Ethereum Altcoin Rockets 200% in Less Than a Week As Project Ecosystem Sees Flurry of Updates

An Ethereum-based (ETH) altcoin project is skyrocketing after announcing a series of upcoming updates.

Amid a series of announcements, payments platform Alchemy Pay (ACH), known for being a protocol that works with both fiat and crypto, is up 179% in the last seven days.

ACH, its native token, quadrupled in price in less than a week. ACH went from its seven-day low of $0.0160 all the way up to $0.0482, a 200% increase. The asset has since retraced and is moving for $0.0423 at time of writing.

According to Alchemy Pay, the protocol has a new on-ramp feature that will now integrate Google Pay, allowing customers to purchase quickly using fiat currency.

“Alchemy Pay’s ramp services enable a very direct way to make crypto purchases using fiat payment methods, while allowing users to custody their own crypto once purchased — a key feature of the decentralized Web3 movement.”

ACH also says it’s going to switch its management style from a centralized authority to a committee-based system.

“As of January 1st, 2023, Alchemy Pay has transitioned from a centralized management system to a committee-based management system. Following a successful trial period, this change is now official and is hereby announced.

The Alchemy Pay founding team believed that the implementation of a committee-based management structure would share the pressures of running the business, while bringing in more professionals and expertise.”

ACH is also starting a partnership with Binance, the world’s largest crypto exchange by volume. In a new announcement, Binance says that perpetual contracts with up to 20x leverage will be launching on ACH.

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Featured Image: Shutterstock/Sep21 Studio/cgterminal