Amp’s payment solution saw rapid growth in 2021. Its native cryptocurrency skyrocketed to new highs. The total value locked into the platform surged as well.
But it has proved vulnerable to the bearish landscape. AMP is down 97% from its all-time high, as of 26 July 2023.
Amp has recently pivoted to a governance model. This brings more utility to the cryptocurrency. But AMP price predictions are divided.
What is Amp crypto (AMP)?
The balance between security and speed is a tightrope walked by traditional finance and blockchains. There is often a struggle between having safe transactions and quick processing times.
Amp was designed to solve this problem. The cryptocurrency project uses collateral to achieve security and fast transactions.
Practicality is at the forefront of this payment solution. Amp’s parent company is Flexa. A blockchain business that provides crypto payments.
Flexa was co-founded by Trevor Filter, Zachary Kilgore and Tyler Spalding. It launched in 2018. But the AMP token went live two years later.
How does Amp work?
The AMP cryptocurrency powers the payment system. Investors can stake the token, which locks it in as collateral. This then guarantees instant settlement time of other transactions.
Managers hold onto the AMP in escrow. Meanwhile, any digital payment or currency exchange can settle instantly.
“With the use of collateral pools, Amp effectively decentralizes the risk of asset transfer,” its website said. It lists “fraud-proof networks and real-world applications” as benefits of this system
Amp was built on the Flexa Network. But, there are tokenised versions of the cryptocurrency available on Ethereum, Solana, and Near.
Amp’s use cases
Companies can incorporate this system into their payments. Flexa launched the SPEDN app to achieve this. Businesses can receive secure and fast crypto payments.
AMP can also be used on an individual level. Investors can collateralise the token to ensure safe and swift asset transfers.
There are applications for decentralised finance (DeFi) platforms. The token was added to multiple protocols. Amp’s documentation said: “This has further diversified the current and future uses for Amp, and effectively increases its collateral quality.”
Where to buy AMP token?
AMP has been listed on a range of different exchanges. These include crypto giants, like Coinbase and Binance.
Decentralised platforms have also listed AMP. The cryptocurrency is featured on Uniswap and Sushiswap.
AMP crypto price history
AMP launched at $0.009 on 11 September 2020. But it did not see any initial success. It fell to $0.003 by the end of October. AMP then plummeted to its all-time low of $0.0007 on 17 November.
However, the token kicked off 2021 on a high. AMP saw its first major rally when it climbed to $0.03 on 13 February. This surge accompanied a surge in the crypto market.
AMP continued to climb over the following months. It broke past the $0.05 level in April. The cryptocurrency peaked at $0.07 on 7 May.
This price action came as Amp announced it was launching on the DeFi protocol Yield. This would incentivise investors to lend and borrow the cryptocurrency.
Flexa had also launched DOGE on the SPEDN app. This improved the applications and offerings from the Amp flexa ecosystem.
AMP then rocketed to its all-time high of $0.12 on 16 June 2021. The surge followed its listing on the Coinbase exchange.
AMP was volatile over the next few months. It saw a major correction to the $0.04 level at the end of July. But the cryptocurrency then climbed back to $0.06 in August.
More price spikes took place towards the end of the year. This accompanied the bullish crypto space at the time. AMP broke past $0.07 again at the beginning of November.
AMP’s bearish trend
However, AMP proved especially vulnerable to the bear market in 2022. By the beginning of the year, it had fallen to $0.02 level.
The cryptocurrency crashed further in May. The downward trajectory followed the market fallout from the Terra Luna crash. In June, AMP fell below its launch price and the $0.01 barrier.
AMP has been unable to climb back above its initial launch price. The bearish price action continued throughout the rest of 2022. AMP closed the year at $0.003
The Ampera Foundation
AMP did see a slight spike at the beginning of 2023. In February, the cryptocurrency announced it was forming a not-for-profit entity titled the Ampera Foundation. It described itself as “dedicated to the development and growth of the Amp ecosystem”.
