AMP price has already provided year-to-date gains of about 1,700%, but recent developments could boost its price further.
Amp provides a platform for collateralising asset transfers through a system of collateral partitions and collateral managers. Its cryptocurrency AMP can be staked to a partition to guarantee any form of value exchange and effectively decentralise the risk of asset transfer.
AMP is seeing a lot of investor interest at the moment and is currently the ninth most-visited coin on CoinMarketCap. After dipping to a low of under $0.03 in May, AMP price hit an all time high of $0.12 yesterday, having surged 25% in the last 24 hours and 110% in the last week.
— Michael Quinn (@enmymike) June 15, 2021
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Why AMP could be a good price right now
AMP is used to facilitate instant payments by payment network Flexa, which is already integrated with a wide range of stores. One of Flexa’s partners is Shopify, which is currently rolling out its payment features to all Google and Facebook merchants, a move that will potentially buoy AMP price further.
AMP also received a Coinbase listing last week, introducing the coin to a large audience of new investors, as seen in its trading volume which is up 81% in the last 24 hours. The price of AMP has seen an increase of 1,700% so far this year, and with these latest developments, there could still be plenty of room for growth.