In July 2022, the cryptocurrency market experienced a modest rebound, and Alchemy Pay (ACH) emerged as one of the standout performers. According to a report from CryptoComLearn, ACH surged 43% in just 24 hours on July 20, making it the largest gainer across the crypto sector. Over the following two weeks, the token entered the top 10 most-searched assets on major data aggregators including CoinGecko and CoinMarketcap, drawing significant attention from traders and investors alike.
Exchange Listings Drive Liquidity and Demand
A key catalyst behind the impressive price action is the series of new exchange listings secured by Alchemy Pay. Beyond its previous availability on top-tier platforms such as Binance, Crypto.com (both website and mobile app), KuCoin, and Kraken, ACH was recently listed on Binance US. More importantly, both Binance and KuCoin enabled staking for ACH, allowing long-term holders to earn generous yields and effectively reducing the circulating token supply. Additionally, Binance added ACH margin trading — an unusual privilege for a project of Alchemy Pay’s market cap, signaling growing confidence from the exchange.
Community Growth and Strategic Partnerships
On the fundamental side, Alchemy Pay’s online community has doubled in size over the past 12 months, currently standing at approximately 200,000 members. This rapid growth underscores the project’s increasing appeal. Furthermore, Alchemy Pay has forged partnerships with many of the largest Layer-1 blockchains, including Avalanche, Polygon, VeChain, Algorand, and Binance Chain. These collaborations not only extend the utility of the ACH token but also expand the reach of Alchemy Pay’s fiat on/off-ramp solutions into diverse ecosystems.
Fiat On/Off-Ramp Plugins: Bridging Web3 and Traditional Finance
Another major driver of market enthusiasm is the widespread integration of Alchemy Pay’s fiat on/off-ramp plugins. For many emerging platforms in blockchain gaming, NFTs, metaverses, SocialFi, and DeFi, the ability to allow users to purchase cryptocurrencies with their local fiat currency has been a persistent barrier to mass adoption. Alchemy Pay’s ramp plugins solve this by providing a simple and direct way to buy crypto using debit and credit cards, local mobile wallets, and bank transfers. On the off-ramp side, funds can be remitted to any Mastercard or Visa card globally, as well as bank accounts in over 50 local currencies. This bidirectional fiat gateway significantly lowers the entry friction for newcomers, making the plugin highly sought after by Web3 platforms.
Deep Integration with Binance Pay and Crypto.com Pay
Alchemy Pay has also partnered with Binance Pay and Crypto.com Pay, becoming one of their official payment partners. Through these integrations, users can spend their cryptocurrency balances for real-world payments both in-store and online, effectively linking digital assets with everyday commerce. This capability strengthens the value proposition of the ACH token and enhances its role in facilitating mass adoption of crypto payments.
Technical Foundation: Dual-Chain Deployment
ACH currently exists as an ERC20 token on Ethereum. Since January 2022, it has also been available as a BEP20 token on Binance Smart Chain. The dual-chain deployment offers lower transaction fees and faster confirmation times, further increasing the token’s usability across different DeFi and dApp ecosystems.
In summary, Alchemy Pay has leveraged exchange listings, community growth, extensive partnerships, and practical fiat ramp solutions to stand out in the July 2022 market rally. While the broader downtrend that began in November 2021 has kept prices under pressure for months, the project’s fundamental advancements position it for potential outperformance when market sentiment shifts bullish again.