Axelar (AXL) is changing hands at $1.03. Token market capitalization is approximately $692.83 million, with a daily trading volume of $21.59 million. The amount in circulation is 675,557,352 AXL.
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Table of Contents
AXL Crypto Key Metrics
- Current Price: $1.03
- Market Cap: $692.83 million
- 24H Trading Volume: $21.59 million
- Circulating Supply: 675,557,352 AXL
- Total Supply: 1,151,518,731 AXL
The price is trading inside the horizontal key zone level. We can expect a bounce from this level.
Weekly Prices Analyzed
In the past week, AXL has witnessed a price rise by 17.27%. This is an upward run in the middle of a more general increase, which has seen the AXL grow by huge margins over the past months. Over the last 24 hours, though, it has been on a downturn of 6.48%, hence the market volatility.
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Recent Price Action
- 24 Hour Change: -6.48%
- 7 Day Change: +17.27%
- Monthly Performance: Continues with an up rise, having significant gains.
News Roundup
Listing on Binance
The most significant recent development for Axelar: the upcoming listing on Binance. This announcement will create a price surge because of the positive sentiment that investors will have. But in the usual order of such events, “buy the rumor, sell the news” kicks in, signaling a price correction post-listing.
Cross-Chain Communication
Thus, is Axelar beginning to establish itself as the leader in secure cross-chain communication for Web3. Therefore, the network makes it possible to transfer several native token types across different blockchains to make decentralized apps interoperable. That feature has won both attention and investment of bigwigs such as Binance, Coinbase Ventures, and Polychain Capital.
Ecosystem Developments
Axelar is also engaging with the $60 million Startup Ecosystem Program to help develop decentralized applications and protocols. This effort incubates projects around how users can replace centralized exchanges and positively contribute to mass blockchain proliferation.
Conclusion
Axelar (AXL) is performing well, has a solid market position, and shows promising developments. The upcoming Binance listing and further technical development of the ecosystem will highlight more opportunities for growth and broader adoption in decentralized finance. Investors should watch market reactions post-listing and the broader trends around cross-chain interoperability solutions.
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