Ankr price pumps 41% following Binance lab’s strategic investment in Ankr. Binance Labs, the company’s startup capital and accelerator division, announced a strategic investment in Ankr, the Web3 industry leader in decentralized infrastructure.
Binance Labs has provided strategic funding to Ankr to support its Web3 infrastructure, expand its Web3 developer suite with its Web3 Gaming SDK, Liquid Staking SDK, and App Chains as a Service, and improve its industry RPC service. The price of Ankr has increased by 41% due to the news.
BNB Chain Adopted Web3 with Ankr’s Help
Binance Labs made the strategic investment after Ankr made open-source improvements to the BNB Chain, introduced BNB Liquid Staking, and maintained support for the ecosystem. Ankr’s network improvements will benefit all BNB Chain projects and consumers, and a reliable and fast BNB Chain will increase Web3 adoption.
According to Ankr, the 18 blockchains in the protocol host RPCs that receive more than 7 billion blockchain queries per day on average. The company upgraded the BNB chain, including the Erigon update, which it claims reduced storage requirements by 75% and increased RPC request throughput by 10X. It also helped to build the network’s core infrastructure.
Two new additions to the BNB network are the Archive Node and the most recent BNB Application Sidechains (BAS) scalability solution. Ankr also supports BNB Liquid Staking, giving BNB token holders several options for earning in DeFi with their assets. In addition, it allows for the simultaneous use of techniques like farming, lending, staking, contributing to vaults, and more.
Ankr Gives Developers the Ability to Staking
Ankr enables blockchain businesses to operate their blockchains more quickly, allowing them to provide the best Web3 experiences to their customers. The company has announced a set of staking software development kits (SDKs) for developers interested in incorporating liquid staking solutions into their projects and platforms.
Blockchain developers can enable their customers to stake tokens to receive rewards and receive a liquid staking token that can be used to achieve more yield and services across web3.
The SDKs will begin by addressing staking on five major blockchains, according to the San Francisco-based Web3 infrastructure: BNB Chain, Ethereum, Avalanche, Polygon, and Fantom.
Ankr Price Review and Tokenomics
Binance Labs recently invested strategically in Ankr, a decentralized cross-chain staking platform. Ankr could benefit from the support of such a large strategic partner in its goal of attracting more and more cryptocurrency users. An hour after the news, ANKR prices increased by more than 60%, and many investors decided to sell.
Because of the price increase, the project’s capitalization increased by $170 million, bringing its total estimated worth to $526 million. Binance Labs’ investment amount is unknown, and the token price cap is difficult to predict, but we could still see interesting price changes.
Ankr Price Pumps 41% – Technical Outlook
The ANKR/USDT is currently trading at $0.045, down from 22% after gaining more than 60%. The ANKR/USDT pair reached a high of $0.0588, but the coin has begun to exhibit a slight bearish correction since entering the overbought zone.
ANKR Price Chart – Source: Tradingview
On the 4-hour chart, the ANKR/USDT pair has already completed at $0.048. Now it’s descending towards the 50% Fibo level at $0.044. ANKR could be exposed to 61.8% Fibo retracements at $0.041 if selling pressure increases.
Alternatively, a close of candles above $0.41 can initiate a new bullish trend. On the upside, ANKR may target $0.048, while a breakout of $0.048 may send the coin to $0.052 or $0.058. Good luck!
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