Amp (CCC:AMP-USD) is on the rise today as investors continue to favor the crypto following its listing on Coinbase (NASDAQ:COIN) last week. However, some crypto lovers still have some questions about Amp.
For example, what is Amp crypto?
AMP is a form of cryptocurrency that acts as collateral. The cryptocurrency is currently used in this role to support the Flexa Network. That means it can be used to cover any financial transactions that go awry if the need arises.
Currently, the crypto is partnered with several services, such as Flexa, CoinGekco, Gemini, Sushi, and Uniswap. It’s also worth pointing out that there is a fixed value of AMP in circulation to protect it from volatility.
Of course, we can’t talk about AMP without bringing up Ethereum (CCC:ETH-USD). That’s because AMP is a crypto that’s based on ETH. This has it joining a growing list of tokens that are based on Ethereum.
Now let’s take a look at why AMP is going up.
Since listing on Coinbase, the price of Amp has been steadily rising. That makes sense as more investors are adopting the cryptocurrency now that it’s available on a more widely used platform. That means the AMP crypto could continue to rise as more traders take interest in it.
Crypto investors interested in the future of AMP might also be wondering about price predictions. Fortunately, we’ve got that covered. You can check out where the crypto is expected to head in 2021, 2025, and 2028 by following this link.
AMP is up 131.5% over a 24-hour period as of Wednesday morning.
Investors looking for more crypto news for Wednesday should keep scrolling.
InvestorPlace.com has a wide variety of coverage and that includes what’s happening in the crypto space. Our most recent news includes where to buy Shiba Inu (CCC:SHIB-USD), insight on Ankr (CCC:ANKR-USD), as well as a look at Ethereum Classic (CCC:ETC-USD). You can learn all about those topics at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.