Anchor Protocol is a lending and borrowing protocol that offers up to a 19.5% yield on stablecoin deposits. Lenders can deposit their UST and earn attractive interest rates while also benefiting from low volatility.
Anchor Protocol (ANC) is the 29th project on Binance Launchpool and a Terra blockchain lending/borrowing protocol. ANC uses an over-collateralized architecture, allowing users to lend, borrow, and earn interest on their digital assets. Anchor is a Terra blockchain savings protocol that allows for instant withdrawals and pays depositors a low-volatility interest rate of 19.5 percent, one of the highest among stablecoins. Borrowers who provide security in the form of liquid-staked PoS assets, bLUNA, and bETH can access Anchor deposits. Let us review the ANC price
ANC Price Prediction
Bullish Scenario: ANC broke the bearish downtrend line on the lower time frame like 30 minutes(30M) and is trading above the support zone of $1.97. If it stays above this zone and the resistance level at $2.28 is broken then we could start seeing a move towards $2.44, $2.89 and above.
Bearish Scenario: ANC has been under correction since the last few weeks so we can’t ignore the bearish scenarios altogether. So failure to hold the support at $1.97 and breaking below $1.80 could lead to a drop towards $1.63 and below.
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