Decentralized Finance (DeFi) protocol Ankr recently announced a series of partnerships with mainstream tech firms which sent its native token ANKR soaring.
According to a press release by the Ankr team, the DeFi protocol has joined hands with tech giant Microsoft to provide infrastructure solutions that connect developers, applications, and users with Web3. The partnership will see the launch of enterprise-grade blockchain nodes with custom specifications depending on unique use cases. The service will soon be available through Microsoft Azure.
Many developers and organizations are exploring how Web3 can help solve real-world business challenges, and our partnership with Ankr will enable them to access blockchain data in a reliable, scalable, and secure way. Together with Ankr, we are building a strong Web3 infrastructure layer whether you’re a developer building the next big decentralized application (dApp) or an established enterprise exploring Web3.”
Rashmi Misra, Microsoft General Manager AI & Emerging Technologies.
News of the venture with Microsoft was followed by an announcement by Chinese tech giant Tencent, which revealed the signing of a Memorandum of Understanding (MoU) with Ankr. This partnership will involve the development of a full suite of blockchain API services, which will be deployed on Tencent Cloud’s infrastructure to provide efficient connections between popular blockchains and Web3 games and applications.
According to data from CoinMarketCap, the recent announcements led to a 51% increase in ANKR’s price. The liquid staking token is currently trading at $0.050. The token’s daily trading volume has skyrocketed more than 1200% to reach a whopping $936 million, up from a mere $71 million before the announcement of the partnerships. The trading volume peaked at $1.57 billion, before returning to the current level.
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