AMP crypto’s volume soars over 2200%. Here’s why

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AMP crypto’s volume soars over 2200%. Here’s why

 AMP crypto’s volume soars over 2200%. Here’s why
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Highlights

  • AMP crypto comes across as unique crypto that operates on Ethereum and Solana blockchains.
  • On 1 July, the AMP crypto witnessed a rally of 19.23% at 8 AM (GMT +1) and a huge volume gain of over 2,244%. 
  • On Friday, the AMP crypto was trading at US$0.010147 and a trading volume of US$11,87,80,768 over a day, according to CoinMarketCap.

With the likes of Bitcoin and Ethereum suffering losses of late, a lot of other cryptos have got an opportunity to make their mark in the market. One such crypto that is witnessing an increased interest from the market participants is AMP (AMP) crypto. 

AMP crypto comes across as unique crypto that operates on Ethereum and Solana blockchain. As an ERC-20 token, it primarily operates as an exclusive collateral token of the Flexa network. Through the Flexa network, the AMP protocol can irreversibly secure transactions, thereby reducing the risks. 

On 1 July, the AMP crypto witnessed a rally of 19.23% at 8 AM (GMT +1) and a huge volume gain of over 2,244%. 

Why is AMP crypto rallying?

Although the exact reason for the rally is still unclear, AMP crypto has been slowly making its mark in the bearish market. The 77-ranked crypto has racked up gains of 16.7% in the past 14 days and over 10% in the past week, according to CoinGecko.

Even in the intraday trading session, the AMP token witnessed an excellent rally as market participants seem to be on a buying spree. This is well indicated in the RSI of the AMP token, which stood at 52.84 on 1 July. 

•	On 1 July, the AMP crypto witnessed a rally of 19.23% at 8 AM (GMT +1) and a huge volume gain of over 2,244%.

Image credit: Trading View

The MACD line also seems to indicate an upward momentum with the signal line below the blue MACD line. 

According to its website, AMP crypto claims to be a versatile interface for verifiable collateralisation through collateral partitions and managers. It also guarantees payments in real-time using AMP as collateral, with merchants getting proceeds from fees they get with the open-market purchase of AMP tokens. 

Price performance  

The AMP crypto was trading at US$0.010147 on Friday and a trading volume of US$11,87,80,768 over a day, according to CoinMarketCap. The token enjoyed a live market cap of US $42,84,65,505 with 42,22,77,02,186 AMP coins in circulation. 

While the market’s bearishness may have given a chance to AMP crypto investors to perhaps look at its use cases before investing, it’s critical to understand that currently, the market is at its volatile best.

Hence, any investor should do proper research before picking up crypto tokens for investments. 

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