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This year has been a tough sail for Ankr since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of ANKR.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Ankr to reclaim its all-time high in 2023? Continue with the article to learn about Ankr price analysis and prediction by Coinpaper.
Read also: Ankr and Helio suffer $20m exploit, Binance pauses withdrawals
What is Ankr?
Ankr Network is a node infrastructure and decentralized web services provider that allows developers to deploy and manage nodes, staking, and decentralized applications (dApps) across different blockchain networks, including Ethereum, Binance Smart Chain, Polkadot, Kusama, Avalanche, and Polygon. ANKR is the native token of the Ankr Network ecosystem, and it serves several purposes. First, it is used to pay for the resources and services offered by the platform, such as node deployment and maintenance, staking, and dApp hosting. Users can also stake their ANKR tokens to earn rewards and participate in voting on protocol changes.
Ankr (ANKR) price
Currently, Ankr Price is USD. ANKR has a circulating supply of coins and a total supply of . If you are looking to buy or sell Ankr, Binance is currently the most active exchange.
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Ankr price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Ankr 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Ankr price at $0.056 to $0.063. On the flip side, a fading interest in the new meme coin may push the price of Ankr to $0.032-$0.018 lows.
Ankr price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Ankr (ANKR) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Ankr to climb as high as $0.075, with the more distant prospect of reaching $0.088 in 2024. The bearish scenario is likely to see Ankr (ANKR) trading between $0.061 and $0.049 in 2024.
Ankr price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Ankr (ANKR) price analysis and prediction is based on pure speculation and observation of Ankr historical price movements.
Our Ankr 2025 price forecast expects ANKR to rally towards $0.11 and reach $0.16 by the end of the year. The bearish scenario would see Ankr at $0.091 to $0.076.
Ankr (ANKR) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Ankr is neutral. In 2026, we expect Ankr to reach at least $0.24 before climbing higher to $0.31. In case of a bearish scenario, Ankr may fall to $0.11.
Is Ankr (ANKR) a good investment?
With continued developments taking place within Ankr ecosystem, its solid use case, established market position, and institutional backers, ANKR token can be a nice addition to your “crypto infrastructure” portfolio. However, keep in mind that investing in any cryptocurrency carries a high degree of risk, so make sure to do your own research before putting your money into ANKR token.
Bottom line
Are you ready to invest in Ankr? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy ANKR from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Ankr?
Ankr Network was founded in 2017 by Ryan Fang, Chandler Song, and Stanley Wu.
What was the all-time high for Ankr (ANKR) ?
The all-time high price of Ankr is $ on 2021-04-16
