Ankr Price Prediction: How High Will Ankr Go In 2024?

Ankr is designed as a high-performance computing platform that leverages underutilized resources in data centers and edge devices. This approach allows developers and enterprise clients to deploy blockchain nodes faster and at a lower cost compared to traditional public cloud services. The Ankr network enables public blockchains to engage their communities while decentralizing and securing their networks. In 2022, the company stated, “The future is multi-chain, and Ankr will focus on empowering all networks as a blockchain-agnostic foundation.” Ankr aims to create a comprehensive suite of developer tools through its Ankr Protocol, introduced in 2021, while adhering to its core principles. The developers have expressed a commitment to decentralization, distancing themselves from the ‘AWS of blockchains’ approach. In 2022, Ankr targeted key sectors such as decentralized gaming and metaverse applications. Ankr also has its own native token, ANKR, which is used primarily to cover transaction fees within the network. Over the last months, ANKR price has been on an upward trajectory following bullish market sentiment and now aims for a new ATH. In this article, we’ll explore ANKR price prediction with in-depth technical analysis of the ANKR token to determine its current market trend and future potential.

ANKR: A Quick Overview

Founded in 2017 by CEO Chandler Song, Ankr emerged with the mission to facilitate the development of Web3, also known as the decentralized internet. It is a blockchain-based platform that supports cross-chain interactions and features a DeFi platform for staking and dApp development. The platform hosts various protocols essential for the development of decentralized applications (dApps) and the DeFi sector.

Ankr was conceived from the vision of a new internet architecture built on distributed ledger technology. This new internet is characterized by decentralized applications, protocols, and systems that are more private and secure for users. The core philosophy behind Ankr is to eliminate the need for central authorities and intermediaries, thereby transferring ownership and control of data and applications back to users and network participants.

In 2019, after launching its mainnet, the Ankr development team introduced a staking protocol called Stkr. This protocol allows users to stake Ethereum (ETH) and receive aETH in return, which represents future returns on their staked balance. Stkr is designed to reward network participants for their contributions to the staking process. Additionally, users can deploy development nodes to build dApps or set up staking nodes to enjoy the benefits of staking on the ANKR Web3 platform.

Ankr announced that it is enhancing its DePIN network by boosting performance and further decentralizing the network, with the support of CLV by Clover, IoTeX, Tencent Cloud, Storj, Mind Heart Soul, Gateway FM, and Ankr Labs.

The technical documentation, or whitepaper, for ANKR describes Ankr 2.0 as a crucial development for the decentralization of Web3. It suggests that the ability for blockchains to collaborate with multiple infrastructure providers within a single network has been a long-standing aspiration to enhance speed, reliability, and decentralization.

“The Ankr Network makes this a reality,” the document states. “This represents a significant advancement for the industry, driving innovation towards an infrastructure capable of supporting widespread adoption in the future.”

ANKR: Working Module

The Ankr platform offers distributed networks of blockchain nodes, facilitating cross-chain development access. As an early player in the Web3 space, Ankr enables reliable and precise communication and integration for its users. It supports the cryptocurrency community by allowing one-click node deployment and providing API services, with access to over 40 major blockchains.

The Ankr project leverages its computing power, underpinned by distributed ledger technology, to gather data from data centers at minimal costs. These data centers are interconnected through the Ankr platform to form a unified computing network.

Additionally, Ankr hosts a DeFi platform and offers cloud services that aid developers and stakers in the creation and distribution of decentralized applications (dapps) and in staking their balances. ANKR, an ERC-20 token, represents the Ankr project on the Ethereum blockchain. Ankr can be purchased with Ethereum (ETH), which also serves as the payment method for services on the platform.

ANKR is designed to simplify the setup of a node—a computer that supports blockchain operations—making it a straightforward process achievable with just a few clicks. The platform provides a suite of tools that streamline this setup process. Additionally, ANKR enables users to operate nodes across various blockchains, which may increase their potential to earn additional cryptocurrency.

The ANKR token facilitates payment for transactions within the network. Token holders have the right to vote on proposed changes to the platform, and the tokens can be bought, sold, and traded on various exchanges.

Since ANKR operates on the Ethereum blockchain, it is classified as a token rather than a coin. Despite occasional references to “ANKR coin” and associated price predictions, such terms are technically incorrect.

