What Is AMP Token And Where Might It Be Headed?

As always I'm interested in altcoin tokens that actually have some functionality to them. I learned about Amp on Coinbase and felt it was worth a blog.

Ths aricle comes from https://www.benzinga.com/ (which I had not heard of before) and was written on 16th June 2021

AMP Token (CRYPTO: AMP) is a new cryptocurrency that was just picked up by Coinbase Global Inc. (NASDAQ:COIN).

AMP Token is a new digital collateral token that offers instant verifiable assurances for any kind of value transfer. More can be read about what the Ethereum (CRYPTO: ETH)-based token can do here, on the company frequently asked questions page.

AMP Token was up 11.8% at $0.10621 at last check.

AMP Token 15-Minute Chart Analysis

• The crypto was recently able to break out of an ascending triangle pattern and is now looking to test old resistance as support.
• The crypto is trading above both the 50-period moving average (green), and the 200-period moving average (blue), indicating recent sentiment in the crypto has been bullish.
• Each of these moving averages may hold as support on the 15-minute chart.

Key AMP Token Levels To Watch

• The crypto recently broke out of the ascending triangle and is now looking to bounce where resistance used to be.
• The 10-cent level is an area where the crypto found resistance and struggled to cross above for a time.
• The higher low trendline is another place on the chart that may hold as an area of support.

What’s Next For AMP Token?

Bullish technical traders would like to see AMP Token stay above the higher low trendline and continue to move upward. Bulls would also like to see the crypto stay above the moving averages.

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Additional information

Amp provides assets like:

• LTC
• LRC
• DAI
• ZEC
• USDC
• LINK
• GUSD
• cUSD

with instant, verifiable assurance for any real-world application.

Stake.

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.

Send.

Once staked to a partition, Amp is ready to collateralize a transfer. With the use of collateral pools, Amp effectively decentralizes the risk of asset transfer—especially suitable for fraud-proof networks and real-world applications.

Repeat.

Amp also simplifies network reward distribution once a transfer is complete. The Amp smart contracts offer a variety of built-in incentive models, including micro-distributions and continuous compounding.

Why Amp?

Amp helps you decentralize risk for your users with smart contract features purpose-built for collateral. Nothing more, nothing less.

Collateral as a service.

Amp collateralization is tested, audited, and freely available for anyone to use. It’s easy to build apps that lock and unlock Amp on demand to secure transfers, enable lending, and make value move more quickly.

Extensible and open-source.

Amp was designed to be as flexible and future-proof as possible. Amp’s open-source license makes it possible to create and deploy custom collateral managers for your app to interface with Amp on your own terms.

Non-inflationary.

When new projects adopt Amp, existing implementations benefit from increased liquidity and decentralization, which in turn reduces volatility and enhances collateral quality as a result of the token’s fixed supply.

Asset-agnostic.

Amp doesn’t discriminate based on consensus mechanism or form of asset. Any kind of transfer—whether digital or physical—can use Amp as collateral to secure transactions.

More to explore.

The Amp whitepaper dives further into the technical capabilities and advanced features of the Amp smart contracts,

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