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Why Aleph.im rose 61% in a few hours today
Trading volume for Aleph.im increased by 2,430% over the past day, exceeding $7.8 million, after being around $310,000 at the start of the week.
The price of Aleph.im (ALEPH), a cryptocurrency based on Ethereum (ETH) token aimed at decentralized cloud services, has surged 39% from its closing price yesterday, according to data from CoinMarketCap. After hitting a low of $0.099 earlier this week, Aleph.im reached a recent high of $0.16 before settling around $0.1305 at press time.
Trading volume for Aleph.im has also increased recently, from around $310,000 at the start of the week to over $7.8 million in the last 24 hours. This equates to a 2,430% increase in 24-hour volume.
ALEPH 7-day price chart | Source: CoinMarketCap
ALEPH powers the Aleph.im network, which provides decentralized alternatives to cloud computing services such as storage, databases, and compute. The project focuses on helping decentralized applications achieve fully decentralized architectures without relying on centralized servers.
Some analysts speculate that the growing interest could be linked to the enthusiasm surrounding the Solana (SOL) blockchain, which Aleph.im interacts heavily withAleph.im provides Solana developers with the tools to decentralize their applications.
Whether this marks a temporary peak for ALEPH or the start of a more sustained uptrend, analysts are divided on the token’s future trajectory. As the decentralized web services space continues to evolve, the utility and adoption of networks like Aleph.im will help shape the value of associated tokens.