Ankr Price Has Had a Spectacular Recovery. Still a Good Buy?

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The Ankr price has rebound­ed in the past few days as investors react to the lat­est batch of rewards by the net­work. ANKR price is trad­ing at $0.070, which is about 20% above the low­est lev­el this month. The net­work has a total mar­ket cap­i­tal­iza­tion of $565 mil­lion, mak­ing it the 117th biggest cryp­tocur­ren­cy in the world.

What is ANKR?

Ankr is a blockchain project in the Web 3 infra­struc­ture indus­try. It is a plat­form that com­bines node infra­struc­ture, stak­ing, and decen­tral­ized finance (DeFi) to make devel­op­ing easy. It is at the con­ver­gence of the web3 and DeFi industries. 

Today, the net­work process­es more than 1 bil­lion trans­ac­tions per month. It han­dles about 500 mil­lion calls to the blockchain net­work every day. Most impor­tant­ly, it sup­ports more than 45 chains like Ethereum, Avalanche, Poly­gon, and Binance Smart Chain.

The Ankr price is ris­ing as the devel­op­ers start­ed to dis­trib­ute its first batch of rewards for liq­uid crowd­loans. There­fore, Ankr’s users will start col­lect­ing their first rewards for the win­ning parachains. The devel­op­ers wrote;

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“Through the brand new Ankr Earn dash­board, you can claim the liq­uid crowd loan tokens that rep­re­sent your bond­ed DOT. This will start with the Moon­beam project that will reward aDOTp-GLMR tokens to those who contributed.”

Ankr price prediction

The four-hour chart shows that the Ankr price has been in a strong bull­ish trend in the past few days. The coin has risen by above 20% from its low­est lev­el this year. Along the way, the coin remains between the 25-day and 50-day expo­nen­tial mov­ing aver­ages (EMA). The Rel­a­tive Strength Index (RSI) has moved above the over­sold level. 

There­fore, there is a like­li­hood that the ANKR price will keep ris­ing as bulls tar­get the 50% retrace­ment lev­el at $0.08, which is about 27% above the cur­rent level. 

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