06 October 2021| ZebPay Trade-Desk
AMP is the latest digital collateral coin offering verifiable instant assurance for any kind of transfer of value. Networks like the FLEXA use the AMP network to swiftly and irreversibly secure transactions for a broad range of asset-related cases of use. On September 8th, 2020, AMP was formally launched on the Ethereum mainnet and made available for the staking to Flexa capacity.
AMP has been created to simplify the process of complication of staking and interacting with collateral on-chain, along with huge extensibility which results in improvement of the token’s utility with DeFi ecosystem growth and development. The very core of the AMP collateral model is the basic concept of partition. This is used to allocate collateral across various applications, use cases, and beneficiaries. Partitions jointly with upgradable AMP collateral managers enable the networks to be used for a wide range of collateral applications today making it a small hurdle for AMP to adopt and develop whenever a new type of contract interacts and transaction paradigms emerge.
AMP Snapshot (at the time of writing):
| Market Capitalization | $2,216,989,348 |
| Current Price | $0.052 |
| 24 HR Volume | $$61,276,307 |
| All Time High/Low | $0.121/$0.00079 |
| Script in Circulation | 42,227,702,186 AMP |
| Total Supply | 99,213,408,535 AMP |
AMP’s native token is known as AMP too. Currently, the circulating supply is about $42 Billion of AMP token from which is around 42% of the total supply. The AMP token is primarily used in the Flexa Network enabling crypto-collateralized transactions at brick and mortar vendors. In this network coins such as BTC, ETH and others are used to pay for services and goods in exchange the vendor receives the payment in fiat currency. The AMP token can now be traded in ZebPay’s exchange.
Investment Analysis:
AMP, treated as collateral, makes every other digital currency a fast, safe, and secure medium of exchange. When there is a transfer of digital assets there exists a natural pull and push amid the speed and security. In the case of crypto transfer, the more ratification the recipient waits for the more fixed it becomes. But that’s where the problem of the real world arises as waiting for some validation may not be practical in actual scenarios when speed is the key. This outstanding tradeoff between security and speed has created obstacles to use crypto as fiat currency.
AMP, by providing collateral for asset transfer let us use speed without having to compromise on security. Essentially AMP becomes this universal clearing layer for unlocking and transferring tokens that in other conditions would require waiting for validation before being used again. This amazing new power to use any coin immediately as soon as it’s transferred is a feature that can be benefitted by all assets whether it is physical or digital crypto or fiat currency of the Central Banks.
| Asset | AMP |
| YTD Return (%) | 374% |
| One week Return (%) | 22% |
| Return from ICO (%) | 451% |
| Market Rank | 58 |
| AMP | Q1 2021 | Q2 2021 | Q3 2021 |
| Price (US $) | 0.018 | 0.053 | 0.055 |
| MoM ROI (%) | 234.29% | 187.35% | 5.29% |
| Volume ($ bn) | 0.002 | 0.029 | 0.045 |
| % growth | 1080.54% | 1187.84% | 53.42% |
| Market Cap ($ bn) | 0.18 | 1.29 | 2.34 |
| % growth | 340.86% | 603.15% | 81.71% |
AMP token is a cryptocurrency created to solve the problem of slow confirmation times on the networks, price volatility, and board adoption which is plagued by these reasons. The token is primarily used to collateralize payments on the Flexa Network making them quick, secure, and instantaneous It is built on Ethereum Network in accordance with the ERC-20 token standard.
In the first table, we can see that prices have risen by about 374% since January. The first quarter of 2021 saw a phenomenal rise in the ROI and it continued to remain stable increasing at a good pace until the third quarter of 2021. This week AMP is trading at a range of $0.05 to $0.04. The volume followed the footsteps of Price and showed great growth of about 20581% since its launch. The first quarter into 2021 volume of the coin witnessed a humongous increase of 1080% which was carried down to the next quarter with an even greater increase of 1187%. This clearly shows that the May market crash hardly had an effect on the volume of the AMP coin. The last 9 months brought good news for market capitalization as they remained very stable and continued to swell climbing the rank ladder now occupying the 58th seat. The market cap has expanded by a whopping 7861%.
Conclusion
AMP is the key to the building block for the future of physical and digital transfers. Its absolute purpose is to act as collateral for the transfer of any asset. Two things make AMO unique, these two are an innovation in themselves which is Collateral managers and token partition. The AMP coin gained traction with listing in COINBASE in June. Combined with the news of Flexa’s partnership with e-commerce giant Shopify and expansion of its payment features to all Facebook and Google merchant AMP cemented its rising popularity and growth in price. The news of US Food and Retail chain Sheetz confirming it accepting BTC payment using Flexa’s services brought good news for the asset too. Cream Finance, a popular DeFi lending protocol was hacked and the market on Ethereum was exploited which led to a loss of $462 Million AMP token and 2800 Eth via using reentrancy of the AMP token contract causing free publicity for the asset. Cream promised to give back the stolen ETH and AMP coins via allocation of 20% of its protocol fees until the entire debt is paid. It also posted collateral with relevant parties at the AMP and its creator Flexa to secure the debt. Gemini exchange also listed AMP and it started trading on 15th September. With the recent news of the recovery of the stolen funds of $18.8 Million from cream finance by LOSSLESS, this obstacle would soon be jumped by AMP. Crypto is entirely digital so it’s prone to hacks, attacks, and breakouts but it’s the future of the world. The innovation of the century taking its place alongside the world wide web and tokens like AMP would be facilitating its smooth transition of acceptance and popularity. AMP has been doing great and with every upgrade, it will become more versatile and remove the difference between fiat and cryptocurrency.
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Disclaimer : This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice
