Amp
About Amp
The price of Amp (AMP) is $0.00364088 today, as of Sep 16 08:16 p.m., with a 24-hour trading volume of $9.42M. Over the last 24 hours, the price has decreased by -3.74%. Amp currently has a circulating supply of 80.72B and a market cap of $293.90M.
AMP, the native cryptocurrency of the Amp blockchain, is a collateralized token designed to speed up transactions in cryptocurrency networks, including the two largest in the world – Bitcoin and Ethereum.
To do that, Amp allows users to provide AMP tokens as collateral for transactions on the Bitcoin, Ethereum and other cryptocurrency networks. If transactions take too long to process or are unsuccessful, AMP tokens are liquidated to cover the costs so that the receiving party still gets paid.
AMP is capped at a total supply of 100 billion. Twenty-five percent of that goes to the Merchant Development Fund to encourage merchants to use the Flexa payment network. Flexa is the company behind Amp. Twenty-five percent goes to developer grants, to encourage developers to incorporate Amp into their apps. Twenty percent goes to the founding team of Flexa, and another 20 percent goes to token sales. The other 10% goes to Amp’s Network Development Fund to support development of the network during its first 10 years.
Before the AMP token was created in 2020, the Amp network used the flexacoin (FXC) token. In 2020, the old flexacoin tokens were “burned,” or removed from circulation, in favor of the new AMP token at a 1:1 rate.
When AMP started in September 2020, its price was worth a fraction of a cent. The price bounced between $0.003 and $0.01 until February 2021, when it started gaining steam and hit a peak of $0.037. AMP’s price reached its all-time high of $0.11 in June 2021 before crashing to $0.041. Since then (as of November 2021), the price has been volatile, sitting in the $0.04 to $0.08 range.