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AMP crypto price prediction: A promising but struggling coin


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AMP crypto price prediction
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AMP, the coin of collateralised asset transfer network Flexa, is in a particularly volatile mood today (25 April) having risen 9% to $0.023 only to fall sharply then to rise even higher and then to fall again.

The coin had slowly stumbling its way back into growth as it entered April but then declined before another volatile period took it as high as $0.0244 before plunging down and kicking off this latest round of see-saw pricing.  

Even by the high standards of cryptocurrencies, AMP shows a particular tendency for sharp price swings. But, generally speaking, the peaks are successively lower and the coin's value is nearly 80% off its all time high of last June.    

So what's next for AMP? Can it can gain momentum and break out of this long, disppointing decline? If so what is a realistic target price for the near future? 

In this article, we will look at various predictions and analysis, review the latest news developments and assess some of the many Flexa coin price predictions to help you understand if AMP should be part of your portfolio.

What you need to know about the AMP crypto coin

What is the AMP crypto coin?

The AMP coin is unique in several ways. It is designed to decentralise risk in a payment transaction by dramatically reducing the assurance cost from existing counterparty networks, as well as incorporating a novel partition interface to facilitate the interoperability of staking contracts for any surety mechanism.

AMP is ERC20-compatible and operates as the exclusive collateral token of the Flexa network, a merchant network that accepts low-cost digital payments in a fraud-proof manner. 

Payments are guaranteed in real-time using AMP as collateral, which decentralises risk, while proceeds from merchant fees are used to autonomously open-market purchase AMP tokens. The tokens feature on-chain collateral managers, otherwise known as smart contracts, which lock and release AMP as collateral for transactions made with other cryptocurrencies.

How many AMP coins are there?

There are currently 42.23 billion AMP coins in circulation, out of a maximum supply of 92.55 billion and a total supply of 99.21 billion, according to CoinMarketCap on 25 April.

To access the Flexa network, applications can supply AMP to a designated smart contract via meta-staking. This process requires participants to stake AMP into pools that secure the network. 

It is worth noting that the AMP token contract is immutable and collateral pools are permissionless so that participants can supply/withdraw without time, financial or competitive restriction. 

AMP can be described as a form of transaction insurance because if a transaction on the Flexa network fails as a result of lengthy transaction times, the AMP cryptocurrency steps in to offset those losses.

But what is Flexa’s role in the transaction process? Well, the network includes various exchanges and financial institutions to provide complaint settlement across multiple jurisdictions. Flexa then integrates natively with existing point of sale (POS) systems and online platforms to enable payment in a typical checkout experience. 

More specifically, Flexa decentralises transaction insurance, decoupling merchant settlement from the initial consumer payment to provide immediate finality-as-a-service, thus enabling payment functionality, applications and communities to collectively stake AMP tokens on behalf of users. 

In other AMP crypto news, users around the world have staked $710m in AMP to back Flexa payments, as of 10 March. It was $1.3bn on 6 January.

It had received a 40% boost to its price on 23 November when leading exchange Binance announced it was making AMP available to its users. 

On 1 December Flexa announced that Solana's asset the SOL would be accepted on the network. This, it said, means "the fastest blockchain meets the fastest and most fraud-proof payments network".

On 4 December Flexa announced it can now service SUSHI payments. In a Twitter poll as to which asset should be added next MATIC came top closely followed by ALGO. 

On 7 January it was listed on the exchange Bitstamp for the first time. 

On 14 January AMP became available on Vauld, a sort of bank for cryptocurrencies, which offers AMP holders "full support for trading, lending, borrowing, and saving."

On 17 March it tweeted that it was partnering with Ondo Finance to join the Frax-as-a-service. With $10m of coin being committed by both sides AMP said: "This will be the deepest Amp liquidity pool on any DEX (decentralised exchange)" and adding that this means "more options for fulfilling trades and a new decentralised stablecoin pair to trade against." Frax is a stablecoin whose supply is backed by collateral and algorithm.

Let’s take a look at the latest news and developments, as well as the long-term forecast for the AMP crypto price prediction. 

AMP price analysis: Technical view

When did the AMP coin come out?

The AMP coin launched in September 2020.

The AMP coin started its journey at $0.0095 on 11 September 2020. It sustained that price level until 4 February 2021, when it reached $0.0114. The token then registered a spike on 25 May 2021, trading at $0.039.

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On June 10, AMP was listed on the mainstream cryptocurrency exchange Coinbase, leading the token to hit an all-time high of $0.121 on 16 June 2021, according to data from CoinMarketCap. 

