AMP Token is gaining momentum amongst crypto investors with the price gaining 85% over the past 7 days of trading. The market cap for AMP Token has now broken into the $4 Billion mark, making it the 28th largest cryptocurrency by Market Capitalisation. Alt-coins such as AMP are gaining traction in the crypto ecosystem as they aim to solve efficiency issues with current cryptos such as Bitcoin and Ethereum. The increasing availability of AMP Token in major crypto exchanges has been a large factor in its increasing popularity.

Coinbase adopts AMP on their exchange

Coinbase’s recent adoption of AMP on June 11th has boosted its availability to the general market dramatically. The price of AMP token was roughly $0.055 on June 10th prior to the Coinbase announcement. Since the announcement, the value of AMP has increased to $0.093 on June 16th. There is no doubt that Coinbase, the largest US crypto exchange has had a positive influence on the AMP price.

What’s the outlook for AMP Token in 2021?

In comparison to other Alt-coins such as Shiba-Inu and Dogecoin, the Ethereum based AMP token has unique features that vastly improve efficiency and security. The AMP Token aims to “collateralize payments on the Flexa Network, making them instant and secure.” Tokens that improve the functionality of the decentralised finance system tend to perform better over the longer term. With future adoption of AMP in other large exchanges, we can conclude this will likely be a driving factor in the AMP price over the long run.

The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.

Want to start trading crypto-currency? We are now official partners with eToro. If you are interested in joining eToro click the link here or the banner below. Please see the disclaimer below regarding use of Etoro. For more information on our partnerships, see our disclosure statement here.

eToro Disclaimer – Your capital is at risk 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.