Amp is starting to rise to use blockchain to make money seriously. An AMP token, a token that can be collateral, is the foundation of the Amp blockchain. It speeds up transactions. The crypto is now on the verge of making a comeback to its previous high point reached earlier this year.
June 16 was when it hit a high point of $1.09 a piece of candy. By December 4, it had dropped to $5.99 apiece. That’s a 51% drop in the last six months or so.
On July 19 and again on October 27, it hit 4.1 cents. So, in the last month and a half, AMP has risen more than 30%. Many people have made money in the previous month or so.
AMP can use its blockchain to make transactions move faster, so it can do this. It is especially true for Ethereum, which is known for taking a long time to send money.
People can use Amp tokens as collateral for transactions on other crypto networks, like Bitcoin and Ethereum. It can then be sold as collateral if the transaction takes too long or doesn’t work out. That way, the paid person still gets paid because they use the money as collateral for the deal.
AMP can back any account, application, or transaction, and the balances may be verified on the Ethereum blockchain. It may also assist you in managing your money is used as a smart contract collateral manager. CoinMarketCap claims it can hold, release, and relocate collateral globally to let consumers move money.
December 4, it had a value of $2.25 billion. At that time, it was the 63rd most valuable cryptocurrency globally. It is not a tiny blockchain, after all. As more people trust it, its value will keep going up.
I don’t particularly appreciate that Amp hasn’t moved into new areas that investors are interested in these days, which is one thing I don’t like. In my opinion, because Flexa doesn’t seem to be moving into smart contracts or decentralized apps like DeFi, I think they will also stay away from these types of things in the not-too-distant future (dApps).
It will have to get rid of its non-fungible token (NFT) specialty to generate more money in its market. There are several factors now that assist a cryptocurrency rise in value. Flexa may figure up a method for Amp to aid NFT owners other than as transaction collateral.
Future of AMP
I think AMP has done very well this year. It cost 0.66 cents per token at the end of last year. So, at its December 4 price of 5.34 cents, it is now eight times the price at the end of the year. For most people, that is an excellent return on their money.
Amp doesn’t seem to be spending a lot of money when it comes to marketing. There has also been little news about new collaborations or partnerships with Amp. Many people would do that if the crypto had a chance of rising another eight times.
However, if Amp keeps getting a lot of attention as a way to speed up transactions and make them more secure, you can expect it to keep going up. I wouldn’t be surprised if AMP went up 20% to 50% in the next year because of this.
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