The crypto ecosystem has come a long way since the launch of Bitcoin (BTC), and smart contracts have revolutionized the industry in recent years. However, much remains to be done when it comes to integrating blockchain technology into peer-to-peer, business-to-business and consumer payment systems.
Alchemy Pay aims to increase the use of cryptocurrency with its hybrid payment system, and last week the ACH token rose by 77% and traded at 0.0625 dollars on 9 February.
ACH / USDT, 4-hour chart. Source: Trading View
Three reasons for the high price of ACH include the launch of the ACH cross-chain on the Binance Smart Chain (BSC), several new listings on exchanges that have helped expand access to the token, and Alchemy Pay’s integration with many blockchain projects in the ecosystem. .
ACH joins Binance Smart Chain
The most important development of the Alchemy Pay protocol was the launch of Binance Smart Chain at the end of January.
In addition to providing cheaper transactions for ACH users, cross-chain integration has also helped increase the number of investors available in ACH by listing tokens on BSC-based decentralized exchanges such as PancakeSwap.
Alchemy Pay is also partnering with Bit.Store to host the project’s BIG token giveaway to reward community members and encourage future collaboration.
New IPOs tend to increase exchange rates
The other factor that helped increase the price of ACH was the listing on several exchanges, including Binance on January 10th.
Other notable exchanges in the last month include WazirX, CoinEx Global, MEXC Global, ONUS Finance, Tokocrypto and XT Exchange.
Several exchanges, including Binance, have also offered high-yield products to attract liquidity, and Gates recently added an ACH tool with 3x leverage.
Related topics: Cointelegraph Study: CryptoPayment Token Valuation
Integration into the coding ecosystem
The third innovation that strengthened support for ACH was the integration of Alchemy Pay with several blockchain networks, which was to accelerate the launch of paper payments.
The networks and protocols that have integrated Alchemy Pay since mid-December include IoTeX, Avalanche, Polygon, Algorand, NIUM, MakerDAO and SimpleHold.
VORTECS fra data from Cointelegraph Markets Pro began to reveal positive prospects for ACH on February 8, ahead of the recent price increase.
Exclusive to Cointelegraph, the VORTECS er score is an algorithmic comparison of historical and current market conditions based on a number of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS ™ score (highlighted in green) compared to the ACH award. Source: Cointelegraph Markets Pro.
As you can see in the chart above, ACH’s VORTECS steg rose to a peak of 74 on February 8, about four hours before the price rose 55.5% the next day.