In an exciting update from the cryptocurrency sector, the prominent exchange Binance has decided to add Axelar (AXL) to its platform. This move resulted in a significant increase in AXL’s market value.
Embracing Axelar: New Trading Opportunities
Starting today at 14:30 local time, Binance will pair AXL with Bitcoin (BTC), Tether (USDT), FDUSD, and the Turkish Lira (TRY), expanding the trading horizons for its clientele. The inclusion of AXL on Binance’s platform reflects the exchange’s commitment to fostering the project’s expansion and its integration into the wider cryptocurrency landscape.
Acknowledging its support, Binance has set the AXL’s listing fee at zero BNB. The preliminary phase has seen the commencement of AXL deposit services, enabling users to transfer AXL into their Binance accounts in readiness for the trading launch, with withdrawal options slated to become available on March 2, 2024, at the same time trading commences.
Surge in AXL Value Post-Listing News
The announcement from Binance triggered an immediate and sharp ascent in AXL’s price, recording an over 16% boost within just 24 hours, as observed on CoinMarketCap, with the price touching $1.79. It is evident from AXL’s earlier price point of approximately $1.54, prior to the listing news, that the uptick in value is directly attributable to its new availability on Binance.
Axelar’s network aims to enhance blockchain interoperability, facilitating seamless connections between disparate blockchains, assets, and applications. The AXL token lies at the heart of this infrastructure, serving multiple key roles in its ecosystem.