Ampleforth (AMPL) Cryptocurrency Market Data and Information

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Ampleforth (AMPL) Trust Score

Crypto Center's Ampleforth (AMPL) Trust Score

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Ampleforth (AMPL) Bull/Bear Trend Strength

7 Day Market Momentum

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Ampleforth (AMPL) Latest Market Data

Current Values

  • Current Price: $1.1800
  • 24h Trading Volume: $442,142
  • Market Cap: $27,045,497
  • 24h Market Cap Change: ▼($234,677)
  • Fully Diluted Valuation: $29,150,784

Price Changes

  • 24 Hour Price Change: ▼ 0.93%
  • 7 Day Price Change: ▼ 0.63%
  • 30 Day Price Change: ▼ 1.44%
  • 60 Day Price Change: ▼ 14.67%
  • 1 Year Price Change: ▲26.49%

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Ampleforth (AMPL) 30 Day Open, High, Low, Close Chart

What is Ampleforth (AMPL)?

Ampleforth (AMPL) is a digital asset protocol designed to function as a smart commodity money within the decentralized finance (DeFi) space. Its core innovation lies in its elastic supply, a mechanism that automatically adjusts the token supply based on market demand. Unlike traditional cryptocurrencies with a fixed or gradually decreasing supply, AMPL’s supply expands or contracts in response to price deviations from its target price of approximately 1 USD, adjusted for inflation since 2019. This unique characteristic aims to create a unit of account that’s less susceptible to the volatility often associated with other digital assets like Bitcoin or Ethereum. By separating the role of a unit of account from the role of a store of value, Ampleforth seeks to provide a more stable and predictable foundation for on-chain financial activities. The vision of the project is to foster a resilient digital monetary system by offering a suite of modular and interoperable components.

Ampleforth sets itself apart by operating as a fully decentralized and algorithmic system, free from the control of centralized custodians or entities. The AMPL token serves as the cornerstone of the Ampleforth ecosystem. The unique elastic supply mechanism automatically increases or decreases the number of tokens held by each user daily. This adjustment process, known as a “rebase,” occurs proportionally across all wallets, aiming to bring the price back into alignment with the target value over time. This automatic adjustment is driven by an algorithm, eliminating the need for manual intervention or collateralization, further enhancing its decentralized nature.

How Does Ampleforth (AMPL) Work?

The mechanism that governs Ampleforth’s elastic supply is the core of its functionality. This is how it works: every 24 hours, the Ampleforth protocol evaluates the market price of AMPL. If the price is above the target price (approximately the 2019 USD adjusted for inflation), the protocol increases the total supply of AMPL. Conversely, if the price is below the target price, the protocol decreases the total supply. This change in supply is distributed proportionally to all holders of AMPL, meaning that the number of tokens in each wallet increases or decreases accordingly.

This process, known as a “rebase,” is fully automated and driven by an algorithm. The rebase mechanism aims to nudge the price of AMPL back towards its target over time. It’s important to understand that the rebase doesn’t directly manipulate the price, but rather influences it by altering the supply. A positive rebase (supply increase) creates selling pressure, while a negative rebase (supply decrease) creates buying pressure. The magnitude of the supply change is determined by the difference between the current price and the target price. The larger the deviation, the more significant the supply adjustment. The key goal is to enable a stable unit of account without depending on external collateral or custodial services. This novel approach to price stabilization is intended to make AMPL a more predictable and reliable base for decentralized financial instruments.

Ampleforth (AMPL) Key Features and Technology

The key features and underlying technology of Ampleforth revolve around its elastic supply protocol and its commitment to decentralization. Several aspects make it unique in the cryptocurrency space:

* **Elastic Supply:** This is the defining feature of Ampleforth. As explained previously, the supply of AMPL automatically adjusts based on market conditions, aiming for a stable unit of account.

* **Decentralization:** Ampleforth is designed to be a fully decentralized system. The rebase mechanism is governed by an algorithm, eliminating the need for intermediaries or centralized control. The FORTH DAO also plays a key role in managing and overseeing the protocol’s development through community governance.

* **Algorithmic Rebase:** The rebase mechanism is automated and driven by an algorithm. The algorithm dynamically adjusts the supply based on price deviations, ensuring the protocol responds appropriately to market conditions.

* **ERC-20 Token:** AMPL is an ERC-20 token, built on the Ethereum blockchain. This ensures compatibility with a wide range of wallets, exchanges, and other DeFi applications.

* **FORTH Governance Token:** The FORTH token is the governance token for the Ampleforth protocol. FORTH holders can propose and vote on changes to the protocol, ensuring that the community has a say in its future development.

* **Modular Design:** Ampleforth is designed with a modular architecture, allowing for the integration of other interoperable components and expanding the functionality of the system.

* **SPOT Inflation-Resistant Token:** SPOT is an inflation-resistant token backed by AMPL-based derivatives, designed to provide users with protection against inflation.

These features combined enable Ampleforth to function as a foundational building block for decentralized financial instruments, providing a stable unit of account for on-chain lending, borrowing, and derivative creation, without relying on traditional custodial risks or interventionist monetary policies.

What is Ampleforth (AMPL) Used For?

Ampleforth is designed to be a foundational asset for various decentralized finance (DeFi) applications, aiming to provide a more stable and predictable unit of account compared to volatile cryptocurrencies like Bitcoin or Ether. Here are some key use cases:

* **Decentralized Lending and Borrowing:** The elastic supply mechanism can allow more predictable repayment terms. Since AMPL aims to remain stable around the 2019 USD (adjusted for inflation), borrowers can repay loans with less exposure to the volatility often associated with other crypto assets.

