The name of this token is so nice that I am wondering why nobody thought about it earlier. The first letter in the alphabet. Easy and obvious. However, ALPHA is not only interesting for its name. It is first of all a DeFi protocol offering great rewards: 256.36% APY on ibETH/ALPHA.
Ok... but some of you will ask me: how to do that? What is ibETH?
Alpha protocol is working on Ethereum network. So you need to have Metamask, and some ETH for the gas fees. That's the main drawback. ibETH stands for Interest-bearing ETH. You can get it by converting your ETH into ibETH on Alpha Homora application. Some gas fees again. Once you got your ibETH, you can stake them on the app (currently 9.36% APY) or put them in the Alpha pools to earn the 256.36% APY rewards... However, to do that, you need first of all to get some ALPHA tokens. That's why the value of this token will increase, since it is needed to get the highest rewards.
Having said that, I personally do not use Alpha Homora on Ethereum network because I hate Ethereum gas fees - although I am an ETH holder... Therefore, I prefer to farm my ALPHA tokens on Binance Smart Chain by bringing it into the liquidity pool ALPHA/BNB and staking on Pancakeswap.
For the daily traders, please see below the 15 minutes ALPHA/BNB chart showing a nice rebound on the MA(99). That's quite promising for today.
You can buy ALPHA on Binance. If you do not use Binance yet, please click on the link below to register and earn a 5% retro commission on each trade:
If you want to mitigate the risk, please only take a bit of it. One option is to be mainly exposed to ETH and to invest partly in DeFi tokens like SNX. I am personally a big fan of SNX - please click here to get more info. However, I am not a financial advisor. Please do your own research before investing.