ALCX (Alchemix) rose 87.70% in 24 hours.

Gate News Bot news, November 6, according to CoinMarketCap market data, as of the time of writing, ALCX (Alchemix) is currently priced at $12.09, with a rise of 87.70% in the last 24 hours, reaching a high of $12.79 and a low of $6.18, with a trading volume of $102 million in the last 24 hours. The current market capitalization is approximately $30.3 million, an increase of $14.2 million compared to yesterday.

Alchemix is a decentralized finance platform that offers automated repayment loan services without the worry of liquidation risks. Users can borrow up to 50% of the collateral value while earning yields on all deposits. The platform emphasizes flexibility, security, and asset protection, supporting multiple mainstream tokens as collateral. Alchemix loans automatically use the yields generated from deposits to repay, allowing users to consume and save simultaneously.

Recent important news about ALCX:

1️⃣ ALCX Token Buyback Plan Approved The Alchemix governance community has approved a buyback plan for ALCX tokens. This plan aims to support the token price by repurchasing and destroying ALCX tokens, while increasing scarcity. This initiative demonstrates the project team's confidence in the long-term development of the platform and could become an important driver for the rise in ALCX price.

2️⃣ Alchemix continuously optimizes automatic repayment loan services The Alchemix platform continuously improves its unique automatic repayment loan mechanism. Users can borrow loans of up to 50% of the collateral value, while automatically repaying the debt through deposit earnings. This innovative DeFi model has attracted increasing attention from users, helping to enhance the market demand for ALCX.

3️⃣ DeFi market rebound drives ALCX performance As the overall sentiment in the cryptocurrency market improves, the DeFi sector is also showing signs of recovery. As a well-known DeFi project, Alchemix benefits from the industry's revival, with ALCX token price and volume significantly rising. Investors' renewed interest in innovative DeFi projects may be one of the important factors driving the recent pump of ALCX.

From a technical perspective, ALCX has broken through multiple key resistance levels and is showing a strong upward trend in the short term. However, considering the profit-taking pressure after the rapid rise, investors should still be cautious of potential pullback risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.