Axelar’s AXL token has increased by an amazing 81% in today’s erratic cryptocurrency market after it was announced that it will be listed on Binance, the biggest cryptocurrency exchange in the world. Directly from Binance, the listing news set off a frenzy of trading activity that propelled AXL’s price to $2.73 per token, an astounding rise from its pre-announcement level of $1.49.
As traders expect greater liquidity and exposure, Binance listings are frequently connected with fast price volatility. Notably, within eight minutes of the listing announcement, one trader profited handsomely from the news, netting a tidy $56,028.
https://x.com/spotonchain/status/1763476569060688047?s=20
Axelar’s explosive growth coincides with its introduction as a secure cross-chain Web3 communication solution. The goal of the project is to enable smooth communication between decentralised apps (dApps) on various blockchains through its decentralised network and toolkit.
What is known about Axelar (AXL)?
Axelar made news earlier this week when it announced a cooperation with Ripple. The partnership seeks to improve the XRP Ledger’s interoperability, opening the door for the tokenization of tangible assets. Developers will have access to over 55 blockchains by utilising Axelar’s protocol, which will allow for the cross-chain deployment of dApps on the XRPL.
Axelar’s dedication to promoting blockchain interoperability and increasing the usefulness of decentralised finance applications is emphasised by this agreement.
Axelar is positioned for future development and acceptance within the blockchain ecosystem thanks to its strategic relationships and listings on well-known exchanges like Binance, as the cryptocurrency market continues to shift.
