Ankr Network Price

What Is Ankr (ANKR)?

Ankr (ANKR) is a multi-chain app offering several decentralized infrastructure and staking services to businesses and individuals. The Ankr app provides three major products: Blockchain node setup, liquid staking and enterprise node infrastructure-as-a-service (IaaS). Additionally, Ankr’s product suite includes a software development kit (SDK) for game developers and development frameworks for other distributed applications.

The Ankr network was launched in 2019 on the Ethereum (ETH) blockchain and, over time, expanded its staking services to several proof of stake (PoS) platforms. Its ecosystem now includes Ethereum 2.0, BNB Chain (BNB), Avalanche (AVAX), Polkadot (DOT), Fantom (FTM) and Kusama (KSM).

Ankr’s native cryptocurrency, ANKR, is an ERC20 and BEP20 token that powers most of the operations on the platform.

What Is ANKR Used For?

The ANKR token has a wide-ranging set of functions in the Ankr ecosystem. It’s used for staking, delegation of staking, governance and transaction-fee payments for accessing the protocol’s infrastructure services.

Platform users who operate validator nodes on PoS blockchains, via Ankr, can stake the token. Nodes can use ANKR, or other cryptocurrencies, to earn staking rewards. Users who prefer not to set up full validator nodes may also earn staking rewards on ANKR by delegating their funds to the full nodes. The delegation mode allows you to participate in staking with minimal technical and financial commitments.

Holders of ANKR can participate in the platform’s governance by voting on proposals related to Ankr’s staking products or terms.

ANKR Price and Tokenomics

ANKR has a maximum and total supply of 10 billion tokens. Around 8.2 billion ANKR tokens represent the token’s circulating supply (as of September 2022). ANKR was first listed on crypto data aggregation portals in March 2019, trading at $0.013. By April 2019, the ANKR price declined further and mostly stayed at the subcent level until January 2021.

Between January and April 2021, ANKR rose sharply, reaching its all-time-high of $0.21 on April 16, 2021. It then dipped to around $0.05–$0.06 by July 2021, before having another sharp rise to almost 20 cents by November 2021.

As with other cryptocurrencies, ANKR was severely affected by the market-wide crypto crash that started in November 2021. Since then, the token has largely trended downward, with occasional spikes and stability periods along the way.

Who Is the Founder of Ankr? 

Ankr was co-founded in San Francisco in 2017 by three young entrepreneurs — Chandler Song, Ryan Fang and Stanley Wu. Song, the CEO of Ankr, worked as a software engineer for Amazon before teaming up with Fang and Wu.

Fang was employed at several prominent investment banking organizations, including Credit Suisse and Morgan Stanley. He also co-founded another technology start-up, PrimeBlock.

Wu, Ankr’s CTO, spent many years at Amazon as a senior software engineer and technology lead.

Ankr raised a total of $27.3 million in venture capital over five rounds from 13 investors. Some well-known firms from the project’s investor list include Pantera Capital and Binance Labs.

How Does Ankr Work?

As previously stated, Ankr’s three principal services are validator node setup on PoS networks, liquid staking and blockchain infrastructure setup for enterprises.

You can take advantage of Ankr’s services and set up full validator nodes on different blockchains. As a validator, you can earn staking rewards in ANKR or in the native coins of the chains. Setting up a full validator node directly on a PoS network is a complicated task, with intricate technical requirements and hefty minimum investment thresholds. Ankr aims to reduce the technical complexity and let you participate in staking with considerably lower investment requirements.

Ankr’s liquid staking service gives you instant liquidity, so you can optimize your staked tokens to compound your earnings in other DeFi protocols. Moreover, under the liquid staking model, you don't need to set up a full validator node. Ankr’s liquid staking service lets you delegate your stake to validators and earn rewards.

Ankr is also a leading decentralized blockchain infrastructure provider. The blockchain infrastructure for enterprise services helps businesses easily set up flexible blockchain nodes, without having to go through the complex and costly process of developing their own blockchain presence. By providing this node infrastructure service, Ankr creates opportunities for a variety of businesses to more actively participate in the crypto economy.

Read more: Ankr Crypto: Facilitating the Web3 Economy

How to Store ANKR

When choosing a wallet to store ANKR, take into account the availability of support for ANKR staking, which is the coin’s key function. The following software wallets have ANKR storage and staking support: MetaMask, WalletConnect, imToken, MathWallet, Trust Wallet and Huobi Wallet. If you prefer a cold wallet, the Ledger Nano S model can fully support the token.

Where to Buy ANKR

You can buy ANKR from any top crypto exchange, including Bybit. On Bybit, you can trade ANKR/USDT on the Spot market, and on a perpetual ANKRUSDT contract.