The Ankr price has rebounded in the past few weeks. The price of the ANKR token is trading at $0.1423, which is about 25% above the lowest level this week. This rebound has brought its total market capitalisation to more than $1.2 billion. This makes it the 112th biggest cryptocurrency in the world. Still, its price is about 42% below its highest level this month.
What is Ankr protocol?
The Ankr protocol is a blockchain project that enables developers to harness the power of remote procedure calls (RPC). The RPC enables developers to access data from multiple blockchains like Ethereum, Binance Smart Chain, and Avalanche.
Through this network, users can view data in real-time. It also combines web3 and DeFi capabilities. In the past few months, it has seen the number of RPCs jump to more than 2 billion per day and the number of active endpoints jump to more than 25,000. ANKR is the native token for this ecosystem.
So, is the Ankr Protocol a good investment? It is too early to tell whether the ANKR price will keep rising in the long-term. But for the protocol itself, it will continue expanding as the DeFi and web3 ecosystem keeps expanding.
ANKR price prediction
The Ankr price has moved sideways in the past few weeks. During this time, it has found strong support at $0.1180, where it has struggled to move below. Now, the coin has bounced back and moved above the 25-day and 50-day moving averages. Notably, it is approaching the key resistance level at $0.1630, which was the highest level on November 2 and 14.
Therefore, a move above this level will send signals that there are still more buyers in the market. These buyers will be keen to push its price to the next key resistance at $0.200, which is about 42% above the current level.