AMP Down by 8.64% in a Week; Can It Be Retracted?

Blockchain was developed for added utility and convenience over complications. AMP-enabled payment firms like Flexa and others utilize the new age technologies to solve many problems. AMP is just a digital network that connects to all hardware and software points of sale online using Flexa.

It’s just a web that allows payments to go to merchants. Wallets can connect to Flexa and pay with the assets listed on its payment mode. AMP brings its collateral mechanism to allow all the wallets to participate in the network itself. 

Credit card processing today witnesses huge fraudulent activities but using AMP payments wallets can verify digital assets and their genuineness cost-effectively. Decentralizing verification across these different types of technologies will turn payment systems to be much more effective.

In such a scenario, AMP showcases a strong presence and growth potential. Despite its huge market loss, it carries a market capitalization of $479,239,312, with 46% of AMP tokens in circulation currently valued at $0.0114.

AMP has plunged a decimal place marking a significant decline in its valuation, raising severe eyebrows about its sustainability and continued growth to market real-time profits. There has been some support near its fresh low levels. Still, AMP value is just a means to project the value of digital collateralization, which requires a spike in digital transactions using unliquidated assets.

AMP price chart

The significant decline in April and May has been a testament to decreasing transactions on digital assets using collateralized methods. Traders should not move ahead with a lot of caution during such a volatile period, and must read detailed AMP price predictions and identify futuristic potential.

AMP token has no real-time usage other than collateralization. Hence, two factors, directly and indirectly, affect its price trend. The first would be the time required for a transaction to complete, while the second would be the number of digital collateralization ongoing.

The rise in transactions and a decline in collateralization completion time can be the only way to make progress in AMP’s price. AMP has been sustaining the onslaught for a month, halting the decline. However, it may be difficult to hold this level for a long time. Either the price would elevate to $0.03 or tumble down below the recent lows of $0.0092.

RSI indicates barely any movement in buying sentiment, which is confirmed by its relatively lower transaction volumes and price trend. Hence, buyers should wait for positive indications to rise before acquiring this coin because it is trading at a discounted value to its fresh highs.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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