ANKR Price Prediction: Price History

Now, let’s review some key moments in the price history of ANKR. While past performance is not necessarily indicative of future results, understanding the token’s historical achievements can be quite informative for those looking to make or analyze predictions about ANKR’s price.

ANKR was introduced to the public market in March 2019 with an initial value of around $0.01. It quickly fell below this threshold. Significant change came in early 2021 during a cryptocurrency bull market. On March 28, 2021, ANKR reached its peak at $0.2252. Following this peak, the price settled down but remained above $0.10, closing the year at $0.1004.

The year 2022 was challenging for ANKR. The collapse of the Terra (LUNA) blockchain in May caused its price to fall below $0.03. Later, the bankruptcy of the FTX (FTT) exchange further impacted its value, ending the year at $0.01535—a nearly 85% decline from its value at the start of the year.

2023 was a mixed year for ANKR. The token began positively, climbing over $0.05 in February, but its trajectory shifted downward afterward. The situation worsened when the U.S. Securities and Exchange Commission (SEC) initiated lawsuits against the Binance and Coinbase cryptocurrency exchanges, leading to a significant drop in ANKR’s value, falling below $0.02 by mid-June.

Although it saw some recovery, the market faced another setback in August when SpaceX, led by Elon Musk, offloaded a substantial amount of Bitcoin, adversely affecting the broader market. On September 11, 2023, ANKR hit a low of $0.1703. The token managed some recovery towards the end of the year, closing at $0.02852, marking an 80% increase year-on-year.

ANKR Price Prediction: Technical Analysis

Ankr price is showing growth within an ascending channel pattern, signaling that investors are purchasing during price dips. After declining heavily for over the last few days, ANKR price is now on a path for recovery. As of writing, Ankr price trades at $0.042, surging over 1.15% in the last 24 hours. 

ANKR/USDT Chart On TradingView

The price recently fell below the previous channel, but the pronounced wicks on the candlesticks indicate vigorous buying near the support level. The inability to maintain lower prices likely enticed more buyers, aiming to drive the price toward the resistance level around $0.048.

Both moving averages are trending downwards, and the RSI remains in the negative territory, hinting that the selling side has the upper hand. However, this bearish scenario could be invalidated if the ANKR/USDT pair rebounds above the EMA20 trend line. The 4-hour chart shows that the price recovery might encounter resistance at the 20-EMA and again at the ascending trendline. Should the price reject at the upper resistance and fall below $0.037, the pair could decline to $0.03.

Conversely, if the bulls manage to push the price above the trendline, it could indicate the end of the correction phase. The pair might then target a significant resistance level at $0.065.

ANKR Price Prediction By Blockchain Reporter

Ankr Price Prediction 2024

As per the forecast and technical analysis, In 2024 the price of Ankr is expected to reach a minimum price value of $0.0511. The ANKR price can reach a maximum price value of $0.0594 with the average value of $0.0531. 

Ankr Price Prediction 2025

Ankr price is forecast to reach a lowest possible level of $0.0730 in 2025. As per our findings, the ANKR price could reach a maximum possible level of $0.0891 with the average forecast price of $0.0756. 

ANKR Price Forecast for 2026

The price of Ankr is predicted to reach a minimum value of $0.1058 in 2026. The Ankr price could reach a maximum value of $0.1294 with the average trading price of $0.1088 throughout 2026. 

Ankr (ANKR) Price Prediction 2027

As per the forecast price and technical analysis, In 2027 the price of Ankr is predicted to reach at a minimum level of $0.1527. The ANKR price can reach a maximum level of $0.1862 with the average trading price of $0.1581. 

Ankr Price Prediction 2028

The price of Ankr is predicted to reach a minimum level of $0.2309 in 2028. The Ankr price can reach a maximum level of $0.2716 with the average price of $0.2388 throughout 2028. 

Ankr Price Prediction 2029

Ankr price is forecast to reach a lowest possible level of $0.3251 in 2029. As per our findings, the ANKR price could reach a maximum possible level of $0.3985 with the average forecast price of $0.3371. 

Ankr (ANKR) Price Prediction 2030

According to our deep technical analysis on past price data of ANKR, In 2030 the price of Ankr is predicted to reach at a minimum level of $0.4859. The ANKR price can reach a maximum level of $0.5728 with the average trading price of $0.4994. 

