- Ampleforth Governance says it can provide stable assets with low correlation to BTC price
- The project has multiple tokens -- FORTH, AMPL, and a yet to be launched stablecoin
- Ampleforth Governance trading volume has recently surged, and prices of AMPL and FORTH are also up
Can Bitcoin be the new form of money? Or can other tokens like SHIB or DOGE act as a medium of exchange in the decentralized finance (DeFi) ecosystem?
These questions have experts baffled. How can an asset with highly fluctuating price become a reliable form of money? A relatively late entrant cryptocurrency project, Ampleforth, claims to weed out hyper-volatility, which ails virtually all cryptoassets. Let’s know more.
What is Ampleforth cryptocurrency?
The project claims to facilitate the creation of a “resilient” financial ecosystem, with tokenomics as its heart. The official website of Ampleforth talks about DeFi and multiple native tokens. The whitepaper states that Bitcoin has “low correlation” with assets like stocks. Though this is debatable considering the prolonged bearish phase both in stocks and cryptos in 2022, Ampleforth stresses on this aspect.
It further states that other native tokens have manifested correlation with Bitcoin price. This seems to point fingers at altcoins also gaining or losing value in tandem with BTC. Ampleforth claims to provide “synthetic commodity”, which that can have reduced correlation with BTC price movement.
AMPL token is the primary token of the project. It is claimed that the project would manage the supply of tokens to add stability to AMPL price.
As of writing, AMPL crypto had a market cap of over US$73 million. AMPL price was nearly US$0.9, which had gained over the past one day. CoinMarketCap data suggests AMPL token has largely traded in green this year. The price peaked to nearly US$1.3 in mid-January.
AMPL is said to be trading on FTX, KuCoin and other exchanges.
FORTH is ticker for Ampleforth Governance Token. It is said to give powers in the hands of Ampleforth ecosystem users to govern the project.
FORTH token had a price of nearly US$3.4 as of writing, with market cap of over US$53 million. The token’s price and trading volume were up nearly 30 per cent and 600 per cent respectively in the last 24 hours. But on a year-to-date (YTD) basis, FORTH token has not fared well, just like BTC and ETH.
FORTH crypto is said to be trading on Binance, Huobi Global and other exchanges.
Data provided by CoinMarketCap.com
Not much information is available on this third asset of Ampleforth, which has yet to be launched. It is stated that the stablecoin will be “inflation-resistant”.
Ampleforth is claiming to create a financial ecosystem with stable synthetic assets. It also states that its token will have low correlation with BTC and other assets. FORTH token has gained recently. AMPL token price is also in green. Ampleforth Governance token price prediction can be speculative because the cryptoverse is presently exhibiting extreme volatility.
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