Anchor Protocol Price Prediction – Will ANC Price Hit $10 Soon?

This Anchor Protocol (ANC) price prediction 2022 article is based on technical analysis. Below, you will see the key confluences why we arrived at our Anchor Protocol (ANC) price analysis and prediction.

The cryptocurrency market is growing steadily and gaining momentum with the total market capitalization of all cryptocurrencies tending towards $1.646 trillion according to CoinMarketCap. The ANC price has increased by over 53% in the past 30 days, which is equivalent to $1.53 for each $1 investment.

In this Anchor Protocol (ANC) price prediction and price analysis, we take a look at the performance of ANC and if it will reach $10 by the end of 2022. But before that, let us look at is Anchor Protocol (ANC)?

What is Anchor Protocol (ANC)?

Anchor Protocol (ANC) is a lending and borrowing protocol on the Terra blockchain and the 29th project on Binance Launchpool. It uses an over-collateralized architecture to allow users to lend, borrow and earn interest with their digital assets.

Anchor is a savings protocol on the Terra blockchain that enables fast withdrawals and pays depositors a low-volatility interest rate, which is amongst the highest among stablecoins at ~19.5%. Anchor makes deposits available to borrowers who pledge liquid-staked PoS assets, bLUNA and bETH, as security.

How Does Anchor Protocol (ANC) Work?

Three main mechanisms run the Anchor Protocol (ANC). bAsset, money market, and loan liquidation.

The bAsset (bonded asset), a tokenized stake on a PoS blockchain is one of Anchor’s key primitives. A bAsset token symbolizes ownership of a staked Proof-of-Stake (PoS) asset.

A bAsset, like the underlying staked asset, gives block rewards to the holder. A bAsset, unlike a staked asset, is both transportable and fungible. As a result, users may transact with bAssets in the same way they do with the underlying PoS asset. In conclusion, a bAsset lets its owner collect block rewards while retaining the liquidity and fungibility that staked assets lack.

bAssets can be produced on any PoS blockchain that supports smart contracts, making them widely applicable. bAssets are a vital component of Anchor, and they hold great importance in providing a constant interest rate to Terra deposits.

Current Market Status for Anchor Protocol (ANC)

At the time of writing, the price of Anchor Protocol (ANC) is $2.45 with a 24-hour trading volume of $62,656,433 and an increase in the price of 7%.

The present circulating supply of ANC is 255,429,516.96ANC. Some of the major exchanges for ANC are Binance, Coinone, Kucoin, Gate.io, LBank, Mexc, and others.

Now that we have seen the present status of ANC in the market, let’s look at the Anchor Protocol (ANC) price prediction and price analysis.

Anchor Protocol (ANC) Price Analysis

Anchor Protocol (ANC) is in the 96^th position in market capitalization of cryptocurrencies according to CoinMarketCap. It has increased by 54.2% in the past 14 days.

But will the recent changes and development in the blockchain help the digital currency price to reach higher? Let’s proceed to the charts in this ANC price prediction article.

From the round bottom breakout moving average chart above for Anchor Protocol (ANC) above, we can see that the price of ANC has not reached the black line, which is an area of resistance. Hence, we should expect the price of ANC to surge above the $3 mark.

The relative strength index (RSI) value of ANC/USDT from the chart above is 61.44, which means that the present bullish run is strong since it is between 50 and 70.

The 90-MA is above the 30-MA for the ANC/USDT 1day chart above which means that the price of Anchor Protocol (ANC) is bullish in the long-term.

Anchor Protocol (ANC) Price Prediction

The chart below shows that ANC has performed great over the past few days. If this trend continues, Anchor Protocol might run along with the bulls, overtaking its $2.8909 resistance1 level and climb higher to $4.5080, the 2022 bullish signal.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ANC from its uptrend position. In simpler terms, the price of ANC might plummet to almost $1.3224, a bearish signal.

Meanwhile, our long-term ANC price prediction 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $8.31 according to CoinMarketCap this year. However, that will only happen if it breaks many previous psychological resistances.

Anchor Protocol (ANC) Price Prediction 2022

If this bullish trend continues, ANC will reach $5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $4.5080. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $10 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Anchor Protocol (ANC) Price Prediction 2023

The price of ANC can move even great heights, however reaching $20 Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency ANC breaks past psychological resistance level.

Anchor Protocol (ANC) Price Prediction 2024

The price of ANC can move even great heights, however reaching $30 Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency ANC breaks past psychological resistance level.

Anchor Protocol (ANC) Price Prediction 2025

In the next four years, ANC prices could race up to $50. However, reaching this level could not be so difficult for ANC as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ANC has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Anchor Protocol (ANC) Price Prediction 2026

As per the latest upgrades, developments, ANC price prediction, and new project forecasts of the platform. Moreover, this might boost the price of ANC in the crypto market, and it will be the best investment as the price can spike and reach around $100.

Conclusion

Anchor Protocol (ANC) has a bright future ahead of it from 2022 to 2026. With ongoing developments happening within the ANC ecosystem, as well as in the overall crypto market, we may see ANC reach new heights.

Meanwhile, our long-term ANC price prediction 2022 is bullish. In addition, it has a high possibility of surpassing over $5 and may reach above $10 this year. However, that will only happen if it breaks past many psychological resistances.

As said above, ANC may even reach $10 if investors have decided that ANC is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.