The future of ANKR after Binance Labs makes a strategic partnership with Ankr

By:
on Aug 12, 2022
  • Ankr (ANKR) has increased in value by 42% in the last 24 hours, and its trading volume spiked 1,413%.
  • Binance Labs has made a strategic investment in Ankr.
  • The goal of this investment is to improve the scalability of blockchain networks.

Ankr (ANKR/USD) is essentially a decentralized blockchain infrastructure provider that can operate an array of different nodes on a global scale across numerous Proof-of-Stake (PoS) networks.

It features an infrastructure that can help drive the growth of the crypto economy while also powering multi-chain tools available to Web3 users.

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Binance Labs’ strategic investment as a catalyst for growth

Through an official announcement on August 11, 2022, Binance said that Binance Lab has made a strategic investment in Ankr.

Binance Labs is the venture capital arm and accelerator of Binance. The funds are aimed at ramping up the work on Ankr’s remote procedure call (RPC) service whilst building out the Web3 developer suite.

Ankr was originally launched in 2017 and provides builders with streamlined access to a global network of nodes that run on 18 different blockchains. 

Ankr has previously made open-source contributions to the BNB Chain and to BNB Liquid Staking.

Furthermore, it assisted in building out BNB Chain’s core infrastructure and improved the BNB ecosystem by implementing the Ergon and Archive node upgrades alongside the BNB Application Sidechain (BAS) scalability solution.

The Erigon upgrade specifically reduced BNB Chain’s storage requirement by 75% while also increasing the RPC performance tenfold. This also led to a synchronization process that is 100 times faster. 

Should you buy Ankr (ANKR)?

On August 12, 2022, Ankr (ANKR) had a value of $0.04911.

To get a better perspective as to what kind of value point this represents for the ANKR cryptocurrency, we will be going over its performance in July, as well as its all-time high value.

The all-time high for the ANKR cryptocurrency was on April 16, 2021, when it reached a value of $0.213513.

When we go over its performance throughout the previous month, Ankr (ANKR) had its lowest point of value on July 13 at $0.02519. Its highest point was on July 20 at $0.0332.

Here we can see that the cryptocurrency increased in value by $0.00801 or by 32%.

With this in mind, we can expect the ANKR cryptocurrency to reach $0.08 in value by the end of August 2022. Buying ANKR represents a solid purchase opportunity, as long as you manage your risk and stop loss.

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