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ANKR Spikes 60% on Microsoft Partnership Announcement, Here's What's Next

Tue, 02/21/2023 - 16:30
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Gamza Khanzadaev
Microsoft and Ankr partner to offer enterprise Web3 services, ANKR soars 60%
ANKR Spikes 60% on Microsoft Partnership Announcement, Here's What's Next
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ANKR became today's most profitable major cryptocurrency after its price rose by more than 60% at one point. The reason for such impressive price action was the announcement of a partnership between Ankr and technology giant Microsoft (MSFT) to provide enterprise node services.

ANKR to USD by CoinMarketCap

As part of the collaboration, the companies plan to launch a service that will give corporations and organizations wishing to access the benefits of blockchain an easy and reliable way to host their nodes. Using Microsoft's cloud capabilities and Ankr's innovations in blockchain infrastructure, the plan is to offer an enterprise node deployment service of global, low latency blockchain connections for any Web3 project. What's most interesting is that the service will then appear on Microsoft's marketplace, Azure, making it available to millions of customers.

ANKR, liquid staking and Ethereum Shanghai update

By the size of the pump that this news produced on the quotations of ANKR, it can be compared with the August news about Binance Labs investment in the project. At that time, the investment arm of the black-and-yellow crypto giant invested in Ankr in order to stimulate cross-chain staking innovations.

Liquid Staking Derivatives Flow as Ethereum Community Eyes Shanghai

This also opens another potential trigger for ANKR, which can hold much of today's momentum. We are talking about the March update Shanghai for Ethereum, which, according to the emerging narrative, should favorably affect the quotations of liquid staking operators, including ANKR.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.