Altcoin bulls, rejoice! The Amp (CCC:AMP-USD) crypto is heading to the moon, or at the very least, a new six-month high. What is the catalyst? AMP gained 42% on Tuesday after receiving a listing on one of the largest crypto exchanges in the world, Binance. Now, with crypto bulls playing ball, where will it go next?
This is actually the second major listing for the token this month. Voyager added AMP to its exchange less than a week ago, on Nov. 17. As such, the altcoin has been enjoying a wild month. It remains one of the few thriving alternative assets while most of the big-name cryptos attempt to shake a general downtick heading into the holiday season.
AMP functions as a sort of crypto collateral on the Flexa Network. In a situation where Bitcoin (CCC:BTC-USD) or Ethereum transactions fail for any reason, AMP can be liquidated to cover the transaction and pay the vendor. As such, it’s seen as a sort of safeguard for crypto payments.
“Amp is an extensible platform for collateralizing asset transfers. By staking Amp, any form of value exchange can be guaranteed: digital payments, fiat currency exchange, loan distributions, property sales, and more.”
So with all the momentum going for the token, where is it headed? Let’s see what some experts think about the fledgling currency:
AMP Crypto Price Predictions: To the Moon?
- With AMP currently sitting at 6 cents, CoinQuora believes it’s likely to remain around the same price, unless it gains major traction up or down before the end of the year. For 2022, however, the site believes AMP could hit peaks as high as 12 cents.
- Coin Price Forecast is ruthlessly bullish on AMP. The site sees it hitting 12 cents by year end and 22 cents by mid-2022.
- WalletInvestor is a bit more conservative. The site sees AMP hovering around its current price range through the year, but believes it could hit 10 cents within a year and 31 cents by 2026.
On the date of publication, Shrey Dua 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.