Alchemix ALCX/USD has emerged as the most traded cryptocurrency by the 1,000 biggest Ethereum ETH/USD wallets in the past 24 hours.
What Happened: Alchemix was also ranked ninth among the most used smart contracts by the Ethereum whales, according to data from cryptocurrency data platform WhaleStats.
See Also: How To Buy Alchemix (ALCX)
Why It Matters: Alchemix is a project that allows users to create yield-backed synthetic tokens that can be used to pay off debts. The Alchemix Finance protocol lets users open collateral-backed loans that are paid off automatically using yield generated by the collateral.
Price Action: Alchemix is down 0.2% during the past 24 hours, trading at $94.64 at press time.
Read Next: UK Regulator Bans Crypto ATMs: 'People Should Be Prepared To Lose All Their Money'
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
