Alchemix Finance is a decentralized finance (DeFi) protocol that allows users to collateralize their loans. Alchemix Finance utilizes the ALCX token for governance. After its launch in February 2021, the ALCX price significantly increased. However, this crypto asset has performed poorly in the last year. Will the ALCX token recover in the future? Let us discuss it in the following Alchemix price prediction for the coming years.

What Is Alchemix (ALCX)?

Alchemix Finance allows users to create synthetic assets (collateral-backed tokens) to repay debt. The synthetic collateral automatically pays off the original loan without inducing liquidation risk. How does this auto-repaying loan scheme work? In simple terms:

The borrower deposits a collateral (for example, ETH or DAI) into a smart contract to receive a loan,
The Alchemix protocol automatically deposits the collateral into a platform to generate yield (for example, Yearn Finance vaults),
This way, the collateral generates a yield that gradually repays the original loan.

Initially, Alchemix Finance supported only ETH and DAI as collaterals and Yearn Finance vaults as the platform to generate yields. Since March 2022, after the Alchemix v2 upgrade, the protocol allows borrowers to pick their own yield strategies and types of token collaterals. Users can choose Vesper and Aave vaults alongside Yearn Finance vaults. This way, users have the flexibility to generate their own yield aggregators.

Alchemix (ALCX) Token Overview

Alchemix Finance uses the ALCX token to enact DAO governance, the Alchemix on-chain treasury. ALCX holders can vote on how the treasury funds are allocated and further protocol development. Holders can also stake their ALCX tokens to earn more ALCX tokens and rewards. Currently, there are nearly 2 million ALCX tokens in circulation. By 2027, there should be a maximum supply of 2.28 million ALCX tokens. As of October 22, 2023, ALCX was the 530th most valuable cryptocurrency, according to CoinMarketCap. The table below summarizes other relevant data for the same date.

Coin Name	Alchemix
Coin Symbol	ALCX
USD Price	$12.18
Market Cap	$24,319,982
24h Trading Volume	$1,052,338
Total Supply	2,280,883 ALCX

Alchemix (ALCX) Price History

The ALCX token hit the trading market on February 27, 2021, at $348.3. It quickly increased its price, reaching $1,308.5 on March 1 that year. Two months later, on May 10, the ALCX hit its all-time high at $11,060.6. It was a price hike of +3,075% in less than three months since its launch. However, after skyrocketing, this token’s price plummeted. On May 23, this asset traded at $658. One month later, the ALCX price was around $302.7. This downtrend continued throughout 2021, ending that year with an ALCX price of $274.4.

The situation worsened for ALCX in 2022. Towards the end of the first month, on January 27, 2022, this token’s price was $141.1. The price steadily dropped, reaching $29.4 on May 12. During the second half of 2022, the ALCX price dropped more slowly. By the end of 2022, this token traded at around $13.7.

In the first half of 2023, the ALCX token showed some signs of recovery. This token’s price increased since the first day of 2023, reaching $24.5 on March 5, 2023. However, it failed to keep that pace, and a downtrend ensued. The ALCX token reached its all-time low on September 11 this year, trading at $10.3. As of October 22, 2023, the ALCX price was around $12.2.

Alchemix (ALCX) Price Prediction for 2023-2030

Alchemix (ALCX) Price Prediction for 2023

There are practically two months left in 2023. Can the ALCX price significantly change in these two months? It might. TechNewsLeader indicates that the average ALCX price in the year’s remainder could be $14.5, with a maximum of $16. PricePrediction forecasts a similar scenario with an average price of $14.9 and a maximum of $16.1. BitcoinWisdom is more optimistic, predicting an average ALCX price of $17.2 and a maximum of $18.4. Hence, if you invested in ALCX at the current trading price of $12.2, your investment could grow by +51% within the next two months.

Alchemix (ALCX) Price Prediction for 2024

In 2024, the ALCX token will trade at $21.1 on average, reaching a maximum of $24.4, according to TechNewsLeader. PricePrediction expects an average price of $21.7 and a maximum of $24.9. BitcoinWisdom forecasts a better scenario where ALCX will trade at $27 on average, reaching a maximum price of $30.7. In this case, your ALCX investment at the current $12.2 would increase its worth by +151% in 2024.

Alchemix (ALCX) Price Prediction for 2025

The ALCX price will continue to grow in 2025. According to TechNewsLeader, ALCX will trade at $31 on average in 2025, reaching a maximum of $35.6. PricePrediction expects an average price of $30.9 and a maximum of $36.8. BitcoinWisdom indicates the average ALCX price will be $39.2 in 2025, possibly reaching $42.9. So, your ALCX investment at the current $12.2 could grow by +251% in 2025.

Alchemix (ALCX) Price Prediction for 2030

In the long run, the ALCX price is expected to continue to grow, although sources differ by how much this growth will occur. BitcoinWisdom indicates the average ALCX price will be $100.5 in 2030, potentially reaching $104.2. PricePrediction is significantly more optimistic, with an average price of $190.7 and a maximum of $223.9. TechNewsLeader predicts an average ALCX price of $206.9 and a maximum of $235.1 for 2030. Hence, an ALCX investment at the current trading price of $12.2 could increase its value by +1,827%.

Conclusion

Alchemix is a platform offering a unique gradual loan repayment scheme. The idea behind this protocol is quite attractive. The ALCX token used for governance of the Alchemix on-chain treasury demonstrated excellent performance a few months after its launch. However, the last year could have been better for this token. As an investment, ALCX could yield profitable returns in the long run. Before investing, you must research this crypto asset beyond mere price predictions.

FAQs

Is Alchemix (ALCX) a good investment?

Alchemix (ALCX) might be a profitable long-term investment. Currently, the ALCX price is meager, which could contribute to maximizing future returns if you invest now.

Should I invest in the Alchemix (ALCX) token?

Only you can answer this question. Cryptocurrencies are volatile assets. Hence, investing in ALCX is a personal decision. To minimize the risk of losses, you should thoroughly research this asset before investing.

Where can I buy Alchemix (ALCX)?

Several exchanges lost ALCX for trading. You can buy this asset on LetsExchange.io at competitive rates without hassle.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.