Why is Amp (AMP) Moving Today?

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

AMP is one of the more promising altcoins on the market, and it’s making big moves. In the last 24 hours, AMP is up over 15%. Continue reading to learn what AMP is, why it’s moving, and how to invest today.

What is AMP?

Amp is a top 50 cryptocurrency with a market capitalization of over $2 billion. The cryptocurrency is used as collateral for stablecoin payments. The coin offers verifiable assurances for payment transfers, making it easy for users to send peer to peer transactions.

Amp (AMP) is Up 15% in 24 Hours

While AMP is up 15% today, it’s still down from its all-time highs. AMP hit its all-time high around the same time as the rest of the cryptocurrency market, surpassing 10 cents for a short period of time.

The AMP token is currently trading at 5 cents, down about 50% from its peak. While this may make new cryptocurrency investors uneasy, volatility is simply part of the cryptocurrency markets. For investors with a long-term outlook, now may be a good time to accumulate AMP while the market is down.

Why is AMP Moving?

Flexa Network is the blockchain that works with AMP token. Flexa collaborates with Gemini, which has made tons of new investors exposed to AMP. While it’s hard to pinpoint why AMP is moving exactly, it’s probably a combination of news and technicals.

Altcoins are high-risk investments, and most cryptocurrencies move in the same direction as Bitcoin. Sure, it’s great to see a 15% move in a single day, AMP is still down over the past few months. With such a large direction to the upside, however, this may represent a change in market sentiment for AMP.

Where to Buy AMP

As a relatively large market cap cryptocurrency, plenty of crypto exchanges support AMP for trading. Some of the most popular exchanges that support AMP are Coinbase, Crypto.com and Gemini. While all 3 of these exchanges are secure and offer significant liquidity for traders, they offer distinct features for their investors.

Coinbase has a unique program, Coinbase Earn, that lets you earn free crypto for simply learning about blockchain technology. Gemini is another great option, especially if you’re in crypto for the long-term. Gemini offers plenty of options for earning interest on your crypto positions, making it easy to accumulate more coins.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.