Axelar

Secure

April

BlackRock

AXL, the native cryptocurrency of the multichain platform Axelar network which unifies Web3, has witnessed a strong 14% surge in the last 24 hours. As of press time, the Axelar (AXL) price is up by 12.75% trading at $1.21 with a market cap of $781 million. Interestingly, the daily trading volume for AXL has also surged by 76% in the last 24 hours which is currently at $38.5 million. 
<h3 id="axelar-axl-price-aiming-for-new-all-time-high">Axelar (AXL) Price Aiming for New All-Time High</h3> 
The recent surge in the <a href="https://coingape.com/axelar-axl-price-soars-30-amid-binance-listing-announcement/" target="_blank" rel="noopener">AXL price</a> over the past 24 hours, brings the altcoin closer to its strong resistance of $1.26. If the AXL price manages to give a decisive breakout above $1.26, it can set the course for a new rally toward its all-time high levels and beyond. 
Besides, the Axelar technical chart suggests that traders should prepare for a bullish trend in AXL after a confirmed breakout from the bearish pennant pattern observed in the 12-hour timeframe. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> LONG: <a href="https://twitter.com/hashtag/AXLUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#AXLUSDT</a> | <a href="https://twitter.com/search?q=%24AXL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AXL</a> | 12h 
 Traders should anticipate a bullish trend for AXL following a confirmed bearish pennant breakout in the 12-hour timeframe. 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f517.png" alt="🔗" class="wp-smiley" style="height: 1em; max-height: 1em;"> See more: <a href="https://t.co/wfDqnUIcnt">https://t.co/wfDqnUIcnt</a> <a href="https://t.co/7IbaoPvyWg">pic.twitter.com/7IbaoPvyWg</a> 
 — Crypto | #1 Free Signals (@best_analysts) <a href="https://twitter.com/best_analysts/status/1785940846959063522?ref_src=twsrc%5Etfw">May 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
During the months of February, the AXL price rallied all the way to $2.36 amid the high <a href="https://coingape.com/glossary/staking/" target="_blank" rel="noopener">staking activity</a> of the AXL tokens. Since January 2024, the number of AXL stakers has more than doubled, increasing from 5,000 monthly stakers to over 10,000. 
The total number of unique users staking their AXL tokens has reached 32,100. Over the past 30 days, an average of 56 new stakers per day have joined, totaling 1,800 new users. 
In the last 10 days alone, an additional 26 million $AXL tokens have been staked, bringing the total staked amount of AXL to 759 million, which accounts for 66% of the total supply. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 With an additional staked 26 million <a href="https://twitter.com/search?q=%24AXL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AXL</a> in the last 10 days, the collective staked amount of AXL has surged to 759 million, constituting 66% of the total supply. 
 From its launch onwards, the <a href="https://twitter.com/axelarnetwork?ref_src=twsrc%5Etfw">@axelarnetwork</a> has attracted nearly 32.1k unique stakers. 
 Let's Dive in <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/kL5ZiHx3BS">pic.twitter.com/kL5ZiHx3BS</a> 
 — Hess (@0xhess) <a href="https://twitter.com/0xhess/status/1784297199381135462?ref_src=twsrc%5Etfw">April 27, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
On the other hand, there’s a strong demand currently going for asset tokenization with big players like <a href="https://coingape.com/breaking-hedera-and-archax-enable-first-tokenized-blackrock-mmf-shares/" target="_blank" rel="noopener">BlackRock</a> exploring this space. Axelar Network announces its mission to link all tokenization protocols with any blockchain, whether private or public, through an interoperability framework. Their infrastructure promises to be programmable, scalable, secure, and transparent end-to-end, ensuring seamless connectivity across diverse blockchain networks. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Axelar will connect all tokenization protocols to any blockchain (private or public), over interoperability infrastructure that is: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f58a.png" alt="🖊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Programmable <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f30e.png" alt="🌎" class="wp-smiley" style="height: 1em; max-height: 1em;"> Scalable <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f48e.png" alt="💎" class="wp-smiley" style="height: 1em; max-height: 1em;"> Secure <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50e.png" alt="🔎" class="wp-smiley" style="height: 1em; max-height: 1em;"> Transparent end-to-end <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9be.png" alt="🦾" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/UevzKhgtrj">https://t.co/UevzKhgtrj</a> 
 — Axelar Network (@axelarnetwork) <a href="https://twitter.com/axelarnetwork/status/1784952368452264085?ref_src=twsrc%5Etfw">April 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="more-about-the-project">More About the Project</h3> 
Axelar introduces itself as a platform offering “secure cross-chain communication for Web3.” Their initiative centers on furnishing a decentralized network and toolkit tailored for developers of decentralized applications (dApps), facilitating seamless cross-chain communication via a suite of protocols, tools, and APIs. 
The core framework of Axelar comprises three key elements: a decentralized network, a software development kit encompassing protocols and APIs, and a series of gateway smart contracts designed for cross-chain linkage. 
Operated by a decentralized network of validators, Axelar offers an open invitation for participation, enabling users to contribute, build, or utilize its services. Application developers can engage with a user-friendly API layered atop a permissionless network, which orchestrates message routing and upholds network integrity through a proof-of-stake (PoS) consensus mechanism. 
AXL serves as the native token of the Axelar network. Additionally, the protocol supports the cross-chain transfer of various native tokens via their wrapped ERC-20 counterparts, including AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC (Polygon). 
The post <a href="https://coingape.com/axelar-axl-price-jumps-14-in-recovery-to-new-all-time-high/">Axelar (AXL) Price Jumps 14% In Recovery To New All-Time High</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Axelar (AXL) Price Jumps 14% In Recovery To New All-Time High

Table of Contents

Coingape News Media

Other articles published on May 2, 2024

Shibarium Set For Major Upgrade: Which Turn Will Shiba Inu Price Take From Here?

Market Turns Red As Cardano Volume Dips & Chainlink Price Challenges While BlockDAG Mobile Mining...

Binance introduces ARC-20 integration and zero-fee trading promotion

Hundred Finance hacker moves stolen assets a year after $7M exploit

XRP’s price reels from Bitcoin’s fall below $60,000: Will $0.5 hold?

US Lawmakers Push SEC Chair To Greenlight Bitcoin ETF Options

Join our free newsletter for daily crypto updates!