ANKR becomes top validator on Binance Chain gains 137%

Written by: Ali Raza
March 13, 2021
  • ANKR price and market capitalization, has hit an all-time high of $0.067 and $420 million respectively.
  • The protocol has increased deployment speed as users can now deploy nodes within minutes.
  • The growing interest in Decentralized Finance (DeFi) and non-fungible tokens drive crypto market cap higher.

Ankr protocol recently became the top validator of the Binance Smart Chain blockchain. Since then, the protocol has never stopped growing.

It has gained an outstanding 137% in the market, which was driven primarily by new partnerships, integration with Bitcoin Smart Chain (BSC), and important performance improvements.

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The Ankr protocol offers users the ease to access a wide range of blockchains at a go, including Polkadot (DOT), Ethereum (ETH), and Binance Smart Chain (BSC).

Using a cloud solution, users can deploy nodes within a very short time. This deployment speed has attracted both users and developers alike.

Improved deployment speed

The ANKR token reached an all-time high of $0.067 today, and its market capitalization also hit a record high of $420 at the same time.

While the crypto industry may have contracted, its current level is different from the retracement level witnessed after the Bull Run in 2017.

During the 2017 crypto surge, most cryptocurrencies increased in value during the rush for their IPO. But this time is different. Users are now seeing the real value of the assets these tokens are representing and price movement is now dependent on that.

The high increase of the ANKR token is a result of the protocol’s increased activities in the market and a combination of other fundamental factors, as noted by observers.

Additionally, the present altcoin season is focused on yield farming, liquidity, and lending.

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NFT and DeFi trigger high crypto capitalization

There is also a growing interest in Decentralized Finance (DeFi) as well as the anticipation massive expectation of staking nonfungible tokens. These have all contributed to driving the total cryptocurrency market capitalization to new highs.

Last month, ANKR had a market capitalization of $170 million and was doing relatively normal. However, the recent unprecedented surge was believed to have been triggered by the Binance Smart Chain integration.

Ankr will also be handling Eth2 token with as low as o.5 Ether. It also issues a synthetic asset known as aETH, which provides instant liquidity.