You may have noticed today that the cryptocurrency market looks like a bloodbath especially on the weekly performance stats except for stablecoins. However, there is one altcoin called AMP in the top 50 that stands out and is in the green.

AMP currently ranks 28^th on Coinmarketcap and is trading at $0.07967. Its performance is currently down by 3.55% in the last 24 hours but it has soared by 22.71% in the last 7 days. It stands out considering that most of the other cryptocurrencies in the top 50 have been bearish in the last 7 days and its performance is no coincidence.

Amp is the native coin on the Flexa project, which is determined to be the crypto project that brings crypto adoption to the mainstream by facilitating transactions. It particularly aims to help solve some of the problems that merchants encounter. Merchants have to pay hefty fees to card companies, roughly 3-4% of the value of each transaction. To put it into perspective, Walmart pays roughly $5 billion a year in payment processing costs. Card fraud is also a major problem that merchants and card users face. So, what if there was a more efficient approach that has cheaper processing fees and more security?

Flexa aims to facilitate easy crypto payments to merchants. There are crypto cards that customers can also use to achieve this approach but they are preloaded cards that first have to convert the cryptocurrency to fiat and store it in that form, which involves some charges and defeats the purpose of using cryptocurrencies in the first place. Flexa has an app called SPEDN which is designed to facilitate instant payments in stores with zero fees. The funds are converted to fiat when transferring to the merchant.

The process of using the SPEDN app is also relatively simple. Users can scan the code on Amp’s merchant terminal using the app and then the payment will be completed. The main challenge is rapidly deploying the system to merchants, but the good thing is that they do not need to invest in new hardware, making the process much easier. Amp’s adoption strategy is initially to aim for merchants that focus on essentials such as food, clothing, and entertainment in Canada and the U.S. So far more than 41,000 merchants accept payments through SPEDN.

Flexa designed its network to facilitate payments from any wallet, which means users have the option to use a variety of cryptocurrencies. The SPEDN app supports ETH, BTC, Zcash, Gemini Dollar, and Bitcoin Cash. Numerous apps have also added Flexa integration, such as ZenGo, Dharma, ShapeShift, CoinList, Coinme, and Celo Wallet.

Flexa uses end-to-end encryption in its protocol to facilitate security. The protocol is compliant with data protection regulations and focuses on minimal information requirements to facilitate transactions. It only takes about 1 second to complete a transaction and the APIs required to facilitate payments are straightforward.

The AMP token is an ERC20 token and it is listed on major exchanges such as Coinbase and Gemini. AMP offers temporary collateral during transactions, thus providing liquidity. This was a key reason for its partnership with Gemini. Collateralization offers an opportunity for investors to buy AMP and use it to provide collateral on Flexa’s network, through which they will earn rewards.

AMP’s performance before February 2021 was relatively docile but it has since then experienced bullish momentum. It traded as low as 0.006 on January 1 and is currently trading at $0.079. It has a circulating supply of 42.2 billion AMP tokens and a market cap of $3.79 billion. Its utility and rapidly growing adoption may fuel more investment, thus boosting its market cap and hence, its potential upside.