The blockchain ecosystem was recently sent into a frenzy when decentralized blockchain infrastructure provider Ankr (ANKR) announced its partnership with American tech giant Microsoft. The news saw the token’s price surge by 60%, and over the past 24 hours, it has seen a further 43.51% growth to $0.0471.
Prior to the partnership, Ankr had been experiencing sideways movement, so the potential of the update was a major boost for investors. The weekly chart below shows the positive impact the partnership has had on the asset’s price.
The Microsoft partnership is a huge vote of confidence for Ankr, which has been making considerable progress as an infrastructure service provider in the emerging Web 3.0 ecosystem. The partnership will likely lead to periodic price upsurges due to the positive sentiment it brings, and it should open up the Ankr protocol to more high-profile partnerships in the future.
Ankr has been working hard to change its narrative since it was hacked last year, when around $5 million was taken from the BNB Liquidity Pool. Since then, the protocol has released a multichain explorer, Chainscanner, and the Microsoft partnership is its most ambitious to date. This has seen its valuation rise to $467.8 million, with weekly growth of 68%.
Overall, the Microsoft partnership has been a major boost for Ankr, and it has been reflected in the token’s price. The partnership has the potential to open up more opportunities for the protocol in the future, and it could help to change the narrative about it following last year’s hack. The long-term growth of the Ankr ecosystem should be bolstered as a result of the partnership, and investors should be able to benefit from the positive sentiment it brings.