AMP token price technical indicators hint towards a strong uptrend at a price for the future.
Why Invest In AMP Token?
AMP token is currently observing a consolidated momentum despite the rise in overall market conditions. AMP price has marked a gain of more than 0.5% in the intraday session.
The platform is also described as the new digital collateral token offering instant and verifiable assurances for any value transfer throughout the network. The token aims to provide a straightforward but versatile system to its users for verifiable collateralization through a system of collateral partitions and various managers.
AMP Price Live Data
Amp price today
The token is $0.030704 USD with a 24-hour trading volume of $18,994,133 USD. We update our AMP to USD price in real-time. Amp is down 6.57% in the last 24 hours. The current CoinMarketCap ranking is #77, with a live market cap of $1,296,550,370 USD. It has a circulating supply of 42,227,702,186 AMP coins and a max. supply of 92,547,638,199 AMP coins.
Technical Indicators Of The AMP Coin Price Hints Towards A Consolidated Momentum
The weekly technical chart of the AMP highlights a bearish momentum for upcoming weeks. The asset price has seen a downside momentum on the daily chart after reaching its 30 days high. AMP coin price resistance while going upside can be seen near the value of $0.08. The bounce back in the coin price while going down can be seen near $0.04.
The asset price is currently trading near the 50 and 100 Daily Moving Average, with a possibility of negative crossover in the future. The 50 DMA is presently near the value of $0.581, making it a temporary support region for the price. There is a parallel channel formation on the daily chart of AMP. If it jumps above $0.1, a solid bullish momentum can be seen. AMP/BTC pair can also see strong bullish momentum in price.
Flexa Announces Migration of Flexacoin to AMP
Flexa, the world’s fastest and most secure payments network for cryptocurrencies, has announced the launch of its new token and staking platform called AMP.
Designed in collaboration with the blockchain software technology ConsenSys, AMP is part of its efforts to decentralize payments securely and efficiently.
Features of AMP
AMP is an open-source digital collateral token that facilitates fast and secure multi-asset transactions on Flexa’s payments network. Flexa claims it to be ERC20-compliant and equipped with the latest Ethereum technologies, such as operators and partitions.
After introducing AMP, the subsequent challenge for Flexa was to enable it to take over FXC. The only way for AMP to do that was to achieve exchange liquidity. So, Flexa partnered with the cryptocurrency exchange Gemini, which will help AMP maintain exchange liquidity relative to other assets.
Fate of Flexacoin
Flexacoin (FXC) is another digital collateral token from Flexa that facilitates secure, transparent, and instant cryptocurrency payments. With the launch of AMP, Flexa has also announced to discontinue the support for using FXC as a digital collateral token for cryptocurrency payments on September 30, 2020.
Till then, AMP and FXC can be used as combined collateral by Flexa Capacity for cryptocurrency payments on Flexa’s payments network. Flexa Capacity is a decentralized application (dApp) and collateralization smart contract developed by Flexa.
Migrating from FXC to AMP
Despite its similarity with FXC in many ways, AMP has improved functionality as collateral. Because the newer collateral management interfaces do not support FXC, users need to migrate their digital collateral tokens from Flexa Capacity to AMP.
The process of migrating from FXC to AMP is relatively simple and involves a few steps:
- Connecting digital wallet to the Flexa Capacity
- Authorizing the Flexa Capacity to migrate FXC to AMP
Significantly, users will receive network rewards both during and after the migration. Distribution of rewards during migration will be based on combined FXC and AMP balance, while after migration, it will depend on AMP balances alone.
Flexa aims to revolutionize payments by creating a decentralized finance ecosystem. With its innovative blockchain solutions and services, Flexa is committed to enhancing the capabilities of AMP as collateral for payments at any decentralized platform.
Conclusion
AMP token price is currently in a slump but can soon revert to the uptrend. AMP/BTC pair can also observe a new high in the future. Investors should do their due diligence before investing.
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