Alchemy Pay Price Prediction: ACH Reaches $0.013 – Does Payment Utility Fuel the Rise?

Updated: 29 August 2023

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Alchemy Pay has exceeded $0.014 but has decreased by 1.56% in the last 24 hours. With the token’s monthly performance essentially being bearish, can its payment utility move it upwards once again?

Alchemy Drops 1.56%

CoinMarketCap shows that Alchemy’s pay has decreased by close to 1.56% in the last 24 hours alone. This drop has aggravated its weekly loss to 5% and monthly loss to nearly 30%.

At 6:30 a.m. EST, Alchemy was valued at $0.01314. There has been a 1.53% decline in its market capitalization, and its trading volume has increased by 7.18%. This increase, however, doesn’t indicate that there are more buyers. Instead, it shows that most are bearish about Alchemy pay and building a selling pressure.

However, despite the recent events, some are hoisting bullish flags, citing Binance bringing Bitcoin payments to Shopify via Alchemy Pay as the reason behind their support.

The current performance may be because of Bitcoin’s downturn, which has seen the world’s leading crypto struggling to move above its $26k resistance.

What is Alchemy Pay?

According to the official website, Alchemy Pay is a payment solution that connects fiat and crypto economies globally for merchants, consumers, and global institutions.

It is a “crucial payment support for Web 3 platforms, enabling users to buy and sell crypto from the app”.

The platform’s primary goal is to simplify onboarding online and offline merchants in the blockchain systems and make DeFi ecosystems more accessible.

Currently, this blockchain project is supported in over 170 countries. It also offers over 300 fiat payment channels and supports more than 50 fiat and all cryptocurrencies.

The platform also has nuanced services like the NFT checkout service.

Alchemy Pay Price History

Alchemy Pay was founded in 2018, but it wasn’t until 2020 that CoinMarketCap started tracking the token’s activity.

ACH went on its first and biggest bull run in August of 2021, lasting until January 2022. The ACH price reached $0.11 during this period.

Alchemy Pay All time price chart — Alchemy Pay All-time price chart

With the arrival of crypto winter, the token’s value dropped close to its all-time lows. It was not until February 2023 that Alchemy Pay got a second wind and reached $0.04. This, too, was short-lived, as the recent regulatory qualms and bearish macroeconomic activity have once again pushed the value of Alchemy Pay closer to its all-time lows.

What is the Reason Behind the Recent Drop

By all accounts, Alchemy Pay has been doing well on the development front. Only hours before writing this article, the payment solutions provider announced on X (formerly Twitter) that the Dragonfly Wallet has integrated Alchemy Pay’s On and Off-Ramp solution.

Developed by @EquityPay_Org, the Dragonfly wallet has integrated #AlchemyPay's On & Off-Ramp solution. With this integration, it enables users to seamlessly transfer between crypto and fiat without the need for complex and time-consuming processes.https://t.co/a3n5P9cY0A $ACH pic.twitter.com/kpYaafwIFs

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) August 29, 2023

The Alchemy Community on X also announced an airdrop on August 25th. However, the airdrop is for USDD.

🎉 Get ready for an exclusive airdrop event with @usddio! 🎉

🗓 Mark your calendar: 10:30 AM UTC, Aug 25 – 10:00 AM UTC, Sept 8

✅Complete all tasks to be qualified @taskonxyz 👉https://t.co/kmvG0pezv8

✅Quote this tweet with your screenshot of $USDD logo & Submit the QT… pic.twitter.com/qa8Q93aXPC

— Alchemy Pay Community (@AlchemyPayNews_) August 25, 2023

Due to these positive factors, more extensive macroeconomic activities are likely responsible for Alchemy Pay’s current price. But can it move up?

Alchemy Pay Price Analysis

The daily price chart shows that Alchemy Pay has decreased since it peaked at $0.03 in June 2023.

Over three months, this token has lost more than half its value. However, it is still above its January 2023 lows, which could indicate that it can potentially retest its yearly highs if it drops by another 39%.

However, the token’s long-term prospects aren’t good, as its YTD chart is descending in a triangle pattern.

Furthermore, the token’s RSI is currently inside the oversold zone, and its MACD is negative, creating a bearish sentiment around it.

ACH Alternative – WSM

Wall Street Memes is a meme coin project released as an ICO in June and continues to entice the crypto community with its finance-related memes that have earned it a following of 260000 on X (formerly Twitter).

Bearing a community-centric utility, Wall Street Memes (WSM) is a simple asset that aims to walk the path of Wall Street Bets, the Reddit project it takes inspiration from, and create a strong community united through memes and mutual desire to make it big in the crypto market.

According to the official website, Wall Street Memes is described as a project that tokenizes the mantra – that greed is very good – and seeks to make WSM a cryptocurrency to reach a $1 billion market capitalization and get listed on multiple tier-1 exchanges.

This desire permeates all memes it posts on social media platforms that have also gotten the attention of Elon Musk on more than a few occasions.

Wall Street Memes has raised over $26 million during its presale and will live on tier-1 exchanges in less than a month. Those interested should visit wallstmemes.com to participate.

Smog (SMOG) - Meme Coin With Rewards

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