Why Is Alephium’s ALPH Price Going Up? Fundamentals Suggest Price Still Has Room for Growth After +140% in 4 Weeks

Alephium (ALPH) has seen tremendous price growth recently, surging 15% in 24 hours, 36% in the past 7 days, and a whopping 140% over the past 4 weeks. What is driving this cryptocurrency’s meteoric rise in value? An examination of Alephium’s onchain activity and fundamentals suggests there is still room for further upside.

Bullish Onchain Signals

Several crypto influencers have taken note of Alephium’s soaring price and strong onchain signals, predicting even more growth ahead.

As OwlyEagle stated on Twitter: “$50-$90 main target for $ALPH. Moon case = $200. Fundamentals, and once the project’s vision is executed, I see this easily competing with Solana & Ethereum.

Meanwhile, אCrypticbanditoא highlighted Alephium’s surging popularity, tweeting: “#Alephium has gained almost 1000 people on the @coingecko watchlist in the past 24 hours, while also appearing on the most searches, and biggest gainers highlights list. $ALPH is BULLISH!”

Why Are Investors So Bullish on Alephium?

What exactly about Alephium has investors so excited? There are several key factors driving bullish sentiment:

Developer-Friendly Platform: Alephium bills itself as a developer-friendly platform for building decentralized applications (dApps), with an emphasis on accessibility, scalability, and security. This makes it appealing for crypto developers looking for alternatives to Ethereum.

Unique Technical Design: Alephium combines sharding, expressive UTXOs, and a Proof-of-Less-Work consensus mechanism to improve scalability and security. This innovative design stands out from competitors.

Strong Fundamentals: As OwlyEagle notes, most of Alephium’s supply has already been distributed, meaning less chance of major dumps. The developers also sold tokens early to fund ongoing work, instilling confidence.

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Bull Run Just Getting Started

With Alephium’s combination of innovative technology, appealing developer pitch, and strong tokenomics, crypto influencers firmly believe its price run still has ample runway for growth.

As OwlyEagle succinctly puts it: “Being proof of work, I don’t expect any big dumps.”

In other words, Alephium’s fundamentals suggest this bull run is just getting started. A surge to $50+ seems plausible in the near term, with the “moon case” being a rise to $200 per ALPH if the project succeeds long-term in competing with major platforms like Ethereum and Solana.

So far, onchain data indicates Alephium has found strong product-market fit and has room to run. This is why ALPH continues trending up among the biggest gainers – investors are betting this altcoin still has major upside ahead.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency