ANKR coin is keeping its positions pretty strong in the long run. But is there a chance ANKR price will rise again? Look at our analysis of ANKR crypto to find out what the future of this coin might be.
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Ankr Fundamental Analysis
The Ankr network is bringing the great advantages of the sharing economy into the crypto space, and it has experienced some outstanding performance in 2021 so far. Just like today, it is possible to list a spare room online for guests to book and make some extra cash in the process, the Ankr project is doing exactly the same with cloud resources and computing power. Built on traditional blockchain architecture, it comes with a consensus mechanism and an incentive system that makes sure the networks are strong enough to support both retail and enterprise customers. Their Proof of Useful Work (POUW) mechanism guarantees the potential of distributed cloud computing by giving Ankr tokens ($ANKR) to those who secure the network and promote block propagation. In a similar way, as reputation systems are widely common in sharing economy platforms, Ankr ensures the legitimacy of its actors by filtering them based on node contributions and performance tests. Despite promoting a decentralized network of cloud resources, the project uses the Intel Software Guard Extension technology to achieve a higher security level by processing specific executions within the hardware. This highly decreases the chance of malicious actors joining the network and limits the number of supported users to run a verification node. Such an ambitious project requires a solid team of engineers and advisors that can help support the solutions it provides. It is no surprise that two of their founders had worked at Amazon developing Alexa Internet and Amazon Web Services, which gives them pioneering knowledge of cloud computing. Furthermore, other executives have worked for some of the best performing Silicon Valley companies and have all gathered at Ankr to merge their sound expertise and build a project that offers a very attractive on-demand solution able to help companies drastically reduce their costs. The Ankr’s approach to cloud services offers up to 80% cost savings for users, which is very attractive for businesses trying to optimize the expensive rates of other cloud service providers. Moreover, they have built very interesting partnerships with successful blockchains like Polkadot, Binance Smart Chain, and Harmony that will certainly bring more users on the board. In December 2020, they also launched Stkr, a decentralized ETH 2.0 staking solution that has staked nearly 50,000 ETH at the time of writing. These developments helped the impressive price run experienced by the Ankr token in March 2021, hitting an all-time high of $0.2135 and reaching an almost 10x increase in the span of a few weeks.
Ankr Live Price Chart
With Ankr's value ascending by over 2,500% in 2021 and 11,000% since its start, investors may consider what will occur next. Since March 2021, the Ankr coin forecast is bullish, gesturing towards a prolific Ankr future price based on its synchronic success. Thanks to its robust technology, significant market cap, and evolving cryptocurrency market momentum, it seems well-positioned to become one of the top-traded cryptocurrencies. Even the massive drop in May 2021 hasn't influence ANKR price significantly, which characterizes the ANKR coin as a sound long-term investment.
The ANKR token has seen an upsurge in use and demand lately as the Ankr project advances, rendering a stimulus for the price to continue climbing. Investors looking for low-cost crypto investments could find the ANKR token appealing as its price, like bitcoin’s, can also profit from scarcity.
At the moment, there are ten billion ANKR tokens in circulation, and the cumulative supply of the token is limited to 10 billion coins. The coin has reached its supply cap, which is not the best news for an investor since there's no chance to hop into the token as the supply cap approaches. However, one of the reasons behind the bitcoin price surge also lies in its shortage as most of the bitcoins have been mined, bringing the total supply of bitcoins closer to the 21 million coin cap.
Ankr Technical Analysis
Ankr is a promising project that has achieved impressive milestones in a short span of time. Their native token has seen a huge price increase this year and it has attracted attention from users around the world. Their solution to expensive cloud services problems faced by multiple companies is very interesting and it is supported by a highly talented team of developers and executives. Despite facing giant competitors they have still managed to earn a reputable spot in the crypto space, and if they continue to build strategic partnerships and increase user adoption, they will begin a new era of success that could position them as the leading decentralized cloud service provider.
As it can be clear from the analysis cited above, Ankr (ANKR) projections are rather contradictory. There is no universal consensus either about positive or negative future ANKR price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Ankr projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
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