Ankr’s Token Surges 73% Following Microsoft and Tencent Partnerships
- Ankr (ANKR), a decentralized finance protocol, saw its native token surge 73% following partnerships with Microsoft and Tencent.
- The agreement with Microsoft will offer support to enterprises looking to use blockchain technology.
- Tencent has also signed an MoU with Ankr to develop a full suite of blockchain API services.
Ankr is a liquid staking token that has recently seen a surge in trading activity. Liquid staking tokens are derivatives that remain untouched by regulation, allowing investors to earn yields on their crypto holdings. The total value locked (TVL) in the Ankr protocol is $163 million according to DeFiLlama. In addition, the ANKR token’s daily trade volume across all exchanges has exceeded $1.5 billion over the last 24 hours according to CoinDesk data.
On Tuesday, Ankr announced a partnership with technology giant Microsoft. Under this agreement, the two companies will provide support for enterprises looking to use blockchain technology. This announcement sent price surging from 3 cents up nearly 6 cents per token.