Crypto Exchange Binance Lists Two Altcoins Built on Ethereum, Triggering Rallies

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A pair of crypto assets that facilitate peer-to-peer (P2P) connectivity got a power surge after being listed on crypto exchange giant Binance.

In a new announcement, Binance says that the utility token of Alchemy Pay (ACH), a payment system that serves as a bridge between the crypto and fiat economies, will now be available for trading.

According to the project website, Alchemy Pay serves as “an all-in-one online and offline crypto-fiat gateway service for businesses,” and also enables financial institutions to offer cryptocurrency investment services.

News of the Binance listing sent ACH’s price vertical, leaping 41.5% from $0.065 to $0.092 almost instantly. The altcoin corrected to as low as $0.070 but has since rallied again to $0.084.

Alchemy Pay is currently up 21.4% on the day.

Also getting the green light from Binance is Immutable X (IMX), a layer-2 scaling solution for non-fungible tokens (NFTs) that aims to enable near-instant, zero-gas fee transactions.

IMX is an Ethereum token that can be used for staking on Immutable X, voting on the future of the peer-to-peer protocol, and paying transaction fees.

The project website says,

“We commit zero knowledge (ZK) proofs to Ethereum so users will always be able to verify and withdraw their assets.

Our engine supports over 9,000 transactions per second, a 600x improvement over native limits.”

IMX shot up by 12.8% from $3.75 to $4.23 after the listing announcement but has since retraced considerably. Immutable X fell to as low as $3.40 and is currently trading for $3.68.

Binance says both ACH and IMX will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.

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Featured Image: Shutterstock/Dario Lo Presti/lassedesignen

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