Why is Alchemy Pay (ACH) crypto soaring today?

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Why is Alchemy Pay (ACH) crypto soaring today?

ACH crypto
Image source: © Esserdavid | Megapixl.com

Highlights

  • As per the whitepaper, Alchemy Pay was built to fill the gap between the fiat and crypto worlds.
  • The ACH crypto is the native token of Alchemy Pay, and it is an ERC-20 token.
  • Alchemy Pay integrates technology and traditional finance to drive mainstream adoption of cryptocurrencies.

The price and volume of Alchemy Pay (ACH) crypto have been rising in the past day as the cryptocurrency market recorded a slight gain worldwide. In the last 24 hours, the global crypto market cap surged 0.4% to US$ 1.27 trillion.

At the time of writing, Bitcoin's dominance had increased by 0.4% to 44.69 per cent. It was trading at US$ 29,750.58 per token after 1.4 per cent over the previous day, according to CoinMarketCap data.

The price of ACH crypto was up by 12.3 per cent over the previous day to US$ 0.02435 per token. Meanwhile, the volume of Alchemy Pay soared over 227% to US$ 190.6 million at 3 AM EST.

What is Alchemy Pay?

As per the whitepaper, Alchemy Pay was built to fill the gap between the fiat and crypto worlds. It was founded in Singapore in 2018 as a payment solutions provider.

The network connects fiat and crypto economies for institutions, developers, global consumers, and merchants. According to CoinMarketCap, Alchemy Pay is supported in more than 70 countries and has touchpoints with over two million merchants through partnerships with QFPay, Binance, and Shopify.

Also Read: What is LockPay and is it a pump and dump scheme?

The ACH crypto is the native token of Alchemy Pay, and it is an ERC-20 token. The network was designed to promote the adoption of cryptocurrencies and support the virtual currency's mission to provide financial freedom.

Alchemy Pay integrates technology and traditional finance to drive mainstream adoption of cryptocurrencies. The ACH crypto is listed on cryptocurrency exchanges like DigiFinex, Binance, Bybit, and Hotcoin Global.

ACH crypto

Bottom line

The ACH crypto could be gaining investors' attention as Alchemy Pay announced on Twitter that it has partnered with Binance to enable Binance Pay crypto payments for Instpower, allowing users to rent a power bank.

The facility of crypto payments will be available at 14,000 locations in countries like Austria, Canada, Mexico, Japan, and Germany.

The total supply of the ACH crypto is 10 billion, and the circulating supply is 4.49 billion. Notably, the cryptocurrency market is going through tough times as the global market cap has declined massively from the US$ 2 trillion mark.

Investing in cryptocurrencies is risky, and it is important to assess the risk capacity before trying to earn profit from the virtual currencies.

Also Read: What is AgeOfGods (AOG) crypto and why its volume soared 1200%?

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