AMP climbed to a high of $0.007 on 23 February.
The foundation brought new utility to the cryptocurrency. Investors can now use their AMP tokens to vote on decisions impacting the ecosystem.
As of 26 July, AMP is trading at $0.002. It is up 21% in the past 24 hours and 35% in the previous seven days. AMP has a market cap of $116m. This ranks it 177th out of all cryptocurrencies, according to CoinMarketCap.
AMP price prediction
There is a mixed sentiment for the AMP price prediction. Some expect this bearish trend to continue. Meanwhile others are more optimistic about AMP’s potential.
AMP price prediction for 2023
The technical analysis from CoinCodex gave a neutral sentiment. However, there were 20 bullish technical indicators and only 8 bearish.
It estimated a slight rise for AMP over the next month. The cryptocurrency was estimated to reach $0.0028 on 25 August.
A similar sentiment was provided by PricePrediction. The AMP price prediction for 2023 gave an average price of $0.003.
DigitalCoinPrice was more optimistic. It suggested AMP could average out at $0.005 this year. The site gave a minimum price of $0.0024 and a maximum price of $0.006.
AMP price prediction for 2025
AMP could see a steady rise over the next few years, according to DigitalCoinPrice. An average price of $0.006 was given for 2024. By the following year, AMP was expected to hit $0.009.
A more gradual trajectory was estimated by PricePrediction. It suggested AMP would reach $0.004 in 2024 and $0.006 in 2025.
Meanwhile, WalletInvestor gave a bearish AMP price prediction for 2025. The site’s AMP coin price prediction said it was a “bad” long-term investment. It suggested that the coin would slump to $0.000139 at the beginning of 2025.
However, a slight rise was predicted over the following years. WalletInvestor said it would reach $0.0003 in 2028.
AMP price prediction for 2030
PricePrediction expected the upward trajectory to continue in the long-term. By 2030, AMP was estimated to hit $0.038.
A similarly bullish sentiment was shared by DigitalCoinPrice. Its AMP price prediction for 2030 anticipated the cryptocurrency to reach $0.02.
AMP price prediction for 2040
Not many have been bold enough to give an AMP price prediction for 2040. AMP has a volatile price history. This means long-term predictions are difficult to make.
Future of Amp
The Ampera Foundation could be a significant shift to Amp’s future. A move to decentralised governance could be increasingly influential on the platform’s direction.
Voting on key decisions has already started taking place. In April, the community voted to continue its reward program.
But price predictions are conflicted on whether is enough to escape AMP’s current bearish trend.
FAQs
Will AMP reach $10?
The AMP crypto price predictions do not expect it to pass $10 in the next decade. DigitalCoinPrice expected it to hit $0.02 in 2030. Meanwhile, WalletInvestor has a bearish AMP token price prediction. It said the cryptocurrency would fall to $0.0001 in 2025.
Remember, investors should always conduct thorough research and exercise caution.
Is AMP a good investment?
It depends. PricePrediction has a bullish outlook on AMP’s future. It said the coin could rocket to $0.038 in 2030. But WalletInvestor expected AMP’s current bearish trend to continue.
AMP has proven to be a volatile cryptocurrency. Investors should never buy more than they can afford to lose.
Will AMP crypto explode?
There is a mixed sentiment at the time of writing. CoinCodex said there was neutral sentiment. But DigitalCoinPrice expected a breakout over the coming years.
Disclaimer: The information provided in this article is for informational and educational purposes only and should not be construed as financial advice. CoinNews and its authors are not financial advisors or experts. We recommend that you consult a professional financial advisor or conduct thorough research before making any investment decisions. Cryptocurrency investments carry a high degree of risk, and you should only invest an amount you are willing to lose. The opinions expressed in this article are those of the author and do not necessarily reflect the views of CoinNews or its affiliates.
