Price Cuts at Blockchain Platform Alchemy Reveal Persistence of Crypto Winter

Crypto winter is leading some blockchain firms to cut prices or offer lower-cost service tiers.

Alchemy, a blockchain infrastructure platform that gives developers tools to build applications, on Wednesday released a new payment plan that aims for greater affordability and flexibility – acknowledging the pain of the current market, with major cryptocurrencies like bitcoin (BTC) and ether (ETH) still well off their highs despite this year’s rally.

The plan, “Alchemy Scale Tier,” comes amidst a brutal retrenchment for the crypto industry which has sliced budgets for developers who want to continue building applications for blockchains. The plan will consist of two options that let developers choose how much they want to commit to the platform, both financially and computationally.

Developer teams that want to maximize affordability can opt to scale yearly or monthly for different price points, with the option of increasing their computing power depending on the plan.

According to Alchemy, this new plan can save anywhere from 31-85% in fees compared to their most popular product, the Growth Tier plan.

“We saw that there was this kind of gap in the middle where teams that are outgrowing their growth plan needed a cheaper option than what was out there,” Monica Garde, a product manager at Alchemy, told CoinDesk. “We wanted to make sure that you could provide something for them at that level.”

Read more: Blockchain Developer Platform Alchemy Releases AI-Powered Tools for Web3 Builders