AMP is designed initially to collateralize payments on the Flexa network. It is an ERC20 token that offers secure, instant payments on transactions. It is used to secure networks. In some rare cases, when a part is not paid due to a failed transfer, the party can collect AMP as collateral. It helps mainly in real estate sales.
Not only on the Flexa network, but it is also now used on CoinGecko, Sushiswap, and Uniwap. AMP has a hard cap to control inflation, and however, you can buy AMP using BTC on several exchanges. Dave Rogers invented AMP in 2020 to solve the trust issues for large transactions in real estate. The currency helps to back the crypto agreement and control the inflation or crash.
The only way to make money using AMP is to stake the transactions. This means you can lend out your AMP token from the other party when you successfully complete a transaction. You will receive a small fee for the use of AMP.
AMP is relatively a new cryptocurrency, so it is risky to buy because the value depends on the adoption of the merchants and retailers. It is hard to predict the future of this token, and however, let’s analyze the price for the short term.
At the time of writing, AMP is trading at a price of $0.037, which is near its support level. We often see spikes in the last few months. Probably, short-term investors should go for swing trading. The technical tools also back the chance because, on the daily chart, RSI is in the oversold zone. The MACD is also bearish, and the Bollinger Band also reflects a bearish sign.
Now there are two chances. Either the price will consolidate in a range, or we could find a bullish reversal. If it goes upward, then $0.068 will be a strong resistance level because the price changed its momentum from that level on a few occasions.
For short-term investors, we would recommend not to invest in this token because it does not have sufficient past records. Let’s wait for some time. However, if you are an aggressive investor looking for diversification and dynamic investment, then you can consider this token. AMP can be a popular cryptocurrency because it has a fixed supply and backs the crypto transactions with collaterals.
Indeed, based on AMP crypto price prediction, it has great potential and a fast-growing community, but the sustenance of the token will depend on market adoption.
