{"id":434305,"date":"2023-08-29T11:34:47","date_gmt":"2023-08-29T11:34:47","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=434305"},"modified":"2023-08-29T11:34:47","modified_gmt":"2023-08-29T11:34:47","slug":"alchemy-pay-price-prediction-ach-reaches-0-013-does-payment-utility-fuel-the-rise","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/alchemy-pay-price-prediction-ach-reaches-0-013-does-payment-utility-fuel-the-rise","title":{"rendered":"Alchemy Pay Price Prediction: ACH Reaches $0.013 \u2013 Does Payment Utility Fuel the Rise?"},"content":{"rendered":"

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?<\/p>\n

Alchemy Drops 1.56%<\/h2>\n

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%.<\/p>\n

\"Alchemy<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

What is Alchemy Pay?<\/h2>\n

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

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

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

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.<\/p>\n

The platform also has nuanced services like the NFT checkout service.<\/p>\n

Alchemy Pay Price History<\/h2>\n

Alchemy Pay was founded in 2018, but it wasn’t until 2020 that CoinMarketCap started tracking the token’s activity.<\/p>\n

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.<\/p>\n

\"Alchemy
Alchemy Pay All-time price chart<\/figcaption><\/figure>\n

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.<\/p>\n

What is the Reason Behind the Recent Drop<\/h2>\n

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.<\/p>\n

\n

Developed by @EquityPay_Org<\/a>, the Dragonfly wallet has integrated #AlchemyPay<\/a>'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<\/a>$ACH<\/a> pic.twitter.com\/kpYaafwIFs<\/a><\/p>\n

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) August 29, 2023<\/a><\/p><\/blockquote>\n