ANKR Is 65% Below Its March Peak: Should You Buy the Dip?

After a selloff amid China’s expanding crackdown, cryptocurrencies have started rebounding. ANKR is among those making a strong comeback. The altcoin has climbed 30 percent in the last 24 hours. But at $0.077 currently, Ankr is still below its all-time high attained in Mar. 2021. What’s ANKR'S price prediction, and when could it reach $10?

ANKR is the official token of a DeFi project by the same name. The Ankr project is focused on providing cloud computing services to blockchain app developers to make cloud services cheap and easy, spurring blockchain product developments. Customers pay for the services with ANKR. Therefore, the more developers come to the platform, the more valuable the token becomes.

The altcoin’s circulating supply is 7 billion tokens, and its maximum supply is capped at 10 billion tokens. At the current token price of about $0.077, ANKR carries a market value of $540 million.

According to Digital Coin Price predictions, ANKR will close 2021 at $0.12, implying a 60 percent upside from its current price. The crypto is forecast to continue rising in the coming years, hitting $0.19 in 2023 and $0.26 in 2025 (which suggests 240 percent growth). WalletInvestor predicts ANKR will grow 210 percent to reach $0.24 a year from now, and 1,100 percent to reach $0.94 in five years.

Many ANKR holders hope to become millionaires when the crypto reaches $10. At the current price, ANKR will need to rise 12,000 percent to hit that milestone. Predictions suggest there's little chance of the token hitting $10 in five years, though it has been climbing at an average monthly rate of 80 percent over the past year. If it maintains that momentum, it could reach $10 as early as 2022.

Cryptocurrencies are usually volatile, and ANKR is no exception. But ANKR investors have a good reason to be happy. Even after the crypto crash, which saw Bitcoin fall below $30,000, ANKR has still returned about 800 percent in 2021. For perspective, the S&P 500 has only gained 13 percent.

ANKR is currently 65 percent below its all-time high of $0.225 from Mar. 2021. Buying the dip in ANKR has proven lucrative—in Mar. 2020, the altcoin plunged to what still stands as its all-time low of $0.00071. Many investors took off but some stayed put and accumulated in the dip. Even with ANKR’s latest crash, those investors are sitting on returns of more than 10,000 percent—an investment of $1,000 in the altcoin at that time would have given them a $100,000 profit.

There's no guarantee ANKR will deliver such blockbuster returns in the future, but there is a chance. The demand for cloud computing services is only going to increase as developers seek cost-effective ways to build blockchain apps. ANKR has styled itself as an important computing resource provider to the blockchain community.

ANKR boasts abroad exchange support, making the crypto both easily accessible and highly liquid. You can buy ANKR on all the major exchanges, from Coinbase to Binance and Huobi. The altcoin is also available on Gate, Gemini, HitBTC, and Bidesk.

If you're paying with the U.S. dollar, euro, or British pound, the best exchanges to buy ANKR are HitBTC, Coinbase, and Gemini. The other exchanges allow you to convert cryptocurrencies such as Bitcoin and Ethereum to ANKR.