second best performer on Crypto.com, after Gitcoin.
ANKR is the 10th most traded cryptocurrency today with a market cap of $1.55 billion and a trading volume of $2.65 billion. Why is it growing in price, and what’s the hype about? Let’s find out.
Ankr is a multi-chain distributed infrastructure that enables easy development of applications and rewards. It combines a node platform, staking, and DFI.
Some of the most popular coins to stake on Ankr include MATIC, ETH, BNB, AVAX, and DOT. Ankr provides a higher rate of return over traditional staking because it leverages 11+ chains for optimal earnings.
For developers, Ankr has comprehensive documentation and an easy-to-use public RPC API layer that spans over eight chains. With Ankr developers can build multi-chain dApps and utilize the power of Ankr.
What’s Driving Ankr Price Up?
Ankr announced its Polkadot Parachain Launchpad on November 8th, allowing users to participate in DOT crowdloans via Ankr’s StakeFi platform.
In spite of the announcement, Ankr’s price did not show much movement after the announcement, moving sideways at $0.13. Today, we saw ANKR’s price peak at $0.19, approaching its previous all-time high of $0.29 that it set back in March.
Due to a lack of recent news explaining today’s pump, tread with caution. It could be due to an influx of new users or to a delayed reaction to November 8th’s announcement.
On Ankr’s official Reddit subreddit yesterday, a thread claimed not to FOMO in ANKR and to wait for a retracement before buying in. It said:
“ANKR rose against the entire market fall. The low market cap strongly indicates whale manipulation / pump & dump. Be careful. If you’re in for the long run. HODL. If not… don’t jump on right now. 20¢ is a retrace threshold. A crashing selloff is expected.”
There is no relevant recent news about Ankr, and its trading volume amounts to $2 billion for a crypto with a market cap of $1 billion.
Even so, Ankr’s multi-chain infrastructure is unique, and its staking services are designed to be more efficient. There’s no question that Ankr is a great long-term hold for 2022. However, when buying based on emotion, you are more likely to dilute your crypto holdings.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
