A low-cap altcoin is having an incredible week, surging 5,900% in just seven days on the heels of two key catalysts.

Alchemy Pay (ACH) skyrocketed from a low of $0.003 to a high of $0.18 in seven days, representing just under 6,000% gains for holders who were able to ride the rally from trough to peak.

Alchemy Pay is a hybrid crypto and fiat payment gateway that operates in 65 countries. Users have the option to receive payments in their preferred local currency regardless of the senders payment method and currency.

The project also powers crypto and fiat transactions for businesses, merchant networks and financial institutions.

The coin previously surged by roughly 70% in 24 hours following the news that it had been listed on crypto exchange Coinbase Pro last week.

Another top crypto exchange, Binance, is partnering with Alchemy Pay to streamline client and merchant payment services across fiat and digital currency systems. The partnership aims to build a payment bridge on Binance Pay, the exchanges user-to-user cryptocurrency payment feature on the Binance app.

At time of writing, ACH hosts over $685 million in 24-hour trading volume and has a current valuation of $168.12 million. The crypto asset has retraced since posting its seven-day high, and is now trading at $0.09.

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This Low-Cap Altcoin Is Up an Incredible 5,900% in Just Seven Days - The Daily Hodl

Altcoin Daily host Aaron Arnold is listing five assets that he believes are primed to take off this August.

First on the traders list is the flagship crypto Bitcoin (BTC). Arnold says that Bitcoin is experiencing an extreme supply crunch, which over time will send BTCs price in one direction.

You love to see the supply getting low. Well, the price has nowhere to go but up given enough time. To go even further, there is still so much capital on the sidelines sitting in stablecoins because of the BTC/stablecoin supply ratio This capital is just starting to flow back into the market.

On-chain things are looking bullish. This current wave of Bitcoin supply shock has a lot of momentum behind it.

Arnold is also bullish on Ethereum (ETH), which he says is experiencing its own supply crunch.

The trader adds that ETH supply on exchanges has dropped by 10 million in the past year and that $14 billion worth of Ethereum is staked on Ethereum 2.0, where it must lie dormant.

Finally, Arnold notes that Coca-Cola Company recently used Ethereums network to mint non-fungible tokens (NFTs) as a promotional tactic.

This is Ethereums bull run to lose, in my opinion.

Arnold also analyzes decentralized exchange Uniswap (UNI). He shares metrics that suggest Uniswap is responsible for bringing in roughly 80% of the 3 million users in the decentralized finance (DeFi) sector. Arnold says that Uniswaps volume is comparable to the volume of centralized exchanges Kraken and FTX.

The analyst also says that Elrond (EGLD) will have a strong August performance as the scalable blockchain network prepares to launch its Maiar decentralized exchange.

The last asset that Arnold predicts will explode this August is oracle network Chainlink (LINK). According to Arnold, Chainlink is rapidly expanding its integrations and could hit 1,000 integrations by the end of this year.

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Bitcoin, Ethereum and Three Crypto Assets Primed To Explode in August: Altcoin Daily - The Daily Hodl

The Bitcoin dominance rate (BTCD) is in the process of breaking down from an ascending support line that has been in place since the May 19 low.

It is possible that it has reached a local top and will continue decreasing in the near future.

BTCD has been following an ascending support line since reaching a low of 39.66% on May 19. The upward movement continued until a high of 49.14% was reached on July 30.

A downward movement followed shortly afterwards and BTCD decreased below the support line on Aug. 2.

Technical indicators in the daily time-frame are turning bearish. The decrease was preceded by bearish divergence in the MACD. In addition to this, the indicators has given a bearish reversal signal and is close to turning negative. The RSI has just crossed below 50 (red icon) and the Stochastic oscillator is close to making a bearish cross (red circle).

Cryptocurrency trader @Damskotrades outlined a BTCD chart, stating that the decrease is going as expected and indicating a potential breakdown is likely.

Since the tweet, BTCD has resumed its descent and is in the process of breaking down below the line.

The wave count indicates that BTCD is in wave five of a bearish impulse (orange) that began with the Jan. 2021 high.

Furthermore, we can see that it was rejected by the 0.382 Fib retracement resistance level at 49.25%.

The most likely target for the bottom of the entire movement is between 34.23-35.56%. The target is found using the length of wave one (orange) and the 1.61 external Fib retracement of wave four (black).

The relationship between BTCD (green) and BTC (orange) has been positive since July 25. This means that an increase in the price of BTC is causing an increase in BTCD and vice versa.

This is also visible by the correlation coefficient (blue), which has been showing values close to one since July 25, implying positive correlation.

Therefore, the BTC price would have to continue falling in order for BTCD to do the same.

