Amp price up 34% to $0.007674
Amp (AMP) price is red hot today, making it the standout performer in Sunday crypto trading, up 34% to $0.00763.
The Amp crypto asset will be familiar to many as the platform that hosts the Flexa instant crypto payment app, which in turn powers the SPEDN app.
Amp unique selling point – instant security
Using SPEDN, you can spend 25 or more cryptos in brick-and-mortar stores, with Chipotle among them. Indeed, it was Chipotle’s clever “buy the dip” marketing campaign around the acceptance of crypto payments earlier this year that put Amp, and the Flexa network that runs on top of it, on the map.
The unique selling point of Amp is that it provides immediate verifiable security to base layer users.
It is extremely useful for payment networks like Flexa that give consumers a way to spend crypto and merchants a way to accept the value in those assets.
Flexa instantly converts from crypto to fiat, so the seller never needs to handle crypto, and therefore does not bear the risk burden of the price changing in a direction that could lead to loss.
However, the Amp price was severely affected after it was removed by Binance.US following the SEC’s listing of the coin as an unlisted security.
Amplifier price – what is behind the pump in the price?
Although there is no solid news, Flexa founder Tyler Spalding will be speaking at Messari’s Mainnet event on September 22nd.
Some in the community expect an announcement about the status of payments made directly on apps as opposed to the point of sale now used by more than 41,000 merchants in the US and Canada.
Flexa adoption is likely to be helped by the fact that there is no need for additional hardware or complicated software upgrades.
The greater the volume that goes through Flexa, the more rewards there are for stakers from the fee charged for each transaction – stakers are those who deliver the assets to security pools via Flexa Capacity.
On the announcement side, a poster on Reddit 17 hours ago speculates that the project is well over due to the average float of announcement frequency. This adds weight to the theory that an appearance on the Mainnet by founder Spalding could be very important.
The Reddit post by MaazLife is titled, “If you thought Flexa didn’t get things done, take a step back and look at this,” and includes a handy list of milestone announcements.
The post is intended as a response to critics who say that the full rollout of Flexa Payments has still not started since the product was introduced on April 27 this year.
It should also be noted that the Amp board proposal in March of this year to distribute 1% of the fixed total supply to the developers of Flexa-enabled applications has not yet been rolled out, so it may be imminent. Such a move could dramatically and quickly increase the use of Flexa.
AMP has a circulating supply of 42.23 billion and a total supply of 100 billion, according to Coinmarketcap.
Staking AMP against a variety of cryptoassets currently earns an APY of between 6 and 10%, depending on the security pool. Tezo’s pool currently pays the best APY at 9.76%
Another variable to consider is the possibility that the far greater growth potential for AMP could come from institutional and professional traders accessing the security pools.
Will Chicago retail giant Jump use AMP?
Persistent rumors that Chicago retail giant Jump may be interested are not supported by hard evidence.
However, those hopes are derived from the fact that Jump is. supports highly scalable industrial-scale crypto trading platform Pyth, which runs on the Solana blockchain and by the existence of a wormhole bridge connecting AMP, which is an ERC20 token, to Solana.
But there are only 5 addresses associated with Amp on Solana and zero power supply, according to community administrator Nami whom Cryptonews contacted earlier today on the official Discord for Flexa and Amp payments.
Nevertheless, other evidence of a link comes directly from Jump itself, where under Selected Projects we note that Amp is included among the 23 cited.
Amp Price – Is Coinbase Confusing the Issue?
It could be that Coinbase is raising hopes – and confusion – about the Solana/Jump angle due to its misleading statement in Amp’s profile, where it says, in response to the question which blockchain network hosts AMP, that “Amp (AMP) is hosted on the Solana blockchain.”
Does the Amp price pump have legs?
Since trading at its highest level of $0.011, the token has fallen 93%, which has also seen it fall out of the top 100 coin market peak, a significant achievement for a crypto asset. Amp is currently ranked 109 on CMC.
Its climb back into the top 100 could help the price maintain its newfound momentum, as it would give it greater visibility in an ecosystem of 20,000 assets, according to CMC data.
Jumping into the market after such a sharp rise involves dangers for day traders.
But if you look further and focus on the basics, there’s a lot to like about this project.
An entry at current depressed price levels can be profitable for serious investors as opposed to those looking for speculative short-term returns.
Even if there is profit taking on some of today’s strong gains and the pump turns out to be narrowly based, upcoming news flow could quickly reverse such a reversal for this DeFi coin.
AMP may be one of the best cryptocurrencies to buy right now for big returns. And if you’re looking for another ten possible bags, Tamadoge is worth a look.