Ankr Price Forecast 2031

The price of Ankr is predicted to reach a minimum value of $0.6917 in 2031. The Ankr price could reach a maximum value of $0.8311 with the average trading price of $0.7116 throughout 2031. 

Ankr (ANKR) Price Prediction 2032

According to our deep technical analysis on past price data of ANKR, In 2032 the price of Ankr is forecasted to be at around a minimum value of $1.01. The Ankr price value can reach a maximum of $1.22 with the average trading value of $1.04. 

Ankr Price Prediction 2033

The price of 1 Ankr is expected to reach a minimum level of $1.54 in 2033. The ANKR price can reach a maximum level of $1.77 with the average price of $1.58 throughout 2033. 

Ankr Price Prediction: By Experts

According to the latest price prediction by Coincodex, Ankr Network’s price is expected to increase by 27.20%, reaching $0.055771 by May 14, 2024. Coincodex’s analysis shows a bearish current sentiment and a Fear & Greed Index of 72, indicating Greed. Ankr Network experienced 13 out of 30 green days and a price volatility of 12.68% in the past 30 days.

Despite the rise, the forecast suggests it is not a favorable time to buy Ankr Network. Historical data and BTC halving cycles point to a potential yearly low for Ankr Network in 2025 at $0.043846, while its price could soar to $0.201771 next year.

According to forecasts from Digital Coin Price, by 2026, ANKR is expected to start the year at $0.14 and may reach around $0.17, marking a significant increase compared to the previous year. This rise is seen as an acceptable progression for ANKR. Further analysis suggests that by the start of 2030, ANKR’s price could climb to $0.33, maintaining this level through the end of the year, with a potential peak at $0.31. The period from 2024 to 2030 is projected to be crucial for ANKR’s growth, indicating substantial developments in its market value.

Is Ankr A Good Investment? When To Buy?

Ankr is emerging as a significant player in the DeFi sector, potentially making it a solid long-term investment. By staking ANKR tokens, participants can earn returns, contributing to its appeal. Over the past year, Ankr has experienced a widespread bullish trend, as it is both affordable and considered to have promising prospects. It’s a viable option for beginners to consider for their portfolios, given positive forecasts about its future. Therefore, experts often recommend Ankr as a worthwhile investment.

How To Use Ankr?

ANKR is a multifunctional utility token used across the ANKR network for various purposes. It can be utilized for staking, participating in governance through voting, and as a form of payment for accessing network services, including dApp and protocol deployment.

Additionally, ANKR rewards those who stake and contribute to the network. While the token is tradable on the cryptocurrency market, its primary function is to facilitate operations within the ANKR ecosystem.

How to Choose an ANKR Wallet?

The ERC-20 ANKR token is compatible with any wallet that supports Ethereum, and your choice of wallet will depend on your intended use and the quantity you need to store.

For the highest security, hardware or cold wallets such as Ledger or Trezor are recommended. These wallets offer offline storage and backup options, making them ideal for securing large amounts of cryptocurrencies. However, they can be more complex to use and are generally more costly, which might make them more suitable for experienced users with substantial holdings.

Software wallets, like Atomic, offer a more accessible alternative. These wallets are free, user-friendly, and available as smartphone or desktop apps, either as custodial or non-custodial. Custodial wallets manage and backup your private keys, whereas non-custodial wallets use secure elements on your device to store them. Although convenient, software wallets are generally less secure than hardware wallets and may be better for smaller amounts of ANKR or for those new to cryptocurrency.

Online or web wallets are also easy to use, accessible through a web browser on various devices, and free. However, they are considered hot wallets and are less secure than their hardware or software counterparts. When using an online wallet, choosing a reputable service with a strong track record in security and custody is crucial, especially if you’re handling smaller amounts of cryptocurrency or trading frequently.

Conclusion

Ankr stands out as a significant project within the DeFi and cloud storage industries, enhancing the staking of ETH 2.0 and ANKR tokens. With a mission to decentralize the internet, Ankr provides straightforward access to Web3 and its myriad functionalities, supporting functional enterprise solutions, developer APIs, and staking nodes.

As a leading initiative in its field, Ankr continues to expand and evolve. This growth is boosting the popularity of ANKR tokens, potentially driving their value higher in the future.