Binance CEO Changpeng Zhao Tweets, The Price Of This Altcoin Has Jumped!

There seems to be some confusion due to a recent tweet by Binance CEO Changpeng Zhao.

Anchor Protocol (ANC) Altcoin Price Rises When Binance CEO Mentions ANC, Actually a Pharmacy Chain, in His Tweet

Zhao tweeted via Binance Pay of ANC, a Ukrainian pharmacy chain with more than 1,000 stores. cryptocurrency He talked about making his payments. However, some people actually use this ANC. Terra (Luna) pertaining to Anchor Protocol (ANC) It appears to be confusing it with a cryptocurrency called

As a result, there was a sudden increase in the price of Anchor Protocol (ANC). It’s not unusual for cryptocurrencies to see price movements based on news and announcements, and that’s apparently the case with the anchor Protocol (ANC).

It should be noted that the two ANCs are not related and the price increase of Anchor Protocol (ANC) is probably not directly linked to the adoption of crypto payments by the Ukrainian pharmacy chain.

ANC is the biggest pharmacy chain with 1000+ stores. Adoption

Ukrainian pharmacies enable crypto payments via #Binance Share https://t.co/vcrqkHv9YP

— CZ 🔶 Binance (@cz_binance) January 3, 2023

It is exciting to see cryptocurrencies being adopted by mainstream businesses like the ANC pharmacy chain.

The Anchor Protocol (ANC) altcoin, whose price has risen due to a confusion, appears to be linked to the currently submerged Terra ecosystem. Prior to Terra’s collapse, the protocol was known for offering high APY yields over the algorithmic stablecoin UST.

However, it was revealed with the disaster in the LUNA ecosystem that this is not sustainable. Billions of LUNA tokens were minted to keep the UST price stable, and both UST and LUNA tokens approached zero.

*Not investment advice.