The past week or so, I have discussing AMPL quite a bit. Now, its time to shine some light on the sister coin to AMPL, FORTH. FORTH is the governance token for Amplforth and will be used as the gateway to voting on changes to the Amplforth network moving forward. There is also a growing expectation that FORTH will be able to be utilized in future staking and other features as well as Amplforth grows and develops.
Low Supply, Growing Demand
FORTH has a total supply of only 15 million coins, ever. Currently, there have been just under 7 million of those coins successfully minting and released. Currently sitting at a market cap of just north of $150 million USD, FORTH is actually still trailing AMPL by approximately $30 million USD.
FORTH has recently been making moves in the market with a nearly 25% move up yesterday before pulling back to support just above $19 USD per FORTH. This is observable in the graphic above.
Why I Have Been Buying FORTH
FORTH having only 6.8 million tokens currently circulating and a max supply of only 15 million ever positions FORTH to have a significant increase in value once Amplforth starts to take off. With just a $3 billion valuation, similar to the current value of the Algorand network, each FORTH token would rocket to a value of over $160 USD per token at a fully minted 15 million circulating FORTH tokens. That is a substantial increase from the current $20 USD it is sitting at now.
Additionally, institutional investors have been adding FORTH to their holdings. These are not small time investors either. Two of the biggest names currently holding FORTH are Brian Armstrong, the CEO of Coinbase and Huobi Capital, one of the world's largest cryptocurrency exchanges. Additional details of other investors in Amplforth and members of the Amplforth team can be found in this article by D3F1 here on Publish0x.
With an impressive list of investors and an even more impressive management team, Amplforth is setting up to be a future leader in the DeFi space as it continues to develop and grow moving forward.
This isn't financial advice. While I aim to provide my insight as accurately and bias-free as possible, please do your own due diligence before choosing to invest in anything, including FORTH.
