Alpha Finance Lab (ALPHA) coin has surged in value by 65% to around $0.85 today, though it still remains more than 70% down on its all-time high of $2.92 back in February. The cryptocurrency’s trading volume has also skyrocketed by 419% to $261 million.
These kind of metrics are hard to ignore, and as a consequence, an increased number of investors have been investigating the value proposition presented by Alpha Finance Lab coin. So, to help out investors throughout the space, this article tells you everything you need to know about ALPHA crypto including what the Alpha Finance Lab project is, how it works, and what its price forecast is this year.
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What is Alpha Finance Lab?
Launched in 2020 via a public token sale on the Binance Launchpad by Tascha Punyaneramitdee, it is a DeFi project that has released an innovative range of products. The ALPHA token is native to the platform.
Alpha Finance’s first product, Alpha Lending, incorporated interest rates that were adjusted algorithmically, meaning lenders would no longer have to be locked into deals with unfavourable rates during bullish market conditions.
The second product to be released was Alpha Homora, which seamlessly incorporated leverage into the increasingly popular yield farming segment. While complex and risky, Alpha Homora allows farmers to engage in a more lucrative practice.
A major potential catalyst moment for the whole protocol will come at some point this year when Alpha Finance launched AlphaX; this sub-project is essentially a perpetual swaps exchange with no need for a conventional order book.
Again using the ALPHA token, which powers the entire Alpha Finance ecosystem, the developers also aim to create and launch a DAO that gives tokenholders a key voting role in decisions concerning project governance.
Should I buy ALPHA coin today?
If you believe in the Alpha ecosystem and believe 2021 will offer some catalyst moment upon the release of new sub-projects, buying now ahead of future growth could be an astute move.
While the border cryptocurrency market has been tending bearish throughout June, ALPHA has now bucked this trend, gaining more than 90% in the last fortnight. The technical indicators are undeniably impressive, and should market sentiment continue in the same vein, tokenholders could be in for more rewards.
Will ALPHA crypto make me rich?
This is wholly unlikely, and ALPHA would need to become one of the world’s most valuable cryptocurrencies by market capitalisation in order for this to happen. However, stranger things have happened in the world of crypto this year; just look at Dogecoin.
ALPHA price prediction
Our ALPHA Finance Lab price forecast should be taken with a pinch of salt, as should any forecast concerning an altcoin project. The unknowns, variables and volatility that is innate to crypto makes calculating fundamental value difficult.
The next price target for ALPHA is the previous month’s high of $0.90, and if it can breach resistance at this point, we would not be surprised to see the coin crack $1 well before the end of this month. The release of ALPHA’s DAO and the AlphaX swapping protocol could also generate significant gains when they occur. $2 by the end of 2021 is more than feasible.
Social media coverage of $ALPHA
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