THE price of digital coin AMP has shot up since it was first created last year.
The cryptocurrency is now among the top 50 biggest in the world according to CoinMarketCap.
The AMP token was launched in September 2020 and is one of several coins built on the Ethereum blockchain.
AMP is a digital collateral token, which is said to offer quick and verifiable assurances for any kind of value transfer.
Investing in any cryptocurrency is risky business and you could end up losing all of your money.
You should only ever invest money that you can afford to lose and in financial products that you understand.
The price of cryptocurrencies are highly volatile and can go down as well as up in the blink of an eye.
Cryptocurrencies are not regulated and there is no consumer protection like you get with traditional savings an investments, so there’s no one to complain to if things go wrong.
The AMP coin is newer than more established cryptocurrencies like Bitcoin and Ethereum and so is even more risky.
What is the price of AMP?
The price of AMP is currently sitting at $0.0596 – up by 2.39% over the past 24 hours at the time of writing, according to CoinMarketCap.
AMP hit an all time high of $0.1211 back in mid-June and is down just over 50% from that record.
The crypto coin spiked in popularity after being listed on trading platform Coinbase in early June.
It means more people have access to buying and selling then token.
AMP price predictions for 2022
Myron Jobson, personal finance campaigner at interactive campaigner, told The Sun that making and price prediction for crypto is “nigh impossible”.
And it’s the same for Amp “because the marketplace is still relatively new and market trends and anomalies are yet to be fully understood” he added.
It’s impossible to know what will happen to the price of any cryptocurrency, but experts have made predictions.
AMP’s price could hit $0.1593 by the end of 2021, according to a prediction by website Coin Price Forecast.
Meanwhile, Wallet Investor has forecast that AMP’s price will reach $0.145 within the next 12 months.
Make sure you take these predictions with a pinch of salt though, as they’re nowhere near guaranteed.
The cryptocurrency market is affected by a number of factors, including regulatory crackdowns and comments by high-profile individuals.
Mr Jobson also warned that investors must consider increasing regulatory risk.
“The crypto market fell in June following a crackdown by China which banned financial institutions and payment companies from providing services related to cryptocurrency transactions and warned investors against speculative crypto trading.
“And the regulatory pressure is ramping up in the UK.
“The seemingly budding popularity of cryptocurrency has forced the Financial Conduct Authority to rightly issue a warning on the risks of investments advertising high returns based on cryptoassets.”
If AMP’s price drops you could lose all your money.