With the widespread growth of Web3, ANKR is also participating in prominent Web3 projects today. So, what is ANKR coin, should you invest in ANKR coin, and what are the potentials and pros and cons of this project? You can refer to the detailed review right here.
Contents
- 1 What is ANKR coin, should you invest in it?
What is ANKR coin, should you invest in it?
What is Ankr Network?
ANKR was established in November 2017, on the Ethereum blockchain platform.
Utilizing Web3 technologies, ANKR aims to better use the surplus computing resources of enterprises. This provides solutions for cloud computing through blockchain.
ANKR is striving to develop to become a rival to Google Cloud or Microsoft Azure. This platform will help users regain control over their applications and data instead of going through intermediary companies.
What is ANKR coin?
ANKR also allows users to participate in governance and have a voice in the future of the ecosystem.
Businesses providing cloud computing power will receive ANKR while consumers will get cheaper, safer, and more efficient cloud computing. This helps make idle digital resources a potential profit source instead of a cost for maintenance.
Basic information about ANKR coin:
- Trading code: ANKR
- Blockchain: Ethereum
- Contract: 0x8290333cef9e6d528dd5618fb97a76f268f3edd4
- Token type: Utility token.
- Token standard: ERC-20.
- Total supply: 10 billion ANKR
- Circulating supply: 10,000,000,000
- Current ANKR coin price: $ 0.037686
Who are the founders of ANKR coin?
Ankr was established with three main figures: Chandler Song, Ryan Fang, and Stanley Wu, where:
- Chandler Song: The current CEO of Ankr, formerly an engineer at Amazon Web Services, graduated in electrical engineering and computer science.
- Ryan Fang: co-founder of Ankr, formerly an investment banker, he graduated in Business Administration.
- Stanley Wu: the chief technology officer of Ankr, he was a senior software engineer at Amazon, Wu studied Database Management at the University of California, Berkeley.
There are also other members of the Ankr project like:
What are the outstanding features of ANKR coin?
Ankr is the only platform combining secure node infrastructure, staking, and decentralized finance (DeFi) to make development and monetization easier.
ANKR is striving to improve user experience, streamline processes, and reduce costs to make participation in Web3 technologies easier.
With Ankr, users can create nodes in just minutes. They gain access to dozens of different blockchains and in return, node operators pay Ankr a monthly subscription.
The cloud computing market was previously monopolized by a few large companies. By opening access, Ankr aims to level the playing field and reduce waste, making it a much more sustainable alternative.
Ankr’s StakeFi product allows investors to stake with less money compared to traditional staking on the Ethereum blockchain. Instead of needing to stake at least 32 ETH on the Ethereum beacon chain, Ankr requires only 0.5 ETH to start staking.
The ANKR network is decentralized, offering more flexibility and higher security compared to traditional cloud computing platforms.
Ankr is the only network and the first company to use trusted hardware to ensure that data stored on Ankr is highly secure at an enterprise level.
Ankr also offers one-click API services that help users organize DApps in addition to allowing them instant access to Web3 application deployment, reducing fees, providing access to on-chain data, and speeding up time to market.
Ankr is chosen to connect and bridge many ecosystems like Ethereum, Avalanche, Kusama, Binance chain, Polkadot, Fantom, Polygon, Celo, The Graph, Compound, and more.
How has the price of ANRK coin been performing?
Let’s look back at the price movement of ANKR coin in recent months:
When it started trading on 7/3/2019, the price of ANKR coin was at 0.01202 USD. By the end of March 2019, the price of ANKR increased slightly to 0.014271 USD, however, this was the highest increase before entering a long-term downtrend until 2020.
ANKR hit bottom in March 2020 at 0.000908 USD (after one year, the price of ANKR coin had fallen by over 90% compared to the beginning).
The price of ANKR coin began an upward trend from March 2020, and by the end of 2020, the price of ANKR had risen to 0.008323 USD, however, it was still not equal to the starting trading price.
The year 2021 witnessed a boom in the price of ANKR as it surged dramatically, reaching as high as 0.196234 USD (about 16 times higher than the starting trading price and 23.5 times higher than the beginning of 2021).
However, after rising to 0.19 USD, the price of ANKR coin fell sharply, dropping to 0.054 USD from 0.19 USD in just two months. This decline followed the general trend of the entire cryptocurrency market, not just ANKR. By the end of 2021, the price of ANKR coin settled at 0.101241 USD.
The current price of ANKR coin is $ 0.037686
Should you invest in ANKR coin?
To determine whether to invest in ANKR coin, let’s consider the advantages and disadvantages of this project:
What are the advantages of ANKR coin?
♥ Provides unique staking solutions attracting many users, enhancing yields while maintaining liquidity in DeFi.
♥ Highly regarded by various blockchain platforms such as Celo, The Graph, Compound, etc.
♥ Helps businesses save time and money using Ankr’s infrastructure to connect and integrate with Web3.
♥ Reliable, highly secure, transparent, censorship-resistant, and eliminates intermediaries, reducing costs related to data storage.
♥ The current low value of ANKR coin suggests potential for easy doubling or tripling in value, especially during market booms similar to 2021.
♥ Traded on many major and renowned cryptocurrency exchanges like Binance, Coinbase, Huobi, Kucoin, etc.
What are the disadvantages of ANKR coin?
♦ On 1/7/2022, the public RPC gateway provided by Ankr for Polygon (https://polygon-rpc.com) and Fantom (https://rpc.ftm.tools) was compromised by tricking a third-party domain name system (DNS) provider into giving hackers access to Polygon and Fantom domains. Ankr quickly implemented measures and regained safe access to Polygon and Fantom websites a few hours later, but this incident still exposed security vulnerabilities within Ankr.
♦ Faces significant competition in the cloud computing sector, including from other crypto projects performing similar functions like Filecoin, Storj, Siacoin, as well as traditional cloud computing tech companies like Google Cloud and Microsoft Azure.
♦ High volatility, meaning both high opportunities and risks, with prices influenced by Bitcoin.
♦ Although ANKR’s value increased, it did so during a period when nearly all coins were rising, not specifically due to the project’s own merits. Thus, more time is needed for Ankr to prove its project’s value.
♦ Not yet legalized, meaning if your investment is hacked or encounters risks, you will have to bear all losses without any protective entity.
Where to buy ANKR coin?
If you wish to own ANKR coin, you can purchase it on various exchanges like Binance, Coinbase Exchange, Huobi, Kucoin, Bybit, Mexc…
Wallets for storing ANKR token
Besides storing ANKR token on exchanges, you can store it in wallets like Trust Wallet, Metamask, Atomic Wallet, Binance Chain Wallet…
♦ ANKR is a decentralized cloud storage platform combined with DeFi, making Web 3.0 more accessible.
♦ ANKR provides developers and stakeholders access to over 50 different blockchains.
♦ ANKR aims to become a competitor to Google Cloud, Amazon, or Microsoft Azure.
♦ ANKR is currently serving over 25,000 nodes across dozens of popular blockchain networks.
♦ ANKR coin is volatile, influenced by Bitcoin prices.
♦ Currently, the price of ANKR coin is $ 0.037686, its market cap is $ 376.06 M, and its market rank is 230
For more useful information:
- What is FIL – Filecoin? Is Filecoin a good investment?
- 15 types of cryptocurrency scams that you NEED TO AVOID!!!!
Now, you should understand what ANKR coin is, whether it’s worth investing in, and the potential of this cryptocurrency. If you have any views or comments about ANKR coin, feel free to share in the comments for discussion. Wishing you accurate investment choices and success.
