On July 20, 2022, the native token of the Alchemy Pay ecosystem, ACH, surged 43% in just 24 hours, making it the biggest gainer in the cryptocurrency market that day. The token also entered the top 10 most searched assets on platforms such as CoinGecko and CoinMarketCap for two consecutive weeks. In a rare move for a project of its size, Binance enabled margin trading for ACH, further fueling market interest.
Multiple Exchange Listings and Staking Rewards
ACH was recently listed on several leading exchanges, including Binance US, Crypto.com, KuCoin, and Kraken, significantly improving its liquidity and accessibility. Beyond spot trading, both Binance and KuCoin launched staking services for ACH, offering attractive yields to long-term holders and boosting buying pressure.
Community Growth and Ecosystem Partnerships
Alchemy Pay's online community has doubled in less than 12 months, now reaching approximately 200,000 members. The project has forged partnerships with major Layer-1 blockchains, including Avalanche, Polygon, VeChain, Algorand, and Binance, strengthening its position in the payment infrastructure space. Although the broader market downturn since November 2021 had suppressed ACH's price, these developments position the token to outperform during bullish periods.
Fiat On- and Off-Ramp Solutions
Based in Singapore, Alchemy Pay addresses one of the biggest barriers to crypto adoption with its fiat-to-crypto on/off-ramp plugins. These plugins allow users to purchase cryptocurrencies directly using debit/credit cards, local mobile wallets, and bank transfers. They also enable off-ramping by sending funds to any Mastercard or Visa card globally, as well as bank accounts in over 50 local currencies. The solution is being widely integrated into Web3 platforms such as blockchain games, NFT marketplaces, metaverses, SocialFi, and DeFi, solving the critical fiat onboarding problem for emerging projects.
Token Information and Cross-Chain Deployment
ACH was originally issued as an ERC-20 token on Ethereum. Since January 2022, it has also been available on the Binance Smart Chain as a BEP-20 token, expanding its use cases across DeFi protocols and exchanges. With continued exchange listings and ecosystem integrations, ACH's liquidity and utility are growing rapidly.
In summary, the sudden price surge of ACH is the result of a combination of exchange expansion, strategic partnerships, and real-world utility. As the crypto payment sector heats up, Alchemy Pay's role as a fiat bridge could drive long-term value, though investors should conduct their own due diligence.