Home / Analysis / Crypto / Price Predictions / Ankr Price Prediction 2024: ANKR Price Analysis

Ankr Price Prediction 2024: ANKR Price Analysis

Last Updated 5 days ago
Valdrin Tahiri
Last Updated 5 days ago
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • ANKR has created two higher lows after bottoming in December 2022.
  • The ANKR price reached a new yearly high in March but has fallen since.
  • Our ANKR price predictions suggest the bottom is close.

The ANKR cross-chain protocol and its native token have made something of a comeback after plummeting in early September 2023. Ankr said  it’s expanding its DePIN network to supercharge its performance while increasing decentralization with the help of the CLV  by Clover, IoTeX, Tencent Cloud, Storj, Mind Heart Soul, Gateway FM and Ankr labs.

The platform hopes the news it was launching team accounts can help boost the price of ANKR.

Senior project manager Mike Kondratev told CCN: “We’re excited to introduce Team Accounts, another addition to our RPC platform that empowers enterprises and developers to unlock the full potential of their blockchain infrastructure. Team Accounts streamline project management, foster collaboration, and provide valuable insights, enabling our customers to operate with greater efficiency and achieve their strategic goals in the ever-evolving blockchain landscape.”

Things became negative after March, as the coin’s price dropped notably below $0.10. By July 11, 2024, ANKR was worth about $0.027.

Let’s now take a look at our own price predictions for ANKR, made on July 11, 2024. We will also examine the ANKR price history, and talk a little about what ANKR liis and what it does.

ANKR Price Prediction

Here are the ANKR price predictions, made by CCN.com on July 11, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong.

Minimum ANKR Price Prediction Average ANKR Price Prediction Maximum ANKR Price Prediction
2024 $0.055 $0.09 $0.125
2025 $0.08 $0.205 $0.33
2030 $0.072 $0.09 $0.108

There are two methods used to create our ANKR price predictions. More specifically, predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average ANKR price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.

Fractal Method

In January 2020, ANKR’s weekly RSI fell below 30 for the first time in recorded history. This marked the absolute price bottom, after which ANKR started a lengthy upward movement. The price broke out from a 490-day -descending resistance trend line in June, confirming the trend reversals.

Then, the weekly RSI reached overbought territory and created a local top. However, it was the second time the RSI reached overbought territory, marking the end of the entire upward movement.

In 2022, the ANKR price movement created a similar pattern. The price creased a descending resistance trend line and the RSI fell to overbought territory in January 2023. Then, it broke out in January 2024, while the RSI moved into overbought territory shortly afterward. This marked a local top. If the pattern is followed, ANKR will soon begin another upward movement and reach a new high.

ANKR Fractal Price Prediction
ANKR/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

The duration and magnitude of the upward movements are not the same. Based on the magnitude of the first high and the duration of the resistance trend line, the current movement is 1.70 times longer but 0.45 times as strong.

Using these ratios leads to a new all-time high of $0.70 in February 2025. Projecting a similarly shaped upward movement and correction leads to ANKR price predictions of $0.125 and $0.08 at the end of 2024 and 2025, respectively.

Wave Count Method

The wave count suggests that ANKR started a five-wave upward movement in January 2023. If so, wave two was a lengthy running flat correction. Using the length of wave one gives a target of $0.20 for the top of wave three and $0.33 for the top of the entire upward movement, expected to be reached in January 2026.

During this increase, the wave count method gives an ANKR price prediction of $0.055 and $0.33 for the end of 2024 and 2025, respectively.

ANKR Fractal Prediction
ANKR/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

Finally, we use the rate of increase for the past five years to arrive at anANKR price prediction for the end of 2030. In the 1,820 days since July 2019, the ANKR price has increased by 250%, for a daily rate of increase of 0.10% per day. Projecting this rate of increase to the end of 2030 leads to a price of $0.09. Adding and removing 20% to this target leads to our minimum and maximum ANKR price predictions.

ANKR Price Prediction for 2024

The fractal and wave count ANKR price predictions give different targets for the end of 2024. While both suggest the ANKR price will be on its way toward an all-time high in 2024, the shape of the upward movement differs. So, the ANKR price targets are at $0.055 and $0.125, respectively.

ANKR Price Prediction for 2025

The fractal and wave count predictions give vastly differing targets for the end of 2025. This is because the wave count implies the all-time high will be reached during this time, while the price will already be mired in a correction in the fractal prediction. The actual ANKR crypto price predictions are $0.08 and $0.33, respectively.

ANKR Price Prediction for 2030

Finally, we use the rate of increase for the past five years to arrive at an ANKR price prediction for the end of 2030. Doing so leads to a target range between $0.072 and $0.108.

ANKR Price Analysis

The daily time frame ANKR price analysis gives a bullish outlook. Even though ANKR broke down from the $0.032 horizontal area, it bounced at the next support at$0.024 and started an upward movement.

The increase was preceded by a bullish divergence in the daily MACD and RSI (green). As a result, the price will likely increase toward the 0.032 resistance area. If so, a descending resistance trend line at $0.036 will create the next resistance. A breakout above it will confirm the bullish trend.

ANKR Price Analysis
ANKR/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

Short-Term ANKR Price Prediction

The ANKR price prediction for the next 24 hours rests on the assumption that ANKR will reach the $0.032 area and possibly break out. If the same rate of increase continues for the prediction, the ANKR price will trade higher tomorrow, possibly reaching $0.029. Then, it could reach the $0.032 area by the middle of next week.

