Hope everyone is doing well.
Edit: This coin has dumped heavily in the past week. Seed investors had their tokens unlocked recently (my thesis is they dumped). Likely they will be accumulating more at lower levels.
That being said…..I cannot recommend retail investors to buy this token with such violent price swings. Do your own research. I won’t take down this post in the face of the recent dump as I want to remain as transparent as possible with you guys.
Usual disclaimer: This is not financial advice, always do your own research before investing in crypto. This article represent my opinion. Do your own research.
If you are involved in the crypto markets then obviously you know that alt coins are rallying.
Meanwhile BTC Dominance appears to be heading lower…..
Interesting day today….DXY and stocks fell lower while crypto caught a bid. This seems to go against what the trend has been.
Plan B seems to think that if the S&P moves higher BTC (and alts as well) we will see fireworks.
But macro observations aside I wanted to share with you guys an altcoin project I am looking at and have been reading about.
Now upon delving into this project it is hard to discern exactly how the token works. But after watching a few videos and reading their website it appears that this a project that is uncorrelated with the rest of the crypto market as a whole.
It is also unique in that its supply is elastic.
As price (demand) increases supply goes up.
As price (demand) decreases supply decreases.
Here are a couple videos to help you understand the project better:
Current Coin Marketcap Info on AMPL:
“Ampleforth describes itself as smart commodity money. It is chain-agnostic and reportedly less-correlated to Bitcoin and other digital assets.”
Now what you should know is that the this coin dumped yesterday. It was $3.97 on July 12, 2020.
Now I am sure many holders of AMPL got spooked by the dump and panic sold their holdings.
But this clicked in my head just last night….
Holding AMPL is not a speculation on the price of each token, but rather its market cap.
If you listened to some of the videos above, the goal of AMPL is to achieve a target price of $1.
One of the unique features of AMPL is a process known as rebasing. AMPL rebases every 24 hours.
So what is the potential of AMPL?
Do I see AMPL overtaking BTC or ETH….no.
However, I could see it competing with a Tether as a means of adding stability/diversification to the crypto ecosystem.
The current market cap of Tether: $9,979,001,356
The current market cap of AMPL: $254,948,391
That’s a ton of growth left.
Just wanted to share this with you guys….
Do what you will with this information. Could AMPL flop and fail to stabilize….sure.
But if market cap continues to rise in the coming months keep an eye on this one.
Disclaimer: I have opened a small position in AMPL.