What Alchemix USD is designed to do
Alchemix USD (ALUSD) is a fiat-backed stablecoin, currently ranked 146th by market capitalization among the assets we track. Alchemix USD is a fiat-backed stablecoin: each token is meant to be redeemable for a reference currency held in reserve, so its job is to stay flat, not to appreciate. It is plumbing for the crypto economy rather than a bet on price.
Alchemix USD (ALUSD) is a type of synthetic stablecoin designed to enable users to borrow against their future yield while automatically repaying their loan through accrued interest. It aims to create a self-repaying loan mechanism within the DeFi ecosystem.
How the peg is meant to hold
The mechanism is straightforward in theory — one token, one unit of reserve — but it depends entirely on the issuer actually holding and honoring those reserves. Attestation quality is therefore the core risk.
Background & fundamentals
In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Optimism Ecosystem, and Stablecoin.
Where Alchemix USD sits in the market
Trading around $0.9607, Alchemix USD carries a market capitalization of $244.06M. Around $66.75K changes hands across exchanges in a typical 24-hour window. That is a turnover of about 0.03% of the float — on the quieter side, which can mean thinner liquidity for large orders.
Alchemix USD carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. ALUSD remains -97% beneath its all-time high of $30.69, the kind of gap that historically takes a full cycle or a fresh catalyst to close.
What the price history shows
Across timeframes, ALUSD shows 24-hour +0.14%, 7-day -0.14%.
Volatility profile
Recent action puts Alchemix USD in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.
How to evaluate a stablecoin like Alchemix USD
A grounded read on ALUSD comes down to three questions:
- Reserve quality — what backs ALUSD — cash and short Treasuries are safer than commercial paper or crypto collateral — and who attests to it.
- Redemption access — whether holders can actually redeem at par, and how quickly, under stress.
- Regulatory standing — the issuer's jurisdiction and licensing, which increasingly determines which stablecoins survive at scale.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
