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Axelar (AXL) Price Jumps 14% In Recovery To New All-Time High

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11 months ago

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AXL, the native cryptocurrency of the multichain platform Axelar network which unifies Web3, has witnessed a strong 14% surge in the last 24 hours. As of press time, the Axelar (AXL) price is up by 12.75% trading at $1.21 with a market cap of $781 million. Interestingly, the daily trading volume for AXL has also surged by 76% in the last 24 hours which is currently at $38.5 million.

Axelar (AXL) Price Aiming for New All-Time High

The recent surge in the AXL price over the past 24 hours, brings the altcoin closer to its strong resistance of $1.26. If the AXL price manages to give a decisive breakout above $1.26, it can set the course for a new rally toward its all-time high levels and beyond.

Besides, the Axelar technical chart suggests that traders should prepare for a bullish trend in AXL after a confirmed breakout from the bearish pennant pattern observed in the 12-hour timeframe.

During the months of February, the AXL price rallied all the way to $2.36 amid the high staking activity of the AXL tokens. Since January 2024, the number of AXL stakers has more than doubled, increasing from 5,000 monthly stakers to over 10,000.

The total number of unique users staking their AXL tokens has reached 32,100. Over the past 30 days, an average of 56 new stakers per day have joined, totaling 1,800 new users.

In the last 10 days alone, an additional 26 million $AXL tokens have been staked, bringing the total staked amount of AXL to 759 million, which accounts for 66% of the total supply.

On the other hand, thereā€™s a strong demand currently going for asset tokenization with big players like BlackRock exploring this space. Axelar Network announces its mission to link all tokenization protocols with any blockchain, whether private or public, through an interoperability framework. Their infrastructure promises to be programmable, scalable, secure, and transparent end-to-end, ensuring seamless connectivity across diverse blockchain networks.

More About the Project

Axelar introduces itself as a platform offering ā€œsecure cross-chain communication for Web3.ā€ Their initiative centers on furnishing a decentralized network and toolkit tailored for developers of decentralized applications (dApps), facilitating seamless cross-chain communication via a suite of protocols, tools, and APIs.

The core framework of Axelar comprises three key elements: a decentralized network, a software development kit encompassing protocols and APIs, and a series of gateway smart contracts designed for cross-chain linkage.

Operated by a decentralized network of validators, Axelar offers an open invitation for participation, enabling users to contribute, build, or utilize its services. Application developers can engage with a user-friendly API layered atop a permissionless network, which orchestrates message routing and upholds network integrity through a proof-of-stake (PoS) consensus mechanism.

AXL serves as the native token of the Axelar network. Additionally, the protocol supports the cross-chain transfer of various native tokens via their wrapped ERC-20 counterparts, including AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC (Polygon).

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Coin and Bitcoin Dominate the $644M Weekly Inflow

Published

7 hours ago

on

March 24, 2025

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Ending a five-week streak of withdrawals, digital asset investment products saw a weekly inflow of $644 million. XRP and Bitcoin dominate the positive sentiment, marking a combined net inflow of $730 million. In the latest XRP news, the Ripple coin secured the second spot, contrasting with Ethereum, which experienced the highest outflows.

Letā€™s analyze the positive momentum of XRP and BTC, and explore its potential impact, especially in light of their ongoing rivalry.

XRP News: Bitcoin and Ripple Coin Lead Weekly Inflows

According to CoinSharesā€™ weekly report, the digital asset investment products marked a total inflow of $644 million. While Bitcoin dominated the inflows with a staggering $724 million, XRP ranked second with a notable inflow of $6.7 million.

Closely following XRP is Solana, with a notable inflow of $6.4 million. Other altcoins like Polygon and Chainlink have also seen modest gains of $0.4 million and $0.2 million, respectively.

Notably, Ethereum is the largest loser with a weekly outflow of $86 million. Sui and Short Bitcoin have also experienced significant outflows. Altcoins including Polkadot, Tron, and Algorand have also reported outflows of $1.3m, $0.95m, and $0.82m, respectively.

Bitcoin Sets Trend Reversal

For five consecutive weeks, the digital asset investment products had experienced a negative sentiment, marking significant outflows. Although Bitcoin bore the brunt of the outflows, it has now become the trendsetter, emerging as the biggest gainer of the week.

