Since its listing on Coinbase on June 10, AMP Crypto's price has steadily increased in the market. He has already won 90%. It is in 28th place but in view of its progress, AMP will not be long in making it into the Top 20. What explains the explosion of this crypto on the stock market after the Crypto Crash.
Debrief on the two factors that explain the rise of AMP Crypto on the market!
AMP Crypto: Collateral for crypto payments
AMP Crypto is an ERC-20 token that originated on the Ethereum blockchain. In fact, AMP is a DeFi crypto used as collateral to facilitate the speed, security and decentralization of transactions with digital currencies. To achieve its goals, AMP intends to reduce the cost of inter-exchange of payments between players and completely eliminate the risk of fraud.
The massive use of AMP crypto as a foreign exchange currency arose out of the difficulties faced by businesses that accept digital currencies as a form of payment. AMP Crypto solves this problem. When you make a payment to your suppliers in Bitcoin on Flexa, AMP tokens equivalent to the amount in Bitcoin are mobilized in case the suppliers do not receive the payment in Bitcoin on time.
As a reminder, Flexa is a company that allows merchants to make payments in cryptocurrency. It uses crypto AMP as collateral in case the transactions of other cryptocurrencies experience difficulties. The company has over $ 1 billion under management on its platform. Nearly 25 cryptocurrencies are accepted on its platform. Currently, AMP Crypto's market cap stands at over $ 4 billion.
AMP Crypto listing on Coinbase
Prior to AMP's listing on Coinbase, specifically on June 9, the cryptocurrency's price was $ 0.05825. During the listing period, the price of AMP was $ 0.065. A day later, it fell to $ 0.085. Currently, AMP Crypto is trading for $ 0.1055 in the market, an increase of 62.30%.
As a reminder, at the start of this year the crypto was valued at 0.0066 and 0.0095 at the time of its ICO. On an annual basis, the company has already recorded an increase of 1498%. Compared to its initial public offering, it has risen to 1010%. Which surely places it among the best yields on the market.
In fact, AMP crypto is not the only one that can benefit from the coinbase effect. Dogecoin has surged significantly on the stock market after Coinbase announced its availability on the pro version of its platform. Shiba’s price also skyrocketed following his listing on coinbase Pro.