This token defies the market and rises by 320%to reach the top 20 coins
This token defies the market and rises by 320%to reach the top 20 coins
- While most cryptos reached their highs in April and have fallen since then, the AMP token has recorded explosive growth in the past three weeks and reached a new all-time high.
- The token is now worth $ 4.9 billion after it has risen by Coinbase, Bittrex and others by over 300 percent within three weeks of listing.
2021 was the year of the cryptos, with Bitcoin leading a market rally that reached its peak in April. Since then, most cryptos have lost a considerable part of the profits they have recorded. Not so for little known amp token. The crypto rose parabolic last month and has recorded over 1,000 percent growth since mid -January. The top 20 is now approaching after the value has doubled in the past week.
AMP is a digital collateral token that offers immediate, verifiable collateral for any real application. It was developed by Flexa, a digital payment network that enables users to issue their digital assets in dealer shops, and Consensys, a company founded by Ethereum co-founder Joe Lubin, developed for blockchain software.
AMP is an ERC20 token-that is, it is based on Ethereum-and is used as security for payments on Flexa. So if a payment for digital assets from Flexa fails, AMP can be liquidated to cover the costs.
AMP was introduced in 2020 and started trading in September. At that time it was $ 0.01. In the following three months, however, he would collapse and reach the low point at $ 0.006. As with other cryptos, it would receive a thrust in January that led to USD 0.05 in February.
from Coinbase, the Bull Run and the race for the top 20
AMP was the best performer among the top 100 cryptos last month. On May 23rd it was traded at $ 0.027. Since then he has shot up and reached a new all -time high of $ 0.12 on June 16. At the time of going to press, he lost part of the profits and is traded at $ 0.1187.
The biggest spark behind the rally is the listing on coin base. At the beginning of this year one of the biggest challenges of AMP was the lack of accessibility for dealers. However, since its value has shot up, more exchanges have taken it on board. Coinbase picked it up on June 8, the trade started two days later.
From today on, incoming transfers for GTC, MLN & AMP are available in the regions where trade is supported. Dealers cannot place orders and no orders are carried out. The trade begins on or after 9:00 a.m. PT on Thursday, June 10th, when the liquidity conditions are met. https://t.co/wwyruixert
- Coinbase Pro (@coinbasePro) 8. June 2021
since Coinbase has announced the support for AMP, the price of the crypto has tripled.
A deeper insight into the crypto for Intotheblock shows that all amp holders are in money at the current price. The data of the platform also shows that AMP has growth in almost all other metrics, from active addresses and wallet credit to the average transaction value and the number of daily transactions.
Historical Break-Even Prize with the kind permission of Intotheblock
AMP has its reservations. One of them is that a large part of its offer is checked by a few whales because it is a new coin. According to Intotheblock, 83 percent of the offer of whales are controlled, while retailers only make up 7 percent.
Source: Crypto-news-flash.com
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