ANKR price prediction: What is ANKR?
By Peter Henn
Updated
The Ankr system aims to utilise cloud computing to help grow the blockchain but, in terms of crypto, what is ANKR?
Let’s take a look and see what we can find out, as well as examining some of the ANKR price predictions that were being made as of 2 December 2022.
What is ANKR?
Ankr is a high-performance computing platform that was invented to take advantage of unused computing resources in data centres and edge computers, in order to help developers and enterprise clients deploy blockchain nodes more quickly and at a lower cost than public cloud providers.
Public blockchains can potentially engage their communities while also decentralising and securing their networks using the Ankr network. “The future is multi-chain, and Ankr will focus on empowering all networks as a blockchain-agnostic foundation,” said the company in 2022.
Its intention is to build a one-stop shop of developer tools, building on its Ankr Protocol (launched in 2021) while staying true to its ideals.
“We will always keep our ethos of decentralising solutions and steer away from the ‘AWS of blockchains’ mentality,” the developers said. Key target sectors in 2022 include decentralised gaming and metaverse apps.
Every blockchain-based network needs to have its own native token, and Ankr has the conveniently-named ANKR crypto. This token is designed to be used to pay transaction fees on the system.
It is worth pointing out that, because ANKR is based on the Ethereum (ETH) blockchain, it is a token, rather than a coin. You might hear references to such things as an “ANKR coin price prediction”, but such terms are, technically speaking, incorrect.
ANKR price history
Let’s now cast our eyes over a brief rundown of the ANKR price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some much needed context when it comes to either interpreting an ANKR price prediction or else making one of our own.
ANKR first came onto the open market in late 2019. For the first 18 months or so of its existence it spent much of its time below the one cent mark, but things changed during the bull market of early 2021, when it reached its all-time high of $0.2252 on 28 March 2021.
After that, there was a fall, although the token was able to trade at over $0.17 in late November. So far, 2022 has seen ANKR falling in line with the wider market, with the worst point coming in the wake of the news that Celsius (CEL) had cancelled withdrawals on its crypto lending platform, confirming a bear market and sending the ANKR price down to $0.02318 on 18 June 2022.
Since then the price has not been able to reach previous highs. As of 2 December 2022, it was worth about $0.02214. At that time, there were 9.66 billion ANKR in circulation, out of a total supply of 10 billion. This gave the token a market cap of about $213m, making it the 122nd-largest crypto by that metric.
This follows the news of an Ankr exploit that affected the Ankr Reward Bearing Staked BNB (aBNBc) token. At the time of writing, the Ankr team were still working to assess the full damage.
Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.
— Ankr (@ankr) 2 December 2022
ANKR price predictions
With that all said and done, let’s take a look at some of the ANKR price predictions that were being made as of 2 December 2022.
It is important to remember that price forecasts, especially for something as potentially volatile as cryptocurrency, often turn out to be wrong. We should also remind you that long-term crypto price predictions are often made using an algorithm, which can change at any moment.
First, CryptoNewsZ was pretty optimistic in its ANKR price prediction for 2023. The site said the token could trade at $0.0549 this year before potentially moving to $0.0622 in 2023. By 2024, the site suggested ANKR could be worth $0.0692, before possibly trading at $0.0861 in 2025 and possibly being worth $0.0774 in 2026.
Next, TradingBeasts had an ANKR crypto price prediction that argued the token could start 2023 at $0.0318363. A year from then, the site said ANKR could be worth $0.0373318, before making an ANKR price prediction for 2025 that saw the token start the year at $0.0475885, and reach $0.0557891 in December.
Meanwhile, DigitalCoinPrice made an ANKR price prediction that said the token could reach $0.0518 in 2023 and $0.0971 in 2025. The site went on to make an ANKR price prediction for 2030 that saw the token potentially trading at $0.31.
Finally, Wallet Investor made an ANKR token price prediction that saw dark days ahead, arguing that ANKR could drop to $0.00113 in a year.
When considering an ANKR token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision.
Keep in mind that past performance is no guarantee of future returns, and never invest any money that you cannot afford to lose.
FAQs
Is ANKR a good investment?
It is hard to say. A lot will depend on what the system does next, as well as how the crypto market performs as a whole.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear market, so investors should be prepared to make losses and never purchase more than they can afford to lose.
Will ANKR go up or down?
It is difficult to tell. While sites like DigitalCoinPrice were pretty optimistic as of 2 December 2022, others such as Wallet Investor were far more gloomy. It is important to remember that price predictions often turn out to be wrong, and that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether ANKR is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest any money that you cannot afford to lose.
Should I invest in ANKR?
This is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose because prices can go down as well as up.
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