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AMP Hits a New All-Time High, Takes Rank 31 in CoinMarketCap

AMP Hits a New All-Time High, Takes Rank 31 in CoinMarketCap
  • AMP recently shot up by 20% and reached a new all-time high on June 11, 2021
  • The token now has a market capitalization of $3,529,299,131
  • At the time of writing, AMP is now rank 31 in coin information website CoinMarketCap

AMP token recently hit a new ATH a few days ago. On June 11, 2021, the token shot up by 20 percent, taking the rank 31 spot in coin information site CoinMarketCap. At press time, the token has a market capitalization of $3,529,299,131.

AMP dubs itself as a “digital collateral token.” According to their website, AMP is “designed to facilitate fast and efficient value transfer.” They underscored that AMP can especially be applied to use cases that prioritize security and irreversibility.

The token works as collateral. With this, AMP insures the value of any transfer while it remains unconfirmed. As blockchain confirmation is a process that can take potentially a very long time, Amp’s value proposition proves useful.

The AMP team also mentioned that “AMP tokens used as collateral are generally released when consensus for a particular transfer is achieved, making them available to collateralize another transfer.” Because of this, in any event, where the consensus is not achieved for the transfer, the losses will be covered by the liquidated AMP.

At the moment, AMP is listed in many prominent exchanges. It can be traded in Coinbase, Gemini, Poloniex, Bittrex, Gate.io, Sushiswap, and more.

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.