Will Alchemy Pay Price Rally 450% As Launch of Layer-1 Blockchain Nears?

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As a seasoned analyst with years of experience navigating the ever-evolving crypto market, I find Alchemy Pay’s move towards launching their own blockchain, Alchemy Chain, particularly intriguing. The focus on streamlining fiat and cryptocurrency integration resonates strongly with the industry’s current trend towards bridging traditional finance and digital assets.

Crypto payment provider Alchemy Pay has announced its upcoming layer-1 blockchain, Alchemy Chain, a move aimed at streamlining fiat and cryptocurrency integration. Built on a Solana Virtual Machine (SVM) architecture, the new blockchain is expected to support Alchemy Pay’s payment ecosystem by offering scalable infrastructure for high transaction volumes. 

This advancement has sparked increased curiosity about Alchemy Pay’s native token, ACH. This token is intended to be used for paying gas fees within the network.

Alchemy Chain Role In Fiat & Crypto Payment 

Alchemy Chain aims to seamlessly connect conventional and digital money transactions, in line with Alchemy Pay’s mission to link the worlds of traditional banking and modern cryptocurrency.

The upcoming blockchain employs a reliable Proof-of-Authority system (TPoA) to bolster security and expedite transactions. It also accepts both Automated Clearing House (ACH) and traditional currency transactions for gas fees, providing users with greater control over their transaction expenses.

The company announced that users have the flexibility to pay gas fees and execute transactions using either ACH or fiat currency. Additionally, they can smoothly convert their on-chain profits and earnings into traditional money, the company said.

The two-tiered payment system stands out as an attractive trait for a wider audience, particularly businesses dealing with both traditional money (fiat) and cryptocurrency.

Developer Tools and Support for Memecoin Projects

Beyond the fundamental features of Alchemy Chain, Alchemy Pay is set to introduce tools aimed at assisting developers and memecoin initiatives. Among these tools are a “Meme Token Launchpad,” enabling creators to effortlessly release meme-themed tokens, and a “Meme Telegram Bot” offering an intuitive interface for user engagement within the Alchemy ecosystem.

Supporting the meme coin market is a tactical step taken by the company to draw in developers and capitalize on the rising interest in decentralized tokens driven by communities.

The integration of these developer tools demonstrates Alchemy Pay’s dedication to creating a broad ecosystem tailored for various initiatives. By making it easier for meme projects to join, Alchemy Chain aspires to attract more interaction and creativity within its system.

Following the release of the announcement, there has been a significant rise in transactions related to ACH derivatives. The volume of these derivatives experienced a staggering 482.83% growth, reaching an impressive $60.61 million. This substantial increase suggests a growing enthusiasm among traders for ACH futures and options. The surge in activity demonstrates strong trader engagement as they anticipate and bet on the price fluctuations of ACH.

Additionally, the open interest for ACH derivative contracts increased by 44.52%, amounting to a total of $10.70 million that remains unsettled.

Alchemy Pay Price Surges Over 7%

After the recent Alchemy Chain announcement, the price of the ACH token by Alchemy Pay has picked up speed. As per crypto expert CryptoBull_360’s analysis, the ACH token saw a 13% increase following a test of a crucial horizontal support at approximately $0.0085.

According to CryptoBull_360, this level has frequently functioned as a robust foundation for ACH, suggesting that when the price drops close to or reaches this point, there is significant buying activity taking place.

Following a rebound from its underlying level, ACH has seen a surge to around $0.0097, indicating heightened market interest as trading volume increases. If this bullish trend continues, significant resistance levels may be encountered at $0.01 and $0.0115, potentially paving the way for additional growth. CryptoBull_360 noted that if the current buying spree persists, the price might reach as high as $0.0120 or even beyond, contingent on market conditions and sustained volume support.

According to crypto analyst Javon Marks, the cryptocurrency ACH has just burst free from its Falling Wedge pattern, suggesting a potential surge in bullish energy might be on the horizon. If this positive trajectory persists as some experts predict, ACH could experience a significant increase of approximately 450%, potentially reaching a price level around $0.11087.

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2024-10-28 23:34