An under-the-radar altcoin, Axelar (AXL), has surged to new heights after its surprise listing on Binance, the world’s largest cryptocurrency exchange.
Interoperability Platform
AXL is an interoperability platform that allows different blockchains to communicate with each other. It aims to simplify cross-chain transactions and make it easier for developers to build applications that work across multiple networks.
All-Time High
After Binance announced the listing, AXL’s price soared to a new all-time high of $2.64. At the time of writing, it is trading at $1.94, still significantly higher than its price 24 hours ago.
Seed Tag
Binance has attached a “seed” tag to AXL, indicating that it has lower liquidity and higher volatility potential. Users who own AXL are required to take quizzes every 90 days to acknowledge the risks associated with the asset.
Virtual Machine
AXL has also introduced a new virtual machine that allows developers to write smart contracts on Axelar and scale their interchain deployments.
Disclaimer
This article does not constitute investment advice. Investors should conduct their own research before making any investments in cryptocurrency.
