AMP Price Up By 4.62% -Time To Buy AMP Coin?
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AMP has braved the bears to record significant gains in the crypto market in the last 24 hours. The asset has attracted investors who are now rushing to buy AMP.
The crypto market has continued to witness a downtrend, with many large-cap digital assets suffering massive losses. Still, AMP has been one of the few alternative currencies (altcoins) that has weathered the storm and is now marching up north.
AMP Market Position
Amp is a new digital collateral token that offers instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can secure transactions quickly and irreversibly for a wide variety of asset-related use cases.
At press time, AMP is trading at $0.0564, up 4.62% in the last 24 hours. The weekly chart shows that AMP has been down 4.98% in the last 7 days.
The 60th position crypto asset with a market dominance of 0.10% has a market cap of over $2.38 million, up 4.62% in the last 24 hours. The digital asset has also posted a trading volume of $2.38 million, up 4.62% in the past 24 hours.
AMP had attained an all-time high (ATH) of $0.1208 on June 16; however, with this current rally, there is a likelihood that the asset will surpass the current landmark price.
AMP Technical and Fundamental Analysis
AMP is trading below the 20-day moving average (MA) support price of $0.0572, indicating that the digital asset is on a bearing run. However, a reversal of this trend is likely to occur if this rally is sustained.
The relative strength index (RSI) of 50.82 shows that the utility token is trading in the underbought, which gives investors a good opportunity to buy AMP.
The moving average convergence divergence (MACD) has the orange trendline indicator just slightly crossing the green trendline, signalling a sell order.
However, prudent investors may interpret this MACD data as a good moment to buy AMP and ride along in this current rally.
Recent fundamental reports have backed the rise of the asset. Snigel has been announced as an official AMP-supported vendor by AMP.
With this new development, publishers can now seamlessly add Snigel’s programmatic advertising technology to AMP websites.
Snigel supports a diverse and industrious group of publishers all over the world. Using Snigel, publishers can improve their viewability, optimise their ads and thereby grow their revenue greatly.
In another report, Bento component library has launched on the AMP network. Bento components are performance components that have great user experience infused into them.
Bento components are an offspring emanating from a project powered by the AMP team that began two years ago, seeking to address feedback gotten from publishers.
They offer similar performance benefits such as AMP components but provide much more flexibility and can be combined with any other library or framework.
The AMP project’s goal has been to help developers produce great user-first experiences. AMP’s high performance and user-centric components are key in this value proposition.
With Bento users can now enjoy these high-performance web components formerly restricted to AMP. Developers can now leverage Bento components for one-off instances like adding a carousel to a non-AMP page.
Bento components are also beneficial to developers on the AMP network who are interested in incrementally converting a page to a valid AMP.
AMP, an ERC-20 token, is on a mission to solve two significant issues in the crypto space; the problem of high gas fees involving Ethereum and transaction speed when using Bitcoin.
With AMP, having your transactions process with lightning-fast speed is advantageous. As AMP continues to build up use cases, the right time to buy AMP is now.
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