ANKR Short-Term Prediction
ANKR/USDT Two-Hour Chart | Credit: Valdrin Tahiri/TradingView

ANKR Fear & Greed Index

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview.

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction.

On July 11, 2024, the Fear & Greed Index was at 28, a sign of fear. It was neutral at 44 last week and it showed greed at 74 last month.

ANKR Average True Range (ATR): ANKR Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

ANKR ATR
ANKR Weekly ATR | Credit: TradingView

Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 10, 2024, ANKR’s weekly ATR was 0.008, a sign of low volatility. As a proportion of the $0.028 ANKR’s price, the ATR is 0.29.

ANKR Relative Strength Index (RSI): Is ANKR Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On July 10, 2024, the ANKR weekly RSI was at 42, a sign of a bearish trend. The RSI has fallen since the yearly high in March.

ANKR Relative Strength Index
ANKR Weekly RSI | Credit: TradingView

ANKR Market Cap to TVL Ratio

The Total Value Locked (TVL) to market cap ratio (TVL ratio) measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to the value of locked assets.

ANKR Market Cap to TVL
ANKR Market Cap to TVL | Credit: DeFiLlama

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets. On July 11 2024, the ANKR market cap to TVL ratio  was 4.89, suggesting overvaluation.

ANKR Price Performance Comparisons

ANKR is a Decentralized Infrastructure project (DePin), so let’s compare it with other similar cryptocurrencies.

Current Price One Year Ago Price Change
ANKR $0.028 $0.025 15%
Siacoin $0.0050 $0.0033 46.5%
Golem $0.32 $0.20 68%
Render Token $6.56 $1.94 233%

Best Days and Months to Buy ANKR

We took a look at the ANKR price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, indicating the best times to buy ANKR.

Times to Buy ANKR Days, Months and Quarters
Best Day of the Week Saturday
Best Month March
Best Week 13
Best Quarter Q1

ANKR Price History

Let’s take a closer look at the ANKR price history. While past performance isn’t necessarily indicative of future results, understanding what ANKR has done can help us contextualize future predictions.

2019-2020: ANKR first came onto the open market in March 2019, when it was worth about $0.01. It soon dropped below the cent.

2021: Things changed in early 2021, when crypto went through a bull market. 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, closing 2021 at $0.1004.

2022: 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.

2023: ANKR had a year of ups and downs. It started well, breaking past $0.05 in February, but declined thereafter. The fallout from the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase crypto exchanges saw ANKR fall below $0.02 in mid-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. On September 11, 2023, ANKR fell to a low of $0.01703. There was some recovery later in the year, and ANKR closed 2023 at $0.02852, marking a year-on-year rise of about 80%.

2024: On July 11, 2024, the ANKR crypto was worth $0.028.

ANKR Price History
ANKR Price History | Credit: CoinGecko
Period ANKR Price
Today (July 11, 2024) $0.028
Last Week (July 4, 2024) $0.026
Last Month (June 11, 2024) $0.037
Three Months Ago (April 11, 2024) $0.056
Last Year (July 11, 2023) $0.024
Launch Price (March 7, 2019) $0.011
All-Time High (April 16, 2021) $0.213
All-Time Low (March 13, 2020) $0.00007

ANKR Market Cap

The market capitalization, or market cap, is the sum of the total number of ANKR in circulation multiplied by its price. On July 11, 2024, ANKR’s market cap was $28263 million, making it the #202nd largest crypto by that metric.

ANKR Market Cap
ANKR Market Cap | Credit: CoinGecko

 

Who Owns the Most ANKR (ANKR) Tokens?

As of March 19, 2024, the five wallets with the most ANKR tokens  were

  • 0x64014e0614b3942959f48a3b529d45ba33793464. This wallet held 1,237,932,249 ANKR, or 12.38% of the supply.
  • 0xa93feeb4740dd145299211551c7ce9d93f818d4f. This wallet held 1,113,579,891 ANKR, or 11.13% of the supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet held 996,687,601 ANKR, or 9.97% of the supply.
  • 0xefa1f626670445271359940e1ac346ac374019e7. This wallet held 554,473,378 ANKR, or 5.54% of the supply.
  • 0xab15b0bddc012092cb23f53953149a7f8c1f9e7f. This wallet held 321,878,433 ANKR, or 3.21% of the supply.

Fact Box

Supply and distribution Figures
Total supply 10,000,000,000
Circulating supply as of July 11, 2024 10,000,000,000 (100% of total supply)
Holder distribution as of July 11, 2024 Top 10 holders owned 51% of supply

From the Whitepaper

In its technical documentation, or whitepaper , ANKR says Ankr 2.0 is the missing link for Web3 to become decentralized once and for all. Allowing blockchains to work with multiple infrastructure providers on a single network has always been the dream for greater speed, reliability, and decentralization.

“Now with the Ankr Network, that’s all possible. It’s a major move forward for the industry to keep innovating towards an infrastructure that can handle mass adoption in the years to come.”

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. 

Is ANKR a Good Investment?

It is hard to say. While ANKR has made a recovery in recent months, it is not out of the woods yet. The platform is looking at developing new partnerships, so it may not be time to write it off. 

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.

FAQs 

How many ANKR are there?

On July 11, 2024, there were 10 billion ANKR in circulation, representing the total supply.

Will ANKR reach $1?

Our price predictions suggest it will not, reaching a maximum all-time high of $0.70

What is ANKR used for?

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.

 

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.
Was this Article helpful? Yes No