Major cryptocurrencies were in the green on Monday night with Bitcoin (BTC) trading above the $40,000 level, but the top gainer at press time was the digital collateral token Amp (AMP).
What Happened: BTC traded 3.44% higher at $40,385.36 over 24 hours at press time. BTC was up 20.11% over a seven-day trailing period.
Ethereum (ETH) traded 3.99% higher at $2,597.95 at press time, while Dogecoin (DOGE) traded 1.03% higher at $0.33.
Self-styled Dogecoin-killer Shiba Inu (SHIB) traded 3.27% higher at $0.000007072 at press time.
See Also: How to Buy Shiba Inu (SHIB)
While Dog-themed coins did not see spectacular gains, the action moved a number of blockchain projects.
AMP traded 31.3% higher at $0.079 over 24 hours leading up to press time. The cryptocurrency has shot up 88.45% over seven days.
AMP rose 26.88% and 25.64% against BTC and ETH respectively in 24 hours. Polkadot (DOT) was up 16.3% at $25.43 at press time in a similar time frame.
Other gainers on Monday night on a 24-hour basis included Fantom (FTM), up 9.66% at $0.306, and Chainlink (LINK), which traded 9.13% higher at $25.39.
Why It Matters: AMP claims to decentralize the risk of asset transfer and guarantee multiple types of value exchanges such as digital payments, fiat currency exchange, or property sales.
Amp can collateralize any type of asset transfer, whether digital or physical. Today, $AMP is providing the collateral for instant, fraud-proof transactions made using more than 25 different digital assets. #Amp101 pic.twitter.com/v5Dzfg4F5B
— Amp (@amptoken) June 7, 2021
AMP has soared 1,107.03% since the year began. The cryptocurrency was listed on Coinbase Global Inc’s COIN Pro platform last week.
Tesla Inc TSLA CEO Elon Musk clarified the conditions Sunday night under which the automaker would resume BTC payments.
Other factors adding to Bitcoin’s upward momentum include positive on-chain signals and the cryptocurrency achieving support for the Taproot soft fork.
On Monday, Coinbase Pro announced it would be listing DOT beginning Wednesday. Inbound transfers have already commenced in regions where such trading will be supported.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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