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Axelar

AXL

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About Axelar

Axelar is an interoperability solution, and provides the infrastructure needed for seamless and secure cross-chain communication among decentralized applications.

Axelar is a decentralized network that strives to facilitate secure cross-chain communication for Web3. It provides a suite of tools and APIs that assist developers in creating decentralized applications (dApps) with seamless cross-chain communication. The network is composed of three core components: a decentralized network, a software development kit of protocols and APIs, and a set of gateway smart contracts for cross-chain connectivity. Axelar's native token, AXL, plays an important role within the network. The platform also supports the cross-chain transfer of several native tokens via their wrapped ERC-20 versions.

Axelar operates through a decentralized network of validators, enabling anyone to join, build on, or use the network. Application builders can interact with a simple API atop this permissionless network, which routes messages and ensures network security via a proof-of-stake consensus mechanism. Axelar's approach to secure cross-chain communication involves a dynamic validator, setting it apart from projects using optimistic setups and federated multi-sig. The platform has also developed protocols, APIs, and developer tools that simplify the process of building cross-chain applications.

Axelar aims to provide a platform for developers to build cross-chain applications without requiring a new programming language. The network's value proposition to developers is the ability to build on the chain that best suits their use case and background, while allowing their users to access anything on the decentralized web with a single click. Furthermore, Axelar's support for the cross-chain transfer of several native tokens increases its potential use cases, enabling seamless interaction between different blockchain ecosystems.

Axelar was launched in 2020 by Georgios Vlachos and Sergey Gorbunov, both of whom were part of the founding team at Algorand. Georgios designed the Algorand consensus protocol, while Sergey led the effort to standardize BLS signatures, a standard now adopted as a draft in CFRG and followed by Ethereum 2.0 implementations among others. Axelar has since attracted resources from various investors. In December 2022, Axelar launched a $60 million development support program aimed at accelerating the development of decentralized applications and protocols.

Market

Canada Market Stats

Market cap

CA$1.1B

Volume (24h)

CA$34.1M

Circulating supply

647.6M AXL

Typical hold time

34 days

Popularity

#98

All time high

CA$5.11

Canada Market performance

Price change (1h)

-0.34%

Price change (1d)

+3.06%

Price change (1w)

+17.46%

Price change (2w)

+1.57%

Price change (1m)

-25.32%

Price change (1y)

+115.84%

Canada News about Axelar

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Why Cosmos DeFi Hub Osmosis Is Launching a Bitcoin L2

Osmosis, a Cosmos-based blockchain known for its decentralized exchange, is entering the Bitcoin layer 2 race. It’s the latest indicator of burgeoning Bitcoin developer activity.  Osmosis next month is set to roll out “alloyed bitcoin,” the latest in a number of in-house products designed to simp...

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CoinDesk • May 03, 24

Full Transcript: Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.

MoonPay co-founder and CEO Ivan Soto-Wright joins CDTV's "First Mover" to discuss MoonPay's recent partnership with PayPal.

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DL News • May 03, 24

Liquidity providers rake in big bucks as influencers rush to sell their FRIEND airdrop tokens

Friend.tech's airdrop went live today, seeing over $65 million in trading volume which generated over $1 million in fees.

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Decrypt • May 03, 24

MicroStrategy Orange: Everything You Need to Know About Decentralized ID on Bitcoin

The largest institutional holder of Bitcoin is getting into decentralized identity. But how does MicroStrategy Orange work?

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Bitcoin Magazine • May 03, 24

The Institutions Are Coming: The Dawn Of A New Era At This Year’s MicroStrategy World — Bitcoin For Corporations Conference

For the fourth year in a row, MicroStrategy Executive Chairman Michael Saylor shared his company’s Bitcoin playbook with Bitcoin-curious Fortune 1000 firms.

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BeInCrypto • May 03, 24

Pension Funds Explore Bitcoin ETF Investments: Fidelity

Following the approval of Bitcoin ETFs, pension funds are considering crypto investments, reflecting a significant shift in traditional financial strategies and potential mainstream acceptance.The post Pension Funds Explore Bitcoin ETF Investments: Fidelity appeared first on BeInCrypto.

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Social

Some highlights about Axelar on social media

246 unique individuals are talking about Axelar and it is ranked #441 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Axelar has an average sentiment score of 3.3 out of 5. Finally, Axelar is becoming less newsworthy, with 0 news articles published about Axelar. This is a 100% decrease in news volume compared to yesterday.

On Twitter, people are mostly neutral about Axelar. There were 35.19% of tweets with bullish sentiment compared to 3.7% of tweets with a bearish sentiment about Axelar. 61.11% of tweets were neutral about Axelar. These sentiments are based on 54 tweets.

On Reddit, Axelar was mentioned in 65 Reddit posts and there were 135 comments about Axelar. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

246 people

Volume rank

#441

Average Sentiment

3.3 out of 5

Twitter

Reddit

Posts

65

Comments

135

Post Score

1,776

Comment Score

1,901

Coinbase Bytes

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

Axelar is on the rise this week.

The price of Axelar has decreased by 0.34% in the last hour and increased by 3.06% in the past 24 hours. Axelar’s price has also risen by 17.46% in the past week. The current price is CA$1.71 per AXL with a 24-hour trading volume of CA$34.13M. Currently, Axelar is valued at 66.54% below its all time high of CA$5.11. This all-time high was the highest price paid for Axelar since its launch.

The current circulating supply of Axelar is 647,622,281.567 AXL which means that Axelar has as total market cap of 647,622,281.567.

FAQ

What is the current price of Axelar?

We update our Axelar to CAD currency in real-time. Get the live price of Axelar on Coinbase.

What is the market cap of Axelar?

The current market cap of Axelar is CA$1.10B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Axelar?

The all-time high of Axelar is CA$5.11. This all-time high is highest price paid for Axelar since it was launched.

What is the 24 hour trading volume of Axelar?

Over the last 24 hours, the trading volume of Axelar is CA$34.13M.

What other assets are similar to Axelar?

Assets that have a similar market cap to Axelar include WOO Network, Osmosis, Bonk, and many others. To see a full list, see our comparable market cap assets.

How many Axelar are there?

The current circulating supply of Axelar is 648 million.

What is the typical holding time of Axelar?

The median time that Coinbase customers hold Axelar before selling it or sending it to another account or address is 34 days.

What is the relative popularity of Axelar?

Axelar ranks 179 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Axelar?

Currently, 100% of Coinbase users are buying Axelar. In other words, 100% of Coinbase customers have increased their net position in Axelar over the past 24 hours through trading.

Can I buy Axelar on Coinbase?

Yes, Axelar is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Axelar guide.