Amp has been one of the most volatile cryptocurrencies in the market and that is saying something since the whole crypto market is considered highly volatile. Amp coin started off the year with a price level of $0.0069 but unlike most cryptocurrencies in the market, the trajectory towards the new all-time high was not smooth. The coin has been oscillating up and down breaking it upward momentum several times during the bull run of 2021. It was, however, able to establish the new all-time high of $0.12.
The market crashed subsequently – as expected. Now the cryptocurrency market has been recovering but Amp has not been able to pick up the bullish momentum. Amp started off upwards during July but dropped drastically and started oscillating. In the weekly timeframe, the cryptocurrency, again, started gaining but has now fallen back.
At the time of writing, the cryptocurrency stands at a price level of $0.061. The price is falling in the recent timeframes with a decline of more than 2% in the past twenty-four hours. The daily trading volume has also dropped by 40%. Is the oscillating bearish momentum to last for Amp or will Amp be able to pick up the bullish momentum?
But what actually is Amp?
Before we get into the predicted future trajectory of the cryptocurrency let’s delve more into what it actually is. Amp is a cryptocurrency that is used for collateral purposes. It provides instantaneous assurance for any kind of digital transfer. The cryptocurrency utilizes a system pf collateral partitions – which are verified on Ethereum’s blockchain – and collateral managers – smart contracts.
Currently, the token supports Flexa Network. Flexa is a regulated pure-digital payment network. Flexa Network also has a strong strategic partnership with the crypto exchange Gemini which gives Amp exposure to the exchange as well. Amp can be used on network other than Flexa but the supply and economics of the token are similar to the native token of Flexa Network – Flexa Coin. However, Amp has greater functionalities than Flexa Coin.
Can the token pick up bullish momentum?
Although the cryptocurrency has been suffering and has not been able to benefit from the positive market trend as of late, it does not negate the value that Amp brings. Amp – being one of a kind of collateral tokens – has a good utility in the cryptocurrency space. Moreover, the strong backing of Flexa Network and indirectly Gemini exchange is also a fact that cannot be disregarded. Moreover, it has a strong footing in the market being the fiftieth largest cryptocurrency.
The future predictions of the token are bullish. According to the estimates of Wallet Investor, Amp is expected to be trading at a price level of $0.148 in a year’s time while the five-year price is projected at $0.479. Digital Coin Price expects the price to reach $0.089 by the end of the year while the price in 2026 is expected to be at $0.217.