Home Latest Cryptocurrency News Anchor Protocol shed almost a tenth of its value: is it time to buy the ANC dip?

Anchor Protocol shed almost a tenth of its value: is it time to buy the ANC dip?

By Daniela Kirova - min read
08 April 2022

After an extended rally ANC, the 93rd biggest coin by market cap, is starting to reverse gains. It had lost almost 10% at the time of writing.

If you want to know what ANC is, can it give you good returns, and the top places to buy ANC, you’ve come to the right place.

Top places to buy ANC now

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.

Buy ANC with KuCoin today

What is ANC?

Anchor Protocol is a lending and borrowing protocol on Terra, which offers a high yield on stablecoin deposits. The surge in stablecoins’ popularity led to a corresponding surge of the ANC token price. These gains are now starting to recede.

On Anchor, borrowers can turn LUNA collateral into productive assets without relinquishing control. Lenders can deposit their UST and earn attractive rates on their investments while benefiting from low volatility at the same time.

Anchor Protocol has attracted risk-averse investors looking for stable and high-yield investments, increasing demand for Terra’s stablecoin UST. This promotes the adoption of UST and subsequently the adoption of the whole Terra ecosystem in DeFi.

Should I buy ANC today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money.

ANC price prediction

According to Coin Quora, the bullish ANC price prediction ranges from $2.89 to $5. They are positive on its trajectory, predicting it could reach $10 soon. The bearish ANC price prediction is $1.32 for 2022. It’s currently around $3.