AMP reached $0.045 on October 31, but in the last few months the price has been getting condensed between narrowing highs and lows.

Technical analysis provided by CoinCodex on 25 April showed that short-term sentiment on AMP was bearish, with six indicators displaying bullish signals and 18 bearish. Its short term AMP price prediction was it would fall 2% to $0.021 by 30 April.

The daily simple and exponential moving averages are giving sell signals, according to data from TradingView, while the Relative Strength Index (RSI) was at 41.27 (25 April). An RSI reading of 30 or below indicates an oversold or undervalued condition. Trading View's overall recommendation was neutral. 

AMP coin fundamental analysis

The AMP token, which serves as a singular type of collateral within Flexa, appears to have benefited from a listing on the Coinbase trading platform in June 2021. 

More people now have access to buy and sell AMP as a result. This has led to a steady increase in the digital collateral token’s popularity. AMP could also benefit from the fact that cryptocurrency investors can now earn income through staking, a process whereby an individual earns passive income in addition to their token price gain. 

As a whole, the rise of global token networks has fostered a spectrum of innovative projects with features specific to spending utility, low-volatility protocols, pegged assets and synthetic commodities. 

A benefit of AMP is that the protocol provides a completely autonomous collateralisation system. Typically collateralisation means that users are dependent on a third party, however AMP removes this requirement by offering a decentralised digital alternative. 

Another major plus is that the AMP network provides real-time finality assurance which gives a boost to the token. A drawback of cryptocurrency payments can be the time that transactions take to be completed at point of sale. 

What is especially unique about the AMP network is that users can collateraise their assets instantly. This makes the protocol both scalable and suitable for the needs of a growing digital economy. Not to mention that AMP users enjoy a high level of interoperability. As of June last year the protocol supported over 25 digital assets.  

Risks ahead for AMP 

Cryptocurrency markets have been subject to high volatility, driven in part by varying perceptions of the intrinsic value of crypto as a store of value. 

Various upward and downward price movements have taken place over the last few years. For example, in May 2021, bitcoin plunged by as much as 30% to about $30,000. 

As a native utility token of the Flexa network, AMP is a relatively new project, launched only in September 2020, which means it is still on its journey of achieving broader adoption. 

While cryptocurrencies such as AMP have been hailed as potentially disruptive financial technologies, technological barriers still remain, which may affect the crypto-asset ecosystem as a whole.  

AMP has a non-inflationary, fixed-total supply of tokens, which could rise in value as a direct result of broader adoption, notwithstanding the risks facing the digital collateral token.  

AMP coin price prediction: 2022-2030

In terms of an AMP crypto price prediction, on 25 April algorithm-based forecasting service Wallet Investor saw it as a bad short term investment. Based on historical data, Wallet Investor saw the price falling to $0.002 in a year's time and falling to $0.00093 in five years.

In its AMP prediction, DigitalCoin Price expected the token to grow to $0.029 in 2022. In its longer term outlook the forecasting company saw AMP rising to $0.043 by in 2025 and eventually hitting $0.074 in 2028.

Coinjournal’s cryptocurrency analyst, Motiur Rahman, said that AMP addresses a key segment of the crypto industry – the collateralisation of assets, which gives the industry a new dimension. 

“Users will be able to use collateralised crypto assets in contract finance and credit finance. There is a lot of wealth already tied into the cryptocurrency industry and AMP opens the door for unlimited applications in real-life situations” Rahman told capital.com. 
“Although the coin recently spiked, trading at a new 30-day high, it is still several levels below its yearly highs of about $0.11 which leaves a lot of room for the rally to continue”. 

Overall, as more merchants integrate payments capabilities with Flexa, AMP’s use case could become stronger, potentially boosting the token’s price.

Note that algorithm-based price prprojections can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose. 

FAQs

Is the AMP coin a good investment?

Whether AMP is a good investment for you depends on your personal circumstances and risk appetite. Cryptocurrencies are high-risk, highly volatile assets. You should do your own research and evaluate the level of risk you are prepared to accept before investing. And never invest money you cannot afford to lose.

Will the AMP price go up?

The algorithm-based company Wallet Investor predicted that the price could fall to $0.00091 in five years.

You should note that these predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

Can the AMP coin reach $1?

Based on Flexa predictions from Wallet Investor and Digital Coin Price, the AMP price there are low expectaions the price will reach $1 within the decade. 

You should note that these predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

How many AMP coins are there?

There are currently 42.23 billion AMP coins in circulation, out of a maximum supply of 92.55 billion and a total supply of 99.21 billion, according to CoinMarketCap.

Read more: SLP coin price prediction: will the gaming token rebound?

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