AMP Token Falls Nearly 30% Amid Bearish Crypto Market

Amp, an open-source, decentralized protocol, has an AMP token that is deployed on the Ethereum blockchain as an ERC-20 token. However, it is also available on Solana (SOL) and NEAR Protocol (NEAR). According to CoinMarketCap (CMC), at press time, there are more than 42 Billion $AMP in circulation, out of a maximum supply of approx 99.44 Billion coins.

As per CMC, in the last one year, there are nearly 55% of wallet addresses which hold $0 to $1K AMP tokens. Meanwhile, almost 41% of the addresses hold $1K to $100K of tokens. Notably, just 3% of the wallet addresses hold $100K of tokens.

AMP Token Price Analysis

At press time, AMP price today is trading at $0.002080 with a 24-hour trading volume of $8.52 Million. The token is up 2.67% in the last 24 hours while showing current CMC ranking at 200th position. Its current market cap is at $87.83 Million and showing nearly 100% growth in the last 24 hours.

The above chart shows one-month price performance of the token, with clear bearish performance. As from nearly one month ago, the majority of cryptocurrencies are showing bearish outlook, thus AMP also indicated downside performance.

The price of AMP was trading nearly at $0.002914 which now dropped down to its current trading price. However, the 7-days performance showed little upside price surge that further supported its 1-day performance.

Most Recent Updates of Crypto Market

At press time, the global crypto market cap is $1.07 Trillion along with a 0.14% increase over the last day. On the other hand, the total crypto market volume over the past 24 hours is $19.07 Billion, which makes a 44.28% decrease.

Moreover, the total volume in decentralized finance (DeFi) token is currently $1.3 Billion, that is nearly 6% of the total crypto market 24-hour volume. The volume of all stable coins is at $17.6 Billion, which is 92.31% of the total crypto market 24-hour volume. The dominance of Bitcoin (BTC) is currently 48.04%, an increase of 0.04% over the day.

As of now, two of the most-traded cryptocurrencies BTC and Ethereum (ETH) are trading above the range of $26K and $1.7K respectively. This further shows a good-sign for the crypto market that is once again trying to take an upsurge with bullish market sentiments.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing