One of the more intriguing crypto projects that’s garnering investor attention of late is Anchor (ANC-USD). Today, investors are looking for expert Anchor Protocol price predictions, as this token rockets higher on an otherwise red day in the crypto world.
Much of this rally is reportedly coming from Anchor’s stablecoin exposure. As a decentralized money market based on the Terra (LUNA-USD) blockchain, Anchor has benefited from interest around Terra’s stablecoin, UST (UST-USD). Investors may note that Terra’s impressive move of more than 45% over the past week has driven a significant amount of interest. Anchor appears to be a latch-on trade to this rally.
What Anchor does is provide a mechanism for those holding UST to earn a very high annual percentage yield (APY). With an APY of 20% right now, many investors are simply looking to hold UST and earn the difference. For a stablecoin, one which is supposed to hold its peg at $1 per token over the long term, this can seem like free money.
There’s no such thing as free money, and personally, I want to dive into how these APYs are possible. But for now, this project is one that’s generating a lot of attention.
Let’s dive into what the experts think of Anchor.
Anchor Protocol Price Predictions
For reference, ANC currently trades at $4.60 per token, at the time of writing.
- PricePrediction forecasts ANC could be worth $6.77 in 2022, $10.23 in 2023 and $21.19 in 2025.
- InvestingCube suggests the $5 level is the next level to watch out for in the near-term.
- DigitalCoinPrice has average price targets of $5.84 in 2022, $6.78 in 2023 and $8.83 in 2025.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.