Ankr (ANKR) is attracting fresh attention despite the price being 3.7% down over the past week and 7% in the past month.
The decentralized Web3 infrastructure platform has multiple key developments and potential bullish catalysts as the price hovers around the $0.025 level.
Notably, ANKR has bounced from the lows of $0.020 reached on Aug. 5 as the crypto market sell-off pushed both Bitcoin (BTC) and Ethereum (ETH) to new multi-month lows.
How has ANKR price performed in 2024?
ANKR is the token that drives Ankr’s decentralized ecosystem. Other than governance, the token is key to the network’s transactions and payments system.
Token holders can stake them to earn rewards as well as access other services that support the broader decentralized ecosystem
However, the price of ANKR has underperformed since reaching an all-time high above $0.21 in April 2021. Despite a surge to $0.06 as Bitcoin soared to its all-time highs in March, ANKR is back to levels seen in January this year.
ANKR building up momentum
Ankr’s decentralized infrastructure ecosystem powers everything, from node operations for most of the proof-of-stake protocols to cloud computing to liquid staking.
There’s also artificial intelligence, real-world assets (RWA) and decentralized physical infrastructure networks (DePIN). Analysts forecast these as huge markets, particularly as major institutional players take note.
The Ankr network looks well-positioned to tap into this with various milestones and partnerships.
Such initiatives target the empowerment of both developers and users. Some of the collaborations have included major IP partnerships with global giants such as Google Cloud, Alibaba Cloud, Microsoft Azure and Tencent Cloud.
The blockchain’s Web3 API connects developers, decentralized applications, and the real world, with this currently possible for more than 55 blockchains, including Bitcoin. That’s a more than 200% spike in integrations since 2022 when there are about 17 chains.
We’re just getting warmed up 🚀 pic.twitter.com/KokzfufnDh
— Ankr (@ankr) July 19, 2024
Ankr has recently partnered with Asphere, a bespoke rollup creation platform that has helped build solutions for Binance, Polygon and Microsoft to launch Destra Network’s rollup on Arbitrum.
Could Neura help unlock ANKR?
Apart from the overall network growth, Ankr token holders are likely to be keen on potential upside momentum from the project’s AI Layer1 blockchain Neura.
Neura is an EVM-compatible blockchain built with Cosmos SDK’s IBC protocol and offers a network that allows developers to build AI-focused dApps. The platform also aims to boost AI startups by providing tools for decentralized fundraising, access to GPU resources and decentralized storage.
The ANKR token will power this ecosystem, serving as the primary currency for the network’s AI model usage and staking among other uses. Ankr will transfer “a portion” of the ANKR supply to Neura and that’s likely to see a new demand curve emerge.
🤨 A portion of the ANKR token supply will move to the @Neura_io chain, enhancing TVL and value capture within the Neura ecosystem. This strategic move aims to strengthen both ecosystems. pic.twitter.com/TXDdlJpbb8
— Ankr (@ankr) August 6, 2024
Neura’s mainnet is expected in Q4 and will offer the Ankr and Neura communities an array of avenues to tap into the development.
That includes crowdfunding for new AI projects as early investors, revenue-share opportunities and staking rewards for helping to secure the Neura network.
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