Ankr Price Up 11% Amid Binance Listing and Polkadot Parachain Integration

ankr price

Ankr price is up over 11% today, making it one of the biggest gainers on Crypto.com. Currently trading at 63% of its all time high, is this the beginning of a major bull run? Let’s take a closer look at Ankr and see what all the hype is about.

What Is Ankr?

Launched in November 2017, Ankr is a distributed network of nodes across 50+ proof-of-stake chains. Their mission is to make Web3 easily accessible to everyone.

The biggest selling point of Ankr is their Eth2 staking solution, which provides an attractive reward mechanism for users. Moreover, Ankr is able to provide instant liquidity through a synthetic token called aETHc.

Why Is Ankr Price Rising?

Six days ago, on November 8th, Ankr announced their integration with Polkadot Parachain, which enabled users to participate in the first batch of Polkadot Crowdloans and earn their share of ANKR.

In recent news, Binance announced their listing of Ankr on November 11th. While Ankr’s price didn’t respond immediately, today Ankr price jumped 22% almost setting a new all time high.

ankr coinmarketcap
Source: Coinmarketcap

While there haven’t been any news regarding Ankr today, it’s clear that the Binance listing and the launch of their Polkadot campaign is a big contributor to today’s bullish momentum.

Ankr Tokenomics

ANKR currently has a market cap of $1.1 billion with a 24 trading volume of $288 million. As we can see on the chart above, the trading volume today is relatively low, which is expected since its sunday.

Whether the bullish momentum will continue depends on the trading volume. If we can see an increase in trading volume then the market will have more strength to push further. Otherwise, most likely ANKR will find new support and continue holding its $1 billion market cap.

This is not trading or investment advice, always do your own research before buying any cryptocurrency.

Follow us on twitter @nulltxnews to stay up to date with the latest cryptocurrency news!

Source

Related Posts

Axie Infinity Ronin Bridge Hacker has already moved 38,293 ETH ($114.8 million)

Axie Infinity Ronin Bridge Hacker has already moved 38,293 ETH ($114.8 million)

Ethereum › Hacks Hackers who stole over $615 million in the Ronin Network exploit have already moved over $114 million worth of Ethereum. 2 min readUpdated: April 20, 2022 at 1:41 am Cover art/illustration via CryptoSlateAlmost a month ago, Ronin Network, the side-chain built to scale Axie Infinity was exploited by hackers who made off…

Bulls in Control: Radio Caca (RACA) Listing Rumors on Binance Send Token up 20%

Bulls in Control: Radio Caca (RACA) Listing Rumors on Binance Send Token up 20%

Rumors of a possible listing of Radio Caca (RACA) on Binance made the RACA token rise more than 20% this Sunday morning (USA), according to data from the CoinGecko portal. The cryptocurrency that had been trading around $0.0018 surged to $0.0021 in less than 1 hour, boosted by rumors. At the time of writing, the…

Axie Infinity sees ‘no signs of buyers’ as AXS price tumbles 30% in two weeks

Axie Infinity sees ‘no signs of buyers’ as AXS price tumbles 30% in two weeks

Axie Infinity (AXS) price has fallen by nearly 30% two weeks after losing $625 million to a hacking incident involving its play-to-earn gaming platform’s underlying blockchain, the Ronin Network.AXS/USD dropped to $46.69 on April 11, its lowest level since March 16, signaling a dampening buying sentiment among traders and investors following the hacking incident. Independent…

Play to Earn Game Edensol Integrates Secretum Messaging and Trading dApp

Play to Earn Game Edensol Integrates Secretum Messaging and Trading dApp

With the appearance of Metaverse, GameFi projects’ popularity is increasingly growing in the blockchain space whereas Web 2.0 traditional tools seem to be obsolete and not adapted to the Web 3.0 conceptual step up. This instrumental gap is filled by a unique partnership between Secretum and Edensol. Security, transparency, decentralization and immediacy as fundamental values…