AMP. Is this the start of a new death spiral?

Amp was recently delisted from binance.US over the SEC calling it a security after several Coinbase employees were accused of insider trading. I’m seeing some people over on the Amp subreddit say that they’ve recently gotten a CDC email stating that they are also going to delist Amp in the near future. [source](

Is this the beginning of the end? Or is this going to be the start of an XRP like saga for amp as a whole? Was wondering what you all think over here. Personally, I drank the AMP kool aid and am feeling mighty uncomfy. The amp team has been promising updates/partnerships for several months without any real delivery on hype (which I get, it’s bear time) but I’m considering dumping all of it now.

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44 thoughts on “AMP. Is this the start of a new death spiral?”

  1. I remember some dude here a year ago who was leveraging the shit out of his ETH stash to go heavy on AMP. He also promised to give away some free ETH if the leverage plan worked. Haven’t seen him around for a while…

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  2. AMP is …a very weird situation, unlike an L1 like ALGO, for the newer generations, it has a use, being collateral for failed transactions. But at the same time they tried to make it a smart platform which would wanna compete with L1’s but that is just not possible because of the way it was originally made

    Maybe it would be useful for Opensea? Like if BAYC or Angelblock fails to transfer they could use that AMP, but they strayed too far and tried too much. I feel like the value will be erroded away because of this

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  3. I think it’s too early to tell. Ripple has been through years of trouble with the SEC and is still going strong.

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  4. Oddly enough the price hasn’t really fallen (outside of parallel moves with the market) even after the binance.us and crypto.com delisting announcements. I was kind of expecting to wake up to -40%

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  5. There’s 25 billion tokens staked to the network. Until that number starts dropping significantly no need to panic

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  6. If you follow the Ripple lawsuit about the SEC making ridiculous claims about XRP, Ripple is slapping SEC cheeks left right top down and the case is at its very final stages. If Ripple wins, it can set a precedent for all other cryptos to battle against the corrupt government agency.

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  7. I don’t know if it’s a death spiral or not, but it’s definitely going to be tough for AMP. Once the SEC goes after you, you’re in deep trouble

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  8. You need deep pockets if the SEC decides to ~~attack~~ regulate your coin. Ripple does, and XRP has managed to do incredibly well (remaining in the top 10 and holding off its main competitor xlm) considering the obstacles as a result.

    I’m not sure AMP’s team can match it if the SEC decides to go after them. Best case is only a few delistings and the SEC doesn’t bother directly engaging them. Even then we are really going to see just how much people believe in it

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  9. I mean, why did you buy into AMP in the first place? You’re discussing partnerships and updates but only one of those matters at a fundamental level, if updates were required to begin with or they add on functionality.

    If you bought into solid fundamentals you shouldn’t be panicking this much to be honest. If not, then why even ask? Just dump it already lol

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  10. This makes sense, considering I just started putting some money back in AMP.

    Not big money like the rest of you whales, but still more than I want to lose

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  11. what if I put them on a cold storage wallet, if they are securities what does that mean exactly for a crypto? Where would I be able to cash them out one day?

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  12. I have no idea about a death spiral but things look really shitty for AMP, at least short term. I did some research on this project and liked the potential and bought some to DCA in over time just a couple weeks ago and I already sold all of it. And I have not sold any other of my positions. My reasons were two main ones: 1) The SEC claims (another possible XRP saga) and delistings from more than one major exchange (Binance and CDC) and 2) it seems very few people actually use FLEXA (limited partners) and therefore very little demand for AMP will be required, keeping prices low, and perhaps falling. I do still think the idea behind the project is very intriguing and perhaps it will do well down the road but I unfortunately did not feel comfortable enough to stay aboard with everything going on…..I might regret it at some point and wish you good luck with your investment….

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  13. Problem is AMP doesn’t have the capital to battle like XRP. So it’s going to suck for AMP holders.

    I bought AMP when it first landed on Coinbase, but dumped it after a few months when I realized it has no chance of competition with the big boys in the same market it’s in.

    Sad because it’s a solid project otherwise.

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  14. Condolences AMP holders . Eventually your holdings will become a BTC, ETH based portfolio and you will grow and prosper in the market but this is a decent learning experience to why speculative assets are such risks in hindsight. Godspeed mates .

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  15. I bought it at ATH last June, following the CB listing like a complete noob. Averaged down and dumped it in the Fall at break even. No tangible updates, sub is 100% hopium and “this is a long term hold.” With it being delisted and scrutinized by the SEC I would definitely cut my losses, if I was still holding any. Good luck to Spaulding explaining that “it’s actually asset-agnostic blablabla” to Gensler and Co.

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