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Wrapped Ampleforth Price (WAMPL)
$3.42
4.21%
Wrapped Ampleforth Price Chart (WAMPL/USD)
Last updated 22 Jun 2022, 09:10AM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|---|---|---|---|---|---|
| 1 |
 Coinbase Exchange |
WAMPL / USD | $4.96 | 0.20% | $12,261 | |
| 2 |
Coinbase Exchange |
WAMPL / USDT | $6.21 | 0.48% | $8,240 |
WAMPL Price Statistics
- Wrapped Ampleforth Price Now $3
- 24h Low / 24h High $3 / $4
- Trading Volume $51,742
- Market Cap Rank #1295
- Market Cap $3,093,487
- Volume / Market Cap 0.0167
-
All-Time High
$54 -93.71%
Nov 26, 2021 -
All-Time Low
$3 6.80%
Jun 18, 2022
Wrapped Ampleforth: A Closer Look at this Revolutionary Cryptocurrency
Introduction
Wrapped Ampleforth (WA) is an innovative cryptocurrency that has taken the digital finance world by storm. This article will explore the key features, benefits, and potential risks associated with this pioneering digital asset.
Understanding Wrapped Ampleforth
Wrapped Ampleforth is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It serves as a bridge between Ampleforth (AMPL), a unique protocol-driven cryptocurrency, and the wider Ethereum ecosystem.
AMPL is designed with an elastic supply mechanism that aims to maintain its value regardless of market conditions. As the price of AMPL fluctuates, the protocol automatically adjusts the supply of tokens held by each user.
However, Ampleforth had limited utility as it could not be easily traded on other platforms or used as collateral for borrowing in DeFi applications. This is where Wrapped Ampleforth comes in.
Benefits of Wrapped Ampleforth
By wrapping AMPL tokens into a standard ERC-20 token format, the creators of Wrapped Ampleforth have opened up a range of new possibilities for token holders. Here are some key benefits:
1. Improved Compatibility: Wrapped Ampleforth's ERC-20 format allows AMPL tokens to be seamlessly integrated with various Ethereum-based platforms and applications.
2. Enhanced Liquidity: Unlike its precursor, Wrapped Ampleforth can be easily traded on popular decentralized exchanges (DEXs), allowing for greater liquidity and trading opportunities.
3. Increased Utility: Wrapped Ampleforth can serve as collateral within the DeFi ecosystem, enabling users to lock their WA tokens to access loans or earn interest through lending protocols.
Potential Risks
While Wrapped Ampleforth has gained popularity, it is essential to consider the potential risks associated with investing and using this cryptocurrency. Some key risks include:
1. Volatility: Like AMPL, Wrapped Ampleforth's value can be highly volatile. Investors should be aware of the considerable price fluctuations and potential financial risks associated with holding this asset.
2. Smart Contract Risks: As a DeFi platform, Wrapped Ampleforth relies on smart contracts. These contracts are subject to vulnerabilities, including bugs, hacks, and potential exploits. Users must exercise caution and do thorough research before engaging with the platform.
Conclusion
Wrapped Ampleforth has emerged as a groundbreaking cryptocurrency that bridges the gap between the unique economic design of Ampleforth and the broader world of Ethereum-based DeFi. By providing compatibility, liquidity, and increased utility, WA unlocks new possibilities for AMPL token holders. However, it is crucial for users to comprehend the associated risks and make informed decisions when engaging with this innovative digital asset.