ANKR increased 56% after Microsoft partnership; Bosch invests $100 million in web3 development program; Coinbase announced its fourth quarter report.
ANKR increased 56% after Microsoft partnership!
Ankr can be briefly described as a decentralized cloud computing platform that allows users to rent computing power and storage space to host applications, websites and other digital assets. ANKR, on the other hand, is the native cryptocurrency of its network. The ANKR token is used to incentivize users to contribute computing resources to the network and pay for services and resources provided by the network.
Microsoft, which has recently partnered with Ankr to develop blockchain technologies, caused the company’s native token, ANKR, to make a rapid leap with this effect.
So much so that ANKR, which was priced at $ 0.033 before the partnership, quickly climbed up to $ 0.052 with the announcement of the partnership. While this almost 90-degree rise made investors smile, the correction was experienced quite reasonably and the price was fixed in the 0.050 band.
Finally, the company, which announced its partnership with Ankr, enabled the project’s native token to rise rapidly. However, the market value of the token also increased by 35 percent, reaching $437 million.
Bosch invests $100 million in web3 development program
World-renowned technology company Bosch has invested $100 million in a web3, AI and IoT grant program. In the partnership between Bosch and Fetch.ai, $100 million was allocated for the grant program that funds the development of web3, artificial intelligence (AI) and decentralized technologies.
The two companies came together to form the Fetch.ai Foundation, whose mission is the industrial adoption of innovative software AI and web3 technologies. The initiative will fund further research and develop decentralized technologies for real-world use cases.
The program plans to provide a $100 million grant to fund long-term development of web3-based solutions and services for the industrial technology and consumer industries.
Peter Busch, head of the Fetch.ai Foundation, said that Bosch is interested in leveraging emerging technologies:
“As one of the world leaders in industrial engineering and mobility solutions, Bosch sees the greater need for smart technologies and governance to meet the challenges posed by more than ever connected ecosystems in terms of security, privacy and data ownership.”
Coinbase announced its fourth quarter report
Coinbase, the largest cryptocurrency exchange in the USA, announced its fourth quarter report. The crypto exchange reported less of a drop than analysts had predicted. Analysts expected an average loss of $600 million to be announced, with a net loss of $557 million.
Analysts expected revenue of $581 million for the fourth quarter, while the stock market outperformed estimates here, reporting revenue of $629.1 million. According to Bloomberg, Coinbase made the following statements in the letter it sent to its investors:
“We expect 2023 to be a regulation driven year and we believe our strong foundation will profit us from this new environment”
The company has experienced an increase in trading volume in recent weeks. However, the stock market faced uncertainty, including the entire crypto market. In particular, the termination of Kraken’s staking program and the penalty of the exchange may be an indication that Coinbase may face similar troubles.
While Coinbase had increased its market share to 5.9% following the collapse of FTX, it lost it in other months and fell to 4.1%. The world’s largest crypto exchange Binance, on the other hand, is the clear leader in the market with 60%. Coinbase had to lay off many of its staff in 2022.