Axelar (AXL) has been under significant scrutiny due to both bullish and bearish trends. With a
price drop possibly on the horizon, the recent announcement of Canary Capital launching the
Canary AXL Trust marked a 14% jump in its price. The introduction of the
trust aims to provide expanded institutional crypto investment offerings specifically for AXL, the token powering the Axelar Network. This move showcasing the intent to create an
ETF tracking Axelar has made a compelling impact on price trends.
Despite the uncertainty in AXL's future performance, it has been identified as a potential asset for significant gains in the upcoming 30 days. On the innovation front,
Axelar is working on building blockchain interoperability in the crypto world and is planning to develop Web3 services in partnership with Microsoft Azure. This approach signifies a noteworthy drive towards
secured and seamless interoperability, indicating a breakthrough for the Axelar network. However, the altcoin also faces the imminent unlocking of a significant volume of tokens, which could potentially disrupt the market.
It's also important to take note of the recent strategic
Axelar-Ripple partnership aiming to enhance XRP ledger. This move, combined with the approval of Axelar’s ETF application, could play a crucial role in boosting AXL’s market performance and price. Toward the end of the time period, AXL was removed from specific Binance trading pairs, causing concern about a potential price drop.
AXL Coin News Analytics from Sat, 28 Aug 2010 07:00:00 GMT to Fri, 28 Mar 2025 06:17:50 GMT -
