Axelar

Momentum

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<p>The price of Axelar (AXL) has seen significant gains lately, pumping over 23% in the last 24 hours. This price action prompted <a href="https://twitter.com/rektbyhielke/status/1725484250453938208" target="_blank" rel="noopener noreferrer nofollow">crypto analyst @rektbyhielke</a> to take a closer look at what’s driving momentum for AXL.</p>
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<p><strong>Impressive Team Profile </strong></p>
<p>Through reviewing the Axelar team’s background, @rektbyhielke uncovered an impressive pedigree. Many team members previously worked at Chainlink, and two hail from JP Morgan, which is currently piloting Axelar’s technology.</p>
<p><strong>Strategic Investors</strong></p>
<p>Notably, one of Axelar’s early seed investors has a strong track record, backing successful projects like Chainlink and Avalanche previously. This provides credibility.</p>
<p>Binance Backing Furthermore of importance, Binance is a key AXL investor. While not yet listed on Binance Global, this connection could pave the way for a significant boost when that listing potentially materializes.</p>
<p><strong>Appealing Tokenomics</strong></p>
<p>@rektbyhielke also highlights Axelar’s tokenomics as geared towards venture capital investors, a model that tends to thrive in bull markets.</p>
<p>Technicals Point to Momentum Analyzing the 30-minute chart, @rektbyhielke identified spikes indicative of eager buyers entering AXL. The low volume makes it plausible that influencer promotion may have sparked automated buying.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/why-qubics-10000-explosion-outperformed-even-solanas-meteoric-rise/" target="_blank" rel="noopener noreferrer nofollow">Why QUBIC’s 10,000% Explosion Outperformed Even Solana’s Meteoric Rise</a></li>
 <li><a href="https://captainaltcoin.com/why-is-pivx-coin-pumping-here-are-reasons-behind-the-160-pump/" target="_blank" rel="noopener noreferrer nofollow">Why is PIVX Coin Pumping? Here Are Reasons Behind the 160% Pump</a></li>
 <li><a href="https://captainaltcoin.com/can-the-cronos-rollercoaster-soar-to-1-00-after-raising-1-5m-is-this-the-next-top-100-crypto/" target="_blank" rel="noopener noreferrer nofollow">Can the Cronos Rollercoaster Soar to $1.00? After Raising $1.5M, Is This the Next Top 100 Crypto?</a></li>
</ul>
<p>In summary, the impressive team pedigree, strategic investors like Binance, and bull market-friendly tokenomics provide fundamental justification for AXL’s price pump. The technical patterns exhibit momentum. With its cross-chain focus, Axelar appears well-positioned to capture more gains on both the technical and fundamental fronts.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-axelar-axl-price-pumping-binance-backing-and-strategic-tokenomics-attract-buyers/" rel="noopener noreferrer nofollow">Why Is Axelar (AXL) Price Pumping? Binance Backing and Strategic Tokenomics Attract Buyers</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Axelar (AXL) Price Pumping? Binance Backing and Strategic Tokenomics Attract Buyers

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