Ampleforth Not Stable Says Crypto Investment Firm

Ampleforth Not Stable Says Crypto Investment Firm

A token offered on IEO by Bitfinex earlier this year has been criticised in depth by a crypto investment firm, who raised serious questions about its stability.

The crypto investment firm in question, Maple Leaf Capital, expressed their concerns publicly via their twitter account, where they opened the critique saying by “it is anything but stable (faaaar from it, and may not be so even at scale). “

They went on to elaborate that its mechanics are intrinsically flawed which means stability cannot be guaranteed. Their main concerns revolve around the fact it is easy to manipulate due to its low volume and that the coin is not pegged, which many people many may not have realised at the time of purchase.  

They lambasted the AMPL token, stating “Liquidity driven expansions and contractions coupled with animal spirits + unsophisticated investor base is going to lead to extreme booms and busts in overall token value” Before using an analogy of a puppy the tweeter once owned as an analogy. “I myself is the 1 dollar, the puppy in this case the price of AMPL when I walk my puppy. It always rushes ahead of me, or lags behind me, but very rarely and briefly tags along me. Caveat Emptor.”

This is all in spite of a very successful IEO, where AMPL generated $4.9 million in sales within just 11 seconds.

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