AMP (AMP), a decentralized collateral token, has soared 786% since the year began and was trading over 13% higher around midnight Thursday.
What Happened: AMP traded 13.63% higher at $0.575 at press time in a 24-hour period after Coinbase Global Inc (NASDAQ:COIN) said it would list the cryptocurrency on its Pro platform. The token has shot up 49.64% in a seven-day trailing period.
See Also: How to Buy Amp (AMP)
However, AMP has fallen 25.64% against an all-time high of $0.774 which it touched on May 7.
Against Bitcoin (BTC) and Ethereum (ETH), the cryptocurrency traded higher by 1.31% and 9.18% respectively in a 24-hour period.
BTC traded 13.55% higher at $37,201.76, while ETH traded 5.57% higher at $2,575.02 at press time in a 24-hour window.
Why It Matters: On Wednesday, Coinbase said in an announcement that it would list AMP on its supported jurisdictions on its Pro platform. The coin will not be supported in Singapore.
The cryptocurrency trading platform said that AMP is not yet available on Coinbase.com or via consumer mobile applications.
AMP claims on its website that it effectively decentralizes the risk of asset transfer and any form of value exchange can be guaranteed through it whether it be digital payments, fiat currency exchange, or property sales.
Other coins that will be launched on Coinbase Pro include Gitcoin (GTC) and Enzyme (MLN).
GTC traded and MLN traded 1.02% and 11.14% lower at $9.99 and $109.06 respectively in 24-hours leading up to press time.