Crypto payment provider Alchemy Pay has announced Alchemy Chain, a new layer-1 blockchain that aims to facilitate the integration of fiat and cryptocurrency. Built on the Solana Virtual Machine (SVM) architecture, this new blockchain is expected to support Alchemy Pay’s payment ecosystem by providing a scalable infrastructure for high transaction volumes.
Alchemy Chain
Alchemy Chain is designed to create a seamless experience between fiat and cryptocurrency payments, aiming to bridge traditional and digital finance. The new blockchain will use the Trusted Proof of Authority (TPoA) mechanism to increase security and transaction speed.
Blockchain supports both ACH and fiat payments to cover gas fees on the network, allowing users greater flexibility in managing transaction costs.
“Users can easily cover gas (transaction) fees and transactions using $ACH or fiat, while profits and other on-chain earnings can be seamlessly converted to fiat currency.” – Alchemy Pay.
Besides Alchemy Chain’s core functionality, Alchemy Pay plans to offer a variety of tools to support developers and meme coin projects. These tools include “Meme Launchpad,” which will enable founders to easily launch meme-based tokens, and “Meme Telegram Bot,” which provides a user-friendly interface for interacting within the Alchemy ecosystem.
The company’s support for the meme coin industry is seen as a strategic move to attract developers and meet the growing demand for community-driven tokens.
Increase in Alchemy Share Price
Following the Alchemy Chain announcement, there was an increase in the price of Alchemy Pay’s native token, ACH. According to crypto analyst CryptoBull_360, the ACH token is up 13% after retesting a critical support level.
“This level acted as a strong base for $ACH and significant buying interest was seen when prices fell to this threshold.” – CryptoBull_360.
Following the bounce from the support level, ACH rose to around $0.0097 and the increased trading volume indicates strong market interest. If the uptrend continues, resistance levels such as $0.01 and $0.0115 are expected.
Analysts predict that if this uptrend continues, ACH could rise up to 450% and the price could reach $0.11087.
A 482.83% increase in ACH derivatives reached $60.61 million, indicating increased investor interest in ACH price movements. Additionally, open interest reaching $10.70 million reflects the total of contracts that have not yet been closed.
While Alchemy Pay’s new blockchain and the tools it develops strengthen the company’s place in the crypto ecosystem, it also causes the ACH token to attract more attention in the market.
Ultimately, these steps by Alchemy Pay aim to reduce the divide between digital and traditional finance by responding to the needs of both developers and users.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
