Ankr (ANKR) is one of the best-performing cryptos, gaining as much as 70% in the last week.
The Ankr rally is sponsored by major partnerships with tech giants Microsoft and Tencent Cloud.
The Web3 infrastructure provider has also partnered with Storj to provide node snapshots as a service.
Ankr is preparing to launch a developer RPC connection to zkSync for more scalable dApps.
Project Review
Ankr is the leading blockchain Web3 infrastructure provider that aims to reduce bottlenecks in participating and building decentralized apps (dApps), hosting nodes, or staking.
With this goal, Ankr has launched multi-chain tools that developers can use as a foundational layer for building in Web3, Decentralized Finance (DeFi), and blockchain. Ankr also acts as a cross-chain staking DeFi platform.
Ankr’s utility token, ANKR, is used for staking, rewards, and voting on governance proposals. In addition, ANKR is used as a payment method for accessing services on the protocol, including dApp and node deployment.
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Recent Developments
By being ahead of the pack in providing tools for Web3 infrastructure development, Ankr has become one of the most dominant platforms, entering partnerships with some of the biggest tech companies.
On February 21st, Ankr announced a partnership with Microsoft. Both firms will collaborate to launch an enterprise-level blockchain node service on Microsoft’s Azure software marketplace.
Just a day later, Tencent Cloud, a subsidiary of the Chinese tech giant, announced it had signed a memorandum of understanding (MoU) with Ankr. The partnership will see them develop a full suite of blockchain API services.
On February 23rd Ankr and Storj will enter into a partnership to provide node snapshots as a service via the new Chainsnap platform. The launch will make deploying blockchain nodes easier for individuals and organizations.
The recently launched Ankr pool on the Binance chain has been announced to be fully operational with a liquidity mining campaign to source Binance Coin (BNB )borrow liquidity to enable leveraged liquid staking.
Price Updates
The long list of partnerships and collaborations turned the sentiments of Ankr’s native toke ANKR very bullish, outperforming the entire crypto market. At the peak of its rally, ANKR had amassed gains of over 70% in seven days.
The seven-day price chart for Ankr (ANKR). Source: CoinMarketCap
The rally saw ANKR trade as high as $0.05474 for the first time since August 2022. However, the rally has cooled off, and ANKR is experiencing a steep retracement. Over the last 24 hours, the token has lost 7.6% of its value.
The 24-hour price chart for Ankr (ANKR). Source: CoinMarketCap
ANKR trades at $0.046 and is ranked as the 95th biggest crypto project, with a market cap of $455.9 million.
Future Events
Before the barrage of partnerships and collaborations, Ankr announced the team was preparing to launch a developer RPC connection to zkSync. zkSync leverages ZK roll-up tech with cryptographic validity proofs to provide scalability and cheaper fees.
The launch will help solve major developer problems, helping them create more scalable Ethereum ecosystem dApps. While there’s no launch date, the team says developers will soon be able to access the zkSync Testnet and Mainnet with Ank’s RPC endpoints.
Speaking on the launch of zkSync on Ankr RPC Endpoints, Josh Neuroth, Ankr’s Head of Product, says the “connection to the Layer-2 chain for every builder and Web3 app, this could be one of the most powerful scaling solutions we’ve seen to date.”
On the Flipside
The blockchain infrastructure provider Ankr has suffered its fair share of security mishaps, falling victim to a hack in December.
A former employee of the crypto startup instigated the exploit that led to the theft of over $5 million from the platform.
Community
Ankr has built one of the biggest, fastest-growing communities in crypto. Community members call themselves Ankbassadors who see Ankr as a top project and are dedicated to ensuring its growth.
One such enthusiast with the pseudonym @Crypto_Tigress on Twitter writes about the project:
In the face of the numerous partnerships, Crypto Acolyte @edits_ten writes:
Bullish about the prospects of ANKR, @CryptoNoan writes:
Why You Should Care
ANKR is receiving massive attention as more major tech players launch new products and build in the Web3 ecosystems. Because Ankr’s products are built to boost the Web3 economy, the project could continue seeing more partnerships and collaborations.