The Ankr token has gained a whopping 43% in the past week. Among the top ten cryptocurrencies by market cap, ANKR has recorded the second highest increase in the last seven days. Only the Celsius token has seen a larger increase in value.
The ANKR token, which has a maximum supply of 10 billion tokens, is valued at $0.048 currently. The recent surge of the token was triggered by the launch of the staking feature for the protocol. ANKR holders will now enjoy more benefits from holding the token.
Staking was introduced to the protocol because the network requires ANKR deposits to back node providers. The network relies on efficient node providers to send RPC requests to blockchain protocols supported by the network.
Further, staking will allow ANKR holders to participate in electing reputable service providers for the network. Currently, staking pools have a size cap. But as the network expands, staking pools and rewards may eventually have a maximum cap.
Stakers will now be able to stake their tokens to full nodes, enabling them to serve the development layer rather than the validation layer.
Additionally, staking the ANKR token will boost web3 integration and adoption. Stakers become a part of a network that improves blockchain throughput for developers. Very importantly, stakers will also have the opportunity to earn while serving web3 developers that rely on them for blockchain access.
Like many other protocols, stakers have access to the governing system. ANKR stakers will be able to have a say in critical decisions that will affect the protocol’s future.
The Ankr Protocol also has plans to release more infrastructure in its ecosystem. Ankr has the ultimate goal of evolving with web3 and filling the needs of web3 users in the ecosystem.
