Ankr Price Up 35%, second biggest winner on Crypto.com – the VR Soldier

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Ankr’s price rose 35% today, making it the second biggest winner on Crypto.com, after Gitcoin. With a market cap of $ 1.5 billion and a massive trading volume of $ 2.65 billion, ANKR is the 10th most traded cryptocurrency today. Why is the price going up and why all the hype? Let’s find out.

What is Ankr?

Ankr is a multi-chain distributed infrastructure for the crypto economy. It combines a node platform, staking, and DeFi to make it easy to develop apps and earn rewards.

For investors, Ankr offers a higher rate of return than traditional staking, leveraging over 11 channels for optimal income. Some of the most popular coins to bet on Ankr include MATIC, ETH, BNB, AVAX, and DOT.

For developers, Ankr has extensive documentation and an easy-to-use public RPC API layer spanning over 8 chains. With Ankr, developers can start building multi-chain dApps and harness the power of Ankr.

Why is the price of Ankr increasing?

On November 8, Ankr announced its Polkadot Parachain Launchpad, allowing users to participate in DOT crowdloans with Ankr’s StakeFi platform.

Surprisingly, Ankr’s price did not show much activity after the announcement, continuing to trade sideways at the $ 0.13 level. However, today we saw the price of ANKR peak at $ 0.19, almost breaking its previous high of $ 0.29 which it hit in March.

Whether today’s price hike is due to an influx of users or a late market response to the November 8 announcement, as we haven’t found any recent news explaining today’s pump. , be careful.

A thread on Ankr’s official subreddit surfaced yesterday claiming not to FOMO in ANKR and wait for a retracement before buying. The thread said:

“ANKR rose against all the market downturn. Low market cap strongly indicates whale handling / pumping and emptying. Be careful. If you are for the long haul. HODL. Otherwise… don’t jump on it right away. 20 ¢ is a retracement threshold. A massive sale is expected.

The $ 2 billion trading volume for a $ 1 billion market-cap cryptocurrency is suspect, especially since there is no relevant recent news on Ankr.

Either way, Ankr’s multi-chain infrastructure is one of a kind and its staking services are more efficient by design. There is no doubt that Ankr is a great long term take for 2022. However, I would be careful when buying based on emotion as it is the easiest way to dilute your crypto bag.

Disclosure: This is not trading or investment advice. Always do your research before buying a cryptocurrency.

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