Why is Alchemy Pay (ACH) crypto drawing attention despite its fall?

The Alchemy Pay (ACH) crypto was trending on Wednesday morning, though it traded 7% lower from its previous 24-hour value. However, its trading volume increased by 82% in the same period.

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What is Alchemy Pay (ACH) crypto?

Alchemy Pay provides payment solutions for fiat and crypto economies. Its users include merchants, individuals, developers, etc. It offers online and offline merchants both fiat and crypto services and seamless onboarding to the blockchain space. It provides easy access to Web3 services.

The project was set up in Singapore in 2018. It claims to provide services in more than 70 countries with around 300 payment channels. Alchemy Pay claims to share the vision of equal access to global finance irrespective of geographical location.

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Its native token, ACH, is an ERC-20 token on the Ethereum blockchain. It can be traded on MEXC, Bybit, BingX, etc.

The ACH token was listed on the Bitpanda exchange on June 1. The Kraken exchange also had listed the token for trading on May 31 after it began receiving deposits on May 25.

On May 31, Kraken announced the listing of ACH, IDEX, and REQ tokens on its platform.

Also Read: Why is Origin Protocol (OGN) crypto rallying?

Additionally, the Crypto.com exchange listed the token on Tuesday besides two others, GAL and ACH. These listings might have drawn investors’ interest in the project.

Also, on May 24, Alchemy Pay announced on its social media platform that it has partnered with Binance Pay to enable crypto payments for InstPower banks across 14,000 locations in countries like Japan, Canada, France, Germany, etc.

Also Read: Five AI stocks to consider in June: IBM, MU, AMAT, AI & ADBE

                                                   Data Source: CoinMarketCap.com

Bottom line:

The ACH token was priced at US$0.01639 at 11:25 am ET on June 1, down by 7.64%, while its volume for the last 24 hours increased by 82.41% to US$22.60 million. It has a maximum and total supply of 10 billion, and its current circulating supply is around 4.54 billion.

The token has a market cap of US$74.42 million, and its fully diluted market cap is over US$163.91 million. It returned gains of 279.63% in the last 12 months. The 30-day highest and lowest prices of the ACH token were US$0.03593 and US$$0.01328, respectively.

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