* **Creation of On-Chain Derivatives:** The price fluctuations of AMPL due to the rebase mechanism can be used to create complex financial products, such as senior and junior derivative tokens, without reliance on traditional price oracles.

* **Collateral for Decentralized Stablecoins:** Derivatives of AMPL can be used as collateral to issue decentralized stablecoins that do not rely on centralized assets. This removes custodial and counterparty risk.

* **Value Transfer:** AMPL can serve as a medium for transferring value with a stable long-term purchasing power. The goal is for it to be particularly useful in situations where the use of price oracles is costly or creates security risks.

* **Denomination of Stable Contracts:** AMPL is designed to denominate stable contracts on-chain in a decentralized way, supporting a range of decentralised use cases.

By acting as a stable unit of account, AMPL seeks to unlock new possibilities within the DeFi space, fostering a more robust and reliable ecosystem for decentralized financial applications.

How Do You Buy Ampleforth (AMPL)?

Purchasing Ampleforth (AMPL) involves a process similar to acquiring other cryptocurrencies. However, because AMPL is not as widely listed as some of the more established coins, the available options may be more limited. Generally, you’ll need to use a cryptocurrency exchange that supports the trading of AMPL.

The first step is to find an exchange that lists AMPL. Some of the more common exchanges where you can find AMPL include:

* **Centralized Exchanges (CEXs):** Kraken, KuCoin. Look for trading pairs like AMPL/USD, AMPL/USDT, or AMPL/BTC.
* **Decentralized Exchanges (DEXs):** Uniswap, Sushiswap. This typically involves using a Web3 wallet (like MetaMask or Trust Wallet) to connect to the DEX and swap other cryptocurrencies (like ETH or USDT) for AMPL.

**Steps to Buy AMPL:**

1. **Choose an Exchange:** Research and select a reputable exchange that lists AMPL. Consider factors like trading volume, security, fees, and user interface.
2. **Create an Account:** Register for an account on the chosen exchange and complete any required identity verification (KYC) procedures.
3. **Deposit Funds:** Deposit funds into your exchange account. This usually involves transferring cryptocurrency (like Bitcoin or Ethereum) from another wallet or buying cryptocurrency with fiat currency (like USD or EUR).
4. **Purchase AMPL:** Once your account is funded, navigate to the AMPL trading pair and place an order to buy AMPL. You can typically choose between a market order (executed immediately at the current price) or a limit order (executed only when the price reaches a specific level).
5. **Withdraw AMPL (Optional):** After purchasing AMPL, you can choose to leave it on the exchange or withdraw it to a personal cryptocurrency wallet for safer storage.

Remember to exercise caution when choosing an exchange and always prioritize security best practices, such as enabling two-factor authentication (2FA).

How Do You Store Ampleforth (AMPL)?

Storing Ampleforth (AMPL) is similar to storing other ERC-20 tokens, which are based on the Ethereum blockchain. Since AMPL is an ERC-20 token, it can be stored in any wallet that supports the Ethereum network. Here are several options for storing AMPL, categorized by wallet type:

* **Hardware Wallets:** These are physical devices that store your private keys offline, providing a high level of security. Popular options include:
* Ledger Nano S/X
* Trezor Model T

* **Software Wallets:** These are applications that you can install on your computer or smartphone to manage your cryptocurrency.
* **Desktop Wallets:** Exodus, Atomic Wallet
* **Mobile Wallets:** Trust Wallet, MetaMask Mobile
* **Web Wallets:** MyEtherWallet (MEW), MetaMask (browser extension)

* **Exchange Wallets:** While it’s generally not recommended to store large amounts of cryptocurrency on an exchange, it is an option for short-term storage or if you are actively trading.
* This is the least secure option, so only use it for small amounts that you are actively trading.

**Considerations When Choosing a Wallet:**

* **Security:** Hardware wallets offer the best security because they store your private keys offline. Software wallets are convenient but less secure, so be sure to use strong passwords and enable two-factor authentication.
* **Convenience:** Web and mobile wallets are the most convenient options for accessing your AMPL on the go.
* **Control:** Hardware and software wallets give you full control over your private keys, while exchange wallets are custodial, meaning the exchange controls your keys.

No matter which type of wallet you choose, it’s essential to back up your seed phrase or private keys securely. This will allow you to recover your AMPL if your wallet is lost, stolen, or damaged.

Future Outlook and Analysis for Ampleforth (AMPL)

The future outlook for Ampleforth (AMPL) is multifaceted and depends on its adoption as a foundational element within the decentralized finance (DeFi) landscape. Its unique elastic supply mechanism, designed to stabilize the unit of account, presents both opportunities and challenges. If DeFi continues to grow and mature, there is potential for AMPL to become a crucial building block for on-chain lending, borrowing, and derivative creation. Its algorithmic approach to price stabilization offers a novel alternative to traditional stablecoins, which often rely on centralized collateral or custodial solutions.

However, the success of AMPL hinges on several factors. User adoption is paramount. If AMPL fails to gain traction as a preferred unit of account or collateral asset, its utility will remain limited. The inherent complexity of the rebase mechanism can also be a barrier to entry for some users, as understanding how the supply adjustments affect their holdings requires a certain level of technical understanding. Furthermore, AMPL faces competition from other stablecoins and DeFi protocols. To thrive, it must demonstrate a clear advantage in terms of stability, security, and decentralization. The ability of the FORTH DAO to effectively manage the protocol’s evolution and adapt to changing market conditions will also be crucial in determining its long-term success. Overall, while Ampleforth presents an innovative approach to addressing the volatility challenges within DeFi, its future hinges on its ability to gain widespread adoption and establish itself as a reliable and valuable component of the decentralized financial ecosystem.

References

* CoinGecko: https://www.coingecko.com
* CoinDesk: https://www.coindesk.com