Alchemix USD (ALUSD) Hits Self Reported Market Cap of $231.03 Million

Alchemix USD (ALUSD) traded 0.1% higher against the dollar during the 24-hour period ending at 7:00 AM Eastern on May 29th. One Alchemix USD token can now be purchased for approximately $0.97 or 0.00001315 BTC on exchanges. Alchemix USD has a total market cap of $231.03 million and $1.24 thousand worth of Alchemix USD was traded on exchanges in the last day. Over the last seven days, Alchemix USD has traded 0.3% higher against the dollar.

Here’s how other cryptocurrencies have performed over the last day:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 0.7% lower against the dollar and now trades at $73,572.80 or 0.99997456 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 2.2% against the dollar and now trades at $73,412.10 or 1.00067777 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Alchemix USD Profile

Alchemix USD was first traded on February 27th, 2021. Alchemix USD’s total supply is 3,291,070 tokens and its circulating supply is 238,707,111 tokens. Alchemix USD’s official website is alchemix.fi. Alchemix USD’s official message board is alchemixfi.medium.com. Alchemix USD’s official Twitter account is @alchemixfi and its Facebook page is accessible here.

According to CryptoCompare, “Alchemix is a platform to create yield-backed synthetic tokens. The requirements for creating such a synthetic token is that any existing token, such as stablecoins or ERC20s, must already have a yield generating mechanism on chain. This could be lending markets, such as Compound or AAVE, or vault-like products, such as the yvDAI Vault, or aLINK Vault. The Alchemix team are targeting stablecoins for our first synthetic token, which will be called alUSD (the al denoting the Alchemix platform). The plan is for alUSD to be mintable from several stablecoins, but the protocol will initially only support DAI. The examples in the following sections for alUSD will apply to other al-Tokens in a near identical way. The dApp contains the following components: Vaults, Transmuter, Farming, and Treasury. Github, Twitter, Youtube, Discord, MediumWhitepaper”

Buying and Selling Alchemix USD

It is usually not possible to buy alternative cryptocurrencies such as Alchemix USD directly using U.S. dollars. Investors seeking to acquire Alchemix USD should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Alchemix USD using one of the exchanges listed above.

ALUSD/USD price chart by TradingView