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    Home»Altcoins»Anchor Protocol Governance Token has risen 380% in the past month
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    Altcoins

    Anchor Protocol Governance Token has risen 380% in the past month

    AdministratorBy Administrator04.03.2022No Comments2 Mins Read
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    bt-crow.com

    04 March 2022 07:53, UTC

    Reading time: ~2 m


    The growth of the ANC token, the service cryptocurrency of the Anchor protocol, reached the levels of May last year. At the end of December 2021, the value of the digital currency collapsed three times after a liquidity problem arose due to the rules of the ecosystem.

    The Anchor Protocol guarantees investors who have invested in the UST stablecoin issued on the Terra blockchain a 20% annual return, which “accumulates” thanks to the platform’s profit from issuing loans.

    The protracted fall in the cryptocurrency market from November 2021 to January led to a strong decrease in demand for loans and developers had to pay the stakers earned UST from the reserve fund. Investors panicked the ANC as Anchor’s liquidity pool dwindled.

    In February, the situation was saved by venture capitalists and the founders of the Terra platform. They funneled $1 billion UST into an insurance fund. As a result, traders considered ANC to be a highly undervalued asset at the time of the cryptocurrency market turning to growth.
    15
    The figure above shows that the service cryptocurrency of the Anchor platform is similar to the Maker DAO asset, which fluctuates in a relatively stable sideways trend, opening up opportunities for speculative arbitrage and hedging at the time of the market fall, except for the situation of liquidity problems.

    Perhaps the ANC will no longer tolerate a drawdown, like the February sinking, due to Terra’s clearly shown intentions to support Anchor in a difficult situation. Now the protocol occupies almost 50% of dominance, and in terms of attracted TVL, it will soon overtake BNB-Chain, the Binance ecosystem, and take second place among Ethereum competitors.
    16




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    Anchor governance month protocol risen token
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