Are Ankr Protocol’s long-term holders back to take their cut in the market

ambcrypto.com:

Holders of Ankr Protocol [ANKR] might have regained the confidence of active participation in the crypto as some of the token’s dormant addresses reactivated their wallets.

According to Lookonchain, a two-year dormancy whale address who bought the token in 2019 and 2020 transferred back to the exchange. 

The whale’s $ANKR was received from #Binance in July 2019 and September 2020, when the price was $0.0065.https://t.co/lqd1VDyOk0 pic.twitter.com/EG3jl7dXsx

— Lookonchain (@lookonchain) February 27, 2023

Read Ankr Protocol’s [ANKR] Price Prediction 2023-2024

Details from the transaction showed that the whale’s long-term hold yielded gains. 

An evaluation of on-chain data showed that more dormant addresses also followed the same path. According to Santiment, the 180-day dormant circulation was 86.04 million. These reactivations have come on the back of Ankr Protocol’s collaboration with Microsoft on 21 February.

The outcome of the ANKR surge last week still seemed to be obvious in the portfolio for the token holders.

This was because the Market Value to Realized Value (MVRV) ratio increased to -4.592%. Surely, the 31.16% price uptick in the last seven days and the 11.46% volume rise in the last 24 hours contributed to the rise.

The metric compares the realized and market capitalization while revealing unrealized profit and loss and an asset’s possible valuation.

Nonetheless, it was likely that ANKR was still undervalued since the ratio remained negative.

Source: Santiment

During the period that the project announced its Microsoft and zkSync partnership, investors’ optimism was