Home Latest Cryptocurrency News The land of the absurd: how did ANC gain 66% and where to buy ANC?

The land of the absurd: how did ANC gain 66% and where to buy ANC?

By Daniela Kirova - min read
23 May 2022

Sometimes things in crypto can be absurd. The Verge wrote in an article published on May 20 that Luna’s popularity was due to Anchor Protocol’s lending program, which promised annual yields of almost 20 percent.

Terra died, and Anchor Protocol’s token ANC is currently up 66% and gaining.

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

What is ANC?

Anchor Protocol is a high-yield lending and borrowing protocol on stablecoin deposits. Lenders can deposit stablecoins and profit from their investments while taking advantage of low volatility at the same time – at least that’s what Anchor claims.

Anchor Protocol has attracted risk-averse investors looking for low-volatility, high-yield investments. It focused on LUNA and Terra’s stablecoin UST.

Anchor Protocol is not the only lending protocol out there; it competes with AAVE, Compound, and more. It claims to stand out through its intuitive use and elegant user interface.

The main value of the protocol is in connecting lenders and borrowers by offering the latter a way to borrow in stablecoin without losing their investments and the former a high interest rate on a purportedly stable asset.

Should I buy ANC today?

ANC can be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.

ANC price prediction

Wallet Investor believes ANC is a bad long-term investment, echoing sentiment on Twitter that Anchor is ‘next’ after Terra’s crashed LUNA. Digital Coin Price is more positive, predicting a slight increase of ANC to $0.33 this year.

As for the following years, they predict: