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Cryptocurrency AMP has been making a buzz in the market since its listing on the leading crypto exchange, Coinbase Global Inc (COIN:US, NASDAQ:COIN), on June 10.
Formerly known as Flexacoin, AMP is a digital collateral token providing verifiable guarantees for any kind of value transactions using the Flexa Network. Its crypto token is also known as AMP.
AMP works based on decentralized finance (DeFi). The value transferred on an AMP project is directly verifiable on the Ethereum network. Its smart contracts can lock, release and redirect to support smooth value transfer operations.
Earlier in May, US-based retail firm Sheetz announced that it would start allowing payments in Bitcoin using Flexa Network’s services.
Since last year, AMP has been associated with giant Canadian e-commerce firm Shopify (TSX:SHOP). Its token soared more than 25 per cent on the back of Shopify’s recent plans to expand its payment options to all Google and Facebook-based merchants.
AMP token achieved its all-time high peak of US$ 0.1211 apiece on Thursday, June 17.
Source: Pixabay.com
AMP crypto has rocketed by more than 1,750 per cent year-to-date (YTD). The token surpassed most tier-1 altcoins in price performance this year, except meme-inspired Dogecoin, which is still up 6,450 per cent YTD.
AMP nearly doubled in the last one week to US$ 0.1115 apiece (data as on June 17). Its one-day volume stood at US$ 361 million, up 32 per cent on a day-over-day basis.
The token has a fully diluted market cap of US$ 10.13 billion. It is placed at the 28th position in terms of market cap, according to CoinMarketCap’s website.
AMP presently has a supply of 42.23 billion coins, or 46 per cent of the maximum supply of 92.54 billion coins.
AMP crypto price predictions
Amid the bear crypto market, AMP coin saw a triple-digit rise in the last one week, touching a lifetime high. The token is said to hold sustainable growth catalysts that could help it to expand multiple folds this year.
At this point, the AMP token is staring at the nearest target of US$ 0.15 apiece for June. If the token rallies at the same momentum, it could gain a double-digit figure by the end of 2021.
As per its historical data, the token could surge to US$ 2 apiece in the next six months. Having gained around 1,750 per cent so far this year, if the token gains about half of that (i.e., around 850 per cent) in the next six months, it could hit a value of US$ 1 apiece.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
