As Bitcoin (BTC) tries to begin the exciting phase of the 2024/2025 bull cycle, the altcoin industry, led by Alchemy Pay (ACH), has indicated an impending bullish breakout. On Tuesday, January 28, during the mid-New York session, the ACH token, ACH, saw a 114% increase in daily average trading volume to roughly $766 million, with a fully diluted valuation of approximately $312 million.
Before retracing about 20% on the last day to trade at roughly $0.046 at the time of writing, the ACH token had risen more than 120% in the previous three days due to a sharp increase in demand. Consequently, for the first time since the start of 2025, the price of ACH has closed above the 50 Moving Average (MA) in the daily time frame.
For the first time since the calendar changed to 2025, the daily Relative Strength Index (RSI) also flirted with the 70% mark. During the much-anticipated altcoin season, the altcoin is rapidly approaching its critical moment of impending bullish breakout after retesting the critical resistance level around $0.044 for the first time since March 2024.
Additionally, as Bitcoin dominance forms a macro reversal pattern, the TOTAL3, which does not include the market capitalization of Ethereum and Bitcoin, has retested the 2021 ATH of roughly $1.15 trillion.
Global demand for Alchemy Pay services is increasing as a result of the widespread use of digital assets. Additionally, the platform offers over 3 million users from 173 countries with a variety of payment options, including Mastercard and Visa.
Top-tier Web3 projects headed by Bitget, OKX, DODO, Bitrue, and many others have also embraced Alchemy Pay. More than 200 payment methods, including Apple Pay, Google Pay, Kakaopay, Zalo Pay, and Discover, were integrated with Alchemy Pay by the end of 2024.
Alchemy Pay obtained seven additional operating licenses in 2024, bringing its total number of licenses across various regions to twelve, in an effort to secure sustainable future growth prospects. For example, New Hampshire, New Mexico, and several other U.S. states granted the platform money transmitter licenses.
Alchemy Pay declared earlier this week that it had been formally registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The platform is therefore permitted to function as an Australian digital currency exchange provider.
The widespread use of ACH tokens will increase in tandem with the Alchemy Pay network's exponential growth. In addition, among other applications, the ERC20 token is used to reward network users by paying transaction fees.