Crypto Whale Spotted | $378,820,350 USD worth of $AMP Transferred from Unknown to Unknown
(Photo : Image from Unsplash Website) Crypto Whale Spotted | $378,820,350 USD worth of $AMP Transferred from Unknown to Unknown

Just recently, a crypto whale was spotted as 417,608,900 $AMP was spotted transferring from unknown address to unknown address! The massive transfer was reportedly worth $378,820,350! The big question is, could $AMP be a new pick for whales and should investors look towards this cryptocurrency?

Everything About $AMP

As of the moment of this writing, $AMP is reportedly worth $0.06622 as seen on CoinMarketCap and currently has a market cap of around $2.7 Billion going $2.8 Billion USD. The circulating supply for this is currently at 42.23 billion $AMP which is about 46%.

As of the moment, the total supply for $AMP is around 99,213,408,535 while the max supply is at 92,547,638,199. The coin was launched on September 11, 2020, at the price of $0.009559, and its all-time high reached $0.1211 on June 16, 2021! The all-time low was on November 17, 2020, when the value of $AMP reached 0.0007946.

As of the moment, trading $AMP can be done on the following:

$AMP is reportedly described as a new digital collateral token which offers instant, verifiable assurance for users of value transfer. Through $AMP, networks just like Flexa are able to quickly and irreversibly secure transactions for a number of asset-related cases.

$AMP also claims to offer its users a more straightforward but also versatile interface in order to conduct verifiable collateralization through a system of different collateral partitions as well as collateral managers.

Functions of $AMP include:

  • Where collateral partitions can be designed in order to collateralize any particular account, application or transaction.
  • Can carry balances which are then directly verifiable on the official Ethereum blockchain.

Collateral managers are reportedly smart contracts which can lock, release, and also redirect collateral in these different partitions as needed in order to help support value transfer activities. 

$AMP also supports a number of different use cases for collateralization which includes the concept of predefined partition strategies. These predefined partition strategies can enable special capabilities like collateral models through which tokens can also be staked even without ever leaving the original addresses.

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$AMP Cryptocurrency

According to the official $AMP website, the cryptocurrency can also be staked in order to earn interest for holding through the Flexa network. As of the moment, it is still unclear as to the intentions of the crypto whale transferring a large amount of $AMP from Unknown to Unknown address.

For those that are thinking that the top 10 cryptocurrencies do not really provide that much of an aggressive growth while NFT coins are moving too slow compared to what some traders and investors might want, there are altcoins that could fetch significant profits. Of course, it is always important for investors and traders to DYOR or do your own research before investing. Yield farming is also a feasible way to potentially earn passive crypto.

Related Article: Google Cracks Down on 8 Fake Crypto Apps | Bitfunds, Crypto Holic, and More

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Written by Urian B.

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