Ankr Partners with Microsoft and Polygon Lays off 20% of Staff

Name: FS Insight
Price range: $$$

Feb 21, 2023

ANKR 2.98% BTC 0.72% ETH 1.59% LDO 5.14% MATIC 4.97% SOL 0.67%

Market Update Markets cooled off today after a long holiday weekend. $BTC and $ETH are down 0.61% and 1.68% and SPX and NDQ have dropped 1.17% and 1.32%. Most altcoins have held up weaker than bitcoin and ethereum on this pullback, $MATIC is down 5.73%, $LDO is down 5.26%, and $SOL is down 4.00%. An exception to this is $ANKR, which has risen 43.6% today after an announcement of a Microsoft partnership which we discuss in more detail below. Despite select altcoins outperforming bitcoin during the rally the past few months, altcoins as a whole have actually lagged behind. This broader altcoin underperformance to bitcoin is represented in the bitcoin dominance ratio, which has risen 0.35% today and is up 11% since December. Tech giant, Microsoft, has partnered with Ankr ($ANKR) to offer a blockchain node service for enterprise clients. The two firms will work together on a node hosting service in Microsoft Azure cloud marketplace that includes tailored memory and bandwidth specifications for blockchain nodes. Rashmi Misra, Microsoft general manager of emerging technologies, stated, "Our partnership with Ankr will enable developers and organizations to access blockchain data in a reliable and secure way as they explore how web3 can address real-world business challenges. Togethe

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