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Alchemy Pay token ACH went up by 50% after partnering with Visa. Will it be a loser or a winner: analysis

Tanja Nechet

News editor

Jan 18, 2023 at 08:01

After a series of high-profile collaborations, the Alchemy Pay token, ACH (ERC20 token issued on the Ethereum blockchain.), skyrocketed in value. It gained +50.4% in just one day after VISA listed Alchemy Pay as an official service provider. This move will facilitate transactions between traditional fiat currency and cryptocurrency. 

Cryptocurrency platform Alchemy Pay also announced on January 17 that it now supports Apple Pay. On January 11, Forbes China awarded Alchemy Pay the Web3 Innovation Pioneer Award.

What’s next for ACH?

In general, the project appears promising, allowing you to accept cryptocurrency as payment with settlements in different countries’ local fiat currencies.

During The POW’ER 2023 Hong Kong Web3 Summit, Alchemy Pay’s creators said they will continue to work with industry leaders to achieve success in the crypto payment sector.

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Some Reddit users consider this coin a questionable investment. The movement of liquidity and the location of the actual headquarters (Singapore) raise suspicions. Another part believes that this coin will not survive the current crypto winter, just as 90% of the coins of 2018.

Based on data from the past 30 days, Wallet Investor experts are bullish on ACH. However, experts believe that the token’s price could fall by 90%, to $0.000943 USD. 

Alchemy Pay’s (ACH) current price

At the end of 2022, the Alchemy Pay token jumped to a high of $0.0090 (up 24%), and its market capitalization exceeded $44 million. ACH was trading at $0.0108 on January 18, 2023, with a market capitalization of $51,787,829 at the time.

At the same time, the maximum price was recorded on August 6, 2021, and was $0.1975 (up to 93.91% more than the current price).

One of the traders noted that the coin managed to double its market capitalization, but the price never reached the expected $0.20 or $0.25 because many rushed to sell the asset.

According to InvestorsObserver data, Alchemy Pay has a very bullish sentiment. The Gov Capital’s forecasting system sees a downtrend in the last year. But the future price of the asset is projected at $0.0525 (+462%). A 5-year ACH forecast is $0.251.

What is Alchemy Pay and its ACH token?

Since the service launched in June 2022, the Singapore-based payment provider has taken its payment network infrastructure and moved to direct-to-customer services with On & Off-Ramp (plug-in or API) and NFT Checkout, which are suitable for Web3 platforms and token issuers of all sizes. Alchemy Pay provides a direct way to make cryptocurrency purchases using fiat payment methods. The service allows users to store their cryptocurrency after a purchase.

In simple words, Alchemy Pay is a simple global payment system that enables online and offline companies to accept fiat and cryptocurrency payments with settlements in local fiat currencies.

Alchemy Pay is supported in more than 70 countries with more than 300 payment channels and has touchpoints with more than 2 million merchants through partnerships with industry leaders.

In recent months, it has partnered with networks such as Polygon, Avalanche, Algorand, and Arbitrum, among others.

In addition to Apple Pay, Alchemy Pay supports Mastercard and Visa in 173 countries. This includes markets in Southeast Asia and Latin America, where the service supports popular regional payment methods such as GCash in the Philippines (60 million users), OVO (92 million users), and Dana (115 million users) in Indonesia, and Pix in Brazil (116 million users). You can find a full list of supported payment methods and integrations here. And the white paper is here.

Alchemy Pay (ACH) is the utility token. It is used for transaction fees, rewards for network use, lowering transaction costs, and it is pledged by business partners during the onboarding process. The circulating supply is 5,082,155,932 ACH (51%) with a maximum and total supply of 10,000,000,000 coins.

ACH is traded on major exchanges, including Binance, Coinbase, and KuCoin.

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