Ankr increased by 137% after becoming the top validator on the Binance Smart Chain

It’s hard to argue that the crypto market is not a bull market right now, but this race shows different characteristics and catalysts from the 2017 bull market.

In 2017, investors were blown away by the lure of high returns from highly promising initial coin offerings (ICOs) but very little distribution in the form of a truly working ‘product’. moving.

Fast-forward to 2020 and the current altcoin season is mostly focused on lending, liquidity and productivity farming. The growing interest in Decentralized Finance (DeFi) is triggered by four-digit APYs earned from collateral, in addition to decentralized access to legacy assets through token synthesis. Furthermore, pure speculation about buying and staking unavailable tokens is pushing total crypto market cap to new highs.

Some blockchains offer proxy wagering, and while node staking and validation deliver lucrative rewards to miners, the implementation of a node is not something the average user might feel for. find it difficult. Even for more experienced users, setting up developer buttons can take a long time.

The Ankr protocol allows easy access to many blockchains, including Ethereum, Polkadot, and Binance Smart Chain. By providing a cloud solution, users can deploy bet and developer nodes in minutes instead of buying, setting up, and then maintaining expensive setups themselves.

In February, ANKR had a market cap of $ 170 million and is trading in a relatively flat range. However, the most recent 137% rally started as the project became the Binance Smart Chain validator.

ANKR token price at Binance. Source: TradingView

When the token hit an all-time high of $ 0.06 on March 12, its market cap surpassed $ 400 million.

Ankr’s one click solution also provides nodes for Eth2, Avalanche, Bitcoin, Celo, Cosmos, Decred, Matic, Qtum, Tezos, and many other blockchain networks. Furthermore, Ankr will process Eth2 bet with at least 0.5 Ether and the project provides instant liquidity by issuing a consolidated asset called aETH.

ANKR is the native governance token of the Ankr Staking platform, and it also serves as a payment method for services, such as node deployment and application usage.