For BeInCryptos previousbitcoin(BTC) analysis,click here.

DisclaimerAll the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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BTCD Rejection and Drop Could Lead to Altcoin Rally - BeInCrypto

Today marks six years since the launch of the second-largest cryptocurrency by market cap,Ethereum (CRYPTO: ETH).

The leading altcoin has seen its price appreciate by over 234,000% since its launch and had a market cap of $275 billion at the time of writing.

The decentralized open-source blockchain was first introduced to the world in a whitepaper by Vitalik Buterin in 2013 before it was officially launched two years later.

Most notably, Ethereum pioneered the concept of executing smart contracts on the blockchain. It also introduced the ERC-20 token standard, wherein other crypto tokens could be built on top of the Ethereum blockchain.

This gave rise to the creation of numerous altcoins which constitute the vast majority of the crypto market today.

Over the past year, the Ethereum ecosystem expanded significantly after the explosion of the decentralized finance (DeFi) industry and the massive boom in non-fungible token (NFT) sales.

Total value locked in DeFi protocols stood at $67.8 billion at the time of writing, up from just $4 billion one year ago. Meanwhile, data from Non-fungbile.com revealed that while monthly NFT sales were around $3.4 million in July 2020, they now exceed $202 million.

Market proponents paying attention to these developments, including institutions, appeared to favor Ethereum over Bitcoin over the past few months, as seen by its recent outperformance of several benchmark assets.

Ethereum will soon undergo some impactful changes to its protocol. The upcoming London Hard Fork will see the implementation of EIP-1559 an upgrade where a portion of the networks gas fees will be burned, which will vastly reduce the cost of transactions.

The networks transition to ETH 2.0, a Proof-of-Stake (PoS) consensus mechanism, will make it more environmentally sustainable while increasing scalability and transaction speed.

At the time of writing, there are over 200,000 validators running nodes with 6.6 million ETH worth $14 billion staked in the ETH 2.0 deposit contract.

Price Action: Ethereum hit an all-time high of $4,362 earlier this year. At press time, the leading altcoin was trading at $2,341, gaining 2.20% over the past 24-hours.

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Happy Birthday Ethereum How The Leading Altcoin Helped The Crypto Market Evolve Over Six Years - Benzin - Benzinga

Dogecoin is that teachers pet who everyone hates, but still gets favored again and again until they dont. Such is the case at the moment with the meme coin as DOGE failed to register a decent hike after the broader markets rally.

When Bitcoin and Ethereum and other altcoins were picking up the pace, DOGE started slowing down. This brings us to the question Is DOGE losing its sheen and worth? The metrics will help us answer that question.

The beloved son of the Dogefather, the altcoin always has been a topic of discussion, no matter what. Of late, it is because of its relatively minor hike of 20% in the last 13 days. Minor, because BTC hiked by 31% and ETH gained by 44% over the same time period.

The surprising problem here is that despite having high and rising investor sentiment, DOGE could not deliver as per peoples expectations. Additionally, the altcoin is losing all its profitability as well.

Since the rally of April-May which took Dogecoin to its all-time high, profitable addresses have come down by 11% from 93% to 82%, as of press time. Similarly, daily active addresses (DAA) have fallen severely as well.

This 240k drop in DAA is proof of investors exiting. The sudden boom DOGE witnessed earlier in the year is now coming down. However, even now, whales and long-term HODLers continue to HODL DOGE, with mid-term holders participation increasing as well.

Talking about Dogecoin and the Dogefather Elon Musks influence on the crypto-market, one important observation has come across.

Of late, Musks impact on cryptocurrencies has come down significantly. For instance, despite this tweet dated 25 July, DOGE did not witness any rally.

However, a new and bizarre influence might be rearing its head these days. A Dogecoin-inspired coin Dogelon (God bless us all) has been making headlines for making crazy gains on its daily chart. The altcoin, which yesterday went up by 120%, also recorded a 1015% surge back in May.

Whats perhaps more outrageous is the fact that its max supply sits at 1 quadrillion (For your reference, thats 1,000,000,000,000,000). So, even though Musk may not be as influential as he once was, his presence certainly is overwhelming. Simply put, the Tesla CEOs enthusiasm and promotion of meme-coins may have just spurred the growth of others like DOGE.

What then? Can Dogelon Mars replace DOGE? Unlikely. In fact, comparing a $50M market cap crypto with eighth-ranked Dogecoin with $26 billion in market capitalization isnt fair either.

Then again, who knows. After all, there are few rules when it comes to cryptocurrencies. Even fewer where meme coins are concerned. Think about it Did anyone really expect DOGE would one day be in the top-10?

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After hiking by 120% in 24 hours, is this alt the new Dogecoin in town - AMBCrypto News