What's next for ANKR?
Key Takeaways
- ANKR has struggled in challenging market conditions over the last month or so.
- A partnership with the SEI blockchain could potentially see it increase its reach.
- Can ANKR break through the slump?
- One ANKR price prediction says it can reach $0.0646 in two years’ time.
The ANKR cross-chain protocol and its native token have taken a hit in recent weeks. The crypto market collapse of mid-August 2023 took its toll, and it has fallen by about a quarter in a month.
Even the news that it was partnering with the SEI blockchain could help raise the price from the mire. The new link up will see SEI decentralized application (DApp) developers gain access to ANKR’s tools.
Josh Neuroth, ANKR’s Vice President of Product told CCN.com: “ANKR was excited to add support for Sei on our RPC [Remote Procedure Call] platform as it is a highly anticipated chain.
“Our RPC service is dedicated to empowering developers on the Sei chain, enabling them to create groundbreaking solutions and drive the future of scalable blockchain applications.”
But what is ANKR (ANKR)? How does ANKR work? Let’s see what we can find out, and also take a look at some of the ANKR Price Predictions that were being made as of September 8 2023.
ANKR Price Prediction
Let’s examine some of the ANKR price predictions being made on September 11 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2023 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $0.0132 | $0.0381 | $0.0952 |
| Prediction #2 | $0.0361 | $0.0646 | $0.19 |
| Prediction #3 | $0.029 | $0.062 | $0.43 |
First, CoinCodex had a short-term ANKR price prediction that suggested some good times were ahead. It said the token would reach $0.01919 by September 15 before continuing to climb to hit $0.02154 on October 10. Despite that, the site’s technical analysis was overwhelmingly bearish, with 28 indicators sending discouraging signals and just one making a bullish one.
ANKR Price Prediction for 2023
CaptainAltCoin said ANKR would fall to $0.0132 by December. DigitalCoinPrice said it would be worth $0.0361 this year. PricePrediction.net thought it would trade at $0.029 in 2023.
ANKR Price Prediction for 2025
Moving on, DigitalCoinPrice said ANKR would stand at $0.0646 in 2025. PricePrediction.net’s ANKR price forecast said it would be worth $0.062 that year. CaptainAltCoin said ANKR would reach $0.0381 in two years’ time.
ANKR Price Prediction for 2030
Looking at a more long-term ANKR price prediction, PricePrediction.net said it would stand at $0.43 in 2030. DigitalCoinPrice thought the token would be worth $0.19 that year. CaptainAltCoin said ANKR would be worth $0.0952 by the start of the next decade.
ANKR Price History
Now, let’s examine some of the highlights and lowlights of the ANKR price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a ANKR price prediction.
ANKR first came onto the open market in March 2019, when it was worth about $0.01. It soon dropped below the cent. It was not until early 2021, when crypto went through a bull market, that things changed. On March 28 2021, it reached an all-time high of $0.2252. ANKR cooled down after this, but was still trading at more than $0.10 at the end of the year, when it was worth $0.1004.
ANKR suffered in 2022. The collapse of the Terra (LUNA) blockchain in May saw it drop below $0.03 and the FTX (FTT) exchange’s bankruptcy saw it close the year at $0.01535. This meant it lost almost 85% of its value over the course of 2022.
ANKR in 2023
So far, 2023 has been a year of ups and downs for ANKR. It started well, breaking past $0.05 in February, but has gone downhill since. The fallout of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase crypto exchanges saw ANKR fall below $0.02 in the middle of June. While it recovered, things went badly again in August. Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC) tanked the market. By September 11 2023, ANKR was worth about $0.0181.
At that time, there were 10 billion ANKR in circulation, representing the total supply. This gave the token a market cap of about $181 million, making it the 132nd-largest crypto by that measurement.
ANKR Price Analysis
Recently, ANKR has struggled. On August 11, it was worth $0.02432, which means it has lost about 25% in the course of a month. Not only that, but it is down more than 5% from its September 8 high of $0.01912.
ANKR is, however, up more than 15% since the start of the year.
Is ANKR a Good Investment?
It is hard to say. While ANKR has taken a big hit over the last few weeks, there is still some hope. The platform is looking at developing new partnerships, so it may not be time to write it off just yet.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ANKR.
Will ANKR go up or down?
No one can really tell right now. While the ANKR crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in ANKR?
Before you decide whether or not to invest in ANKR, you will have to do your own research, not only on ANKR, but on other, related, coins and tokens such as SKALE (SKL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
ANKR (ANKR) Explained
ANKR is a platform which aims to let people get involved with helping run blockchains across a variety of networks. Computer programmers Chandler Song and Ryan Fang founded the platform in 2017, and its native token, ANKR, was released two years later.
The ANKR platform is based on the Ethereum (ETH) blockchain.
How ANKR Works
ANKR aims to turn the process of setting up a node, a computer which helps a blockchain operate, into a simple process that can be carried out with just a few clicks. It offers people a series of tools which simplify the process. ANKR also lets people run nodes on a range of blockchains, potentially letting them earn more crypto.
The ANKR token is used to pay for transactions on the network. Holders can vote on changes to the platform, and people can buy, sell, and trade it on exchanges.
Because ANKR is based on Ethereum, it is a token, not a coin. You might see references to such things as an ANKR coin price prediction, but these are wrong.
FAQs
It might do one day, but not for quite a long time. PricePrediction.net says ANKR could, potentially, break past the dollar in 2032, but suggests this is unlikely. Keep in mind that the highest ANKR has ever traded at is $0.2252, which it reached in March 2021. The ANKR token pays for transactions on the ANKR platform. Holders can vote on changes to the platform, and people can buy, sell, and trade it on exchanges.Will ANKR reach $1?
What is ANKR used for?
Further reading
Ben Price Prediction 2023: What is BEN?
Mina Price Prediction 2023: What is MINA?
Kaspa Price Prediction 2023: What is Kaspa (KAS)?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
