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Anchor Protocol Price Prediction: TVL has fallen to $20 billion

 


Anchor Protocol's price is still under pressure even after its market activity has performed relatively well. The ANC token is trading at $1.7100, which is slightly above the monthly low of $1.5855. It remains about 72% below its highest level this year, bringing its total market cap to over $587 million.


Anchor TVL is rising again

Anchor Protocol is a leading blockchain project based in the Decentralized Finance (DeFi) industry. It is a lending and savings platform known for offering exciting rewards to its users.


According to its website, Anchor has a total value (TVL) of over $19.9 billion. Of these, total deposits are more than $14 billion and total collateral is more than $5.9 billion. The coin has a total revenue reserve of over 198 million UST.


The Anchor Protocol's performance has lagged in recent months as investors reacted to the introduction of the semi-dynamic rate of return. This simply means that the earn rate is adjusted to the coin on the first day of every month


The built-in system updates the APY by + or minus 1.5%, with a cap of 20%. This system is dependent on the yield reserve. For example, if the yield reserve increases by 1.5%, the yield rate will also increase by 1.5%.


On the other hand, if the reserve increases by 3%, the rate of return also increases by 1.5%. On Sunday, the official Twitter account announced that the APY for the month's minutes is around 18%.


Anchor Protocol also falls as investors react to the latest Prop 25, which increased the Oracle timeout from 60 to 90 seconds.

Anchor Protocol's price has been in a strong bearish trend for the past few months as concerns about yields linger. The coin moved slightly below the upper side of the descending channel. It has also moved slightly below the 25-day and 50-day moving averages, while the stochastic oscillator has moved slightly below the overbought level.


Therefore, the ANC token is likely to continue the downtrend as the bears target the lower side of the descending channel at $1.45. A move above the $1.8 resistance level will invalidate the bearish view.

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