Alchemy Pay Sees Significant Price Surge Amid Regulatory Progress and New Partnerships

Alchemy Pay’s price has experienced a substantial recovery, reaching its highest level since February 2022, following notable regulatory advancements and strategic partnerships.

The cryptocurrency’s price surged to a high of $0.0585, representing a 730% increase from its lowest level in 2023, and boosting its market capitalization to over $452 million.

Regulatory Progress and Licenses

The price rally was triggered by Alchemy Pay’s receipt of a digital currency exchange provider license in Australia, bringing its total number of global licenses to 12. The company also holds a US money transmitter license and a UK API approval, with management anticipating the acquisition of additional licenses in the coming months.

Partnership with Movement

Alchemy Pay has also formed a significant partnership with Movement, a blockchain network that enables users to build high-quality applications. This collaboration unites Ethereum Virtual Machine and Move-based ecosystems, allowing for seamless onboarding to Movement’s network and facilitating the purchase of the MOVE token using various payment gateways, including Visa and Mastercard.

Thrilled to partner with @movementlabsxyz! $MOVE is now on Alchemy Pay’s on-ramp! Buy $MOVE with ease using Visa, MasterCard, mobile wallets & more.

Key Features and Products

Alchemy Pay has established itself as a prominent player in the crypto industry, offering a range of products and services that bridge cryptocurrencies and over 50 fiat currencies, including the US dollar and the euro. The company provides fintech solutions that enable businesses to accept cryptocurrencies and receive funds in local currency. Additionally, Alchemy Pay has launched Alchemy Chain, a high-performing layer-1 solution for the payment industry.

Investment and Funding

Alchemy Pay has received funding from venture capital firms, with the most recent investment of $10 million valuing the company at approximately $400 million.

Price Forecast

According to analysts, Alchemy Pay’s price is “near breakout.” The weekly chart indicates that the ACH price has made a strong breakout, surpassing the key resistance level at $0.0515 and the 23.6% Fibonacci Retracement level. With the coin moving above the 25-week moving average, bulls are currently in control. As a result, the price is likely to continue rising, with the next target at $0.0930, the 50% Fibonacci Retracement point, representing an 80% increase from the current level.

For more news on the latest developments in the cryptocurrency market, visit Global Crypto News.

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