Web3 Token Surges 40% On Microsoft Node-Hosting Deal

Ankr's utility token ANKR (CRYPTO: ANKR) has shot up more than 40% after the San Francisco-based blockchain infrastructure startup announced a partnership with Microsoft (NASDAQ: MSFT).

What Happened: According to Ankr, the enterprise node deployment service, provides fast and reliable blockchain connections for Web3 projects so that developers can focus on scaling their applications. 

The price of Ankr skyrocketed to $0.047 after the company unveiled its partnership with the tech giant.

Ankr @Microsoft

We’ve partnered with Microsoft to support enterprises and organizations needing access to blockchain data with a reliable, easy-to-use node hosting service

Read more https://t.co/XF8CG1grg5 pic.twitter.com/8tv5Mfz7FH

— Ankr (@ankr) February 21, 2023

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

A node is a powerful computing device that plays a crucial role in confirming and processing digital transactions on blockchain networks.

Earlier in November 2022, Ankr received a strategic investment from a division of Binance Labs. 

Read Next: Bitcoin, Ethereum, Dogecoin Slide Amid Rate-Hike Anxiety: Analyst Says 'Avoid Emotions, Trade Prices'