Anker’s price swung slightly upwards after developers launched App Chains, a platform for Web3 development. The coin is trading at $0.03, which is slightly above this week’s low of $0.022. Its market cap is over $243 million.
app chain launch
Anker is a leading blockchain infrastructure project that makes it easy for Web3 developers to build applications.
The network offers a product known as Remote Procedure Call (RPC), which is a useful tool among developers. It simply helps them to communicate with the back-end while building.
Over the past few months, the number of developers using Anker’s RPC has grown exponentially. Some of the most popular developers currently using Anker include Airbitrum, Optimism, Avalanche, Binance, and Celo.
In a statement this week, Anker said it is launching App Chain, a dedicated blockchain with a dedicated dApp. It can be thought of as a single-tenant bare-metal server without noisy servers. This feature will make the platform quite scalable.
Apart from scalability, app chain is a highly flexible process. For one, they will not be limited to using specific programming languages and constraints of a specific virtual machine like EVMs. As a result, it will help reduce the technical barriers to joining Web3.
Ankar has been a relatively busy month. Earlier this month, developers announced that they were changing the revenue model for their RPC services to pay-as-you-go. He also launched into a rapidly growing blockchain project, Opimism. In a statement, the CEO of Optimism Told,
“Adding Ankr as an infrastructure provider has helped fulfill the desires of our community members who want to build with robust and reliable services.”
Nevertheless, Anker’s price has not been in line with the performance of other cryptocurrencies such as Cardano, BNB and VeChain. This price action is mostly due to changing market and monetary conditions. Furthermore, recent corporate actions at Three Arrows, Celsius and Bancor have turned many people away from crypto.
Anker Price Prediction
The daily chart shows that the point price is Has been in bearish trend for months. It traded below the crucial $0.0500 resistance level, which was the lowest in February. The coin remains below the 25-day and 50-day moving averages while the relative strength index (RSI) has moved above the oversold levels.
Therefore, the path of least resistance for Anker Token remains low. If it does, the next major support level to watch would be $0.023, which was the YTD low.