This development occurs amidst the increasing rivalry between XRP enthusiasts and Bitcoin maximalists. As XRPā€™s potential inclusion in the US reserve has sparked intense debate, Bitcoin manages to maintain its positive sentiment. Recently, XRP lawyer Bill Morgan highlighted the Trump governmentā€™s lean towards Bitcoin, asserting that it could undermine the countryā€™s crypto initiatives.

XRP Wins Japanese Payment Deal

Adding intrigue to the prevailing positive sentiment, a Japanese real-estate firm, Open House, has embraced XRP, DOGE, and SOL for payments. This marks a significant milestone for XRPā€™s adoption.

Amidst the ongoing Bitcoin vs XRP debate, Bill Morgan ridiculed BTC for being snubbed by the company, which instead chose XRP, along with Dogecoin (DOGE) and Solana (SOL). His tweet read, ā€œBut not Bitcoin for payments?ā€

However, his tweet was promptly contradicted as Open House previously selected BTC and ETH for payments. In January, the real-estate firm embraced debuted crypto payments Bitcoin and Ethereum. In the latest development, the company expanded its crypto payment options, including XRP, DOGE, and SOL.

āœ“ Share:

Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Why Trump’s World Liberty Financial Stacked 6 Million MNT?

Published

8 hours ago

on

March 24, 2025

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Donald Trumpā€™s World Liberty Financial has again sent shockwaves across the broader market with its recent token accumulation saga this Monday. The U.S. President-backed firm accumulated nearly $3M worth of MNT tokens, bringing its total Mantle Network holdings to a whopping 6 million tokens. Notably, this accumulation follows a major mainnet hard fork upgrade on the cryptoā€™s ecosystem.

Trumpā€™s World Liberty Financial Stacks Up MNT Amid Hard Fork Upgrade

The latest data from Arkham Intelligence suggests that World Liberty Financial swapped 3 million USDC for 3.54 million Mantle Network coins. With this recent accumulation, the firmā€™s MNT holdings totaled 5.99 million tokens at an average price of $0.78.

Intriguingly, CoinGape found that the firm also bagged 725.568K coins a week ago, per Arkham data. Another transaction from the same time period surfaced, showcasing 884.726K coin accumulation for the same crypto.

Overall, WLFI accumulations occur in tandem with the completion of Mantle Networkā€™s mainnet hard fork upgrade, which sparked significant investor curiosity.

Mantle Network Mainnet Hard Fork Upgrade: Whatā€™s The Buzz?

Last week, the cryptoā€™s community revealed in an X post that the new hard fork upgrade is complete. This upgrade brings new technical updates such as EigenDA, support for RIP-7212, and more to the ecosystem.

EigenDA stands as a secure, high-output, decentralized data availability service on Ethereum. Overall, this update garnered significant optimism across the industry, whereas World Liberty Financialā€™s token accumulation added to the market buzz.

Mantle Network Price Shoots Up 8%

As of press time, MNT price witnessed an 8% pump in value, closing in at $0.8449. The crypto bottomed and peaked at $0.7828 and $0.8467 in the past 24 hours. Intriguingly, the rising price action amid the optimistic developments such as WLFIā€™s accumulations and the network upgrade ignited investor bullishness on future prospects.

On the other hand, Coinglass data continued solidifying this bullishness, underscoring strong market demand for the asset. Mantle Networkā€™s futures OI soared 17% intraday, reaching $25.42 million. On the other hand, the derivatives volume also witnessed a staggering 582% surge to $20.96 million. As a result, crypto market watchers weigh substantial market optimism on the tokenā€™s upcoming movements.

Also, itā€™s worth mentioning that aĀ Mantle Network price prediction by CoinGape revealed that the cryptoā€™s technical chart on the weekly time frame illustrates a bullish engulfing pattern. This pattern suggests a strong momentum favoring buyers, such as Trumpā€™s organization.

Some other tokens held by World Liberty Financial include ETH, TRX, MOVE, AVAX, etc. Intriguingly, CoinGape previously reported that WLFI completed its token sale, raising a total of $550 million, another landmark achievement in the industry.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s How Pi Coin May Retain The $1 Mark

Published

9 hours ago

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March 24, 2025

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Pi Network price has continued to stay in the red, losing more than 6% during writing. With the crypto losing the brief $1 support, speculations are high among market watchers over the future performance of the asset. Amid this, a renowned expert has how Pi Coin might retain the $1 support.

Pi Network Price Slips Below $1

Pi price today has traded at $0.9432, down 6.3% from yesterday and its one-day volume rose 12% to $284.36 million. Notably, the crypto has managed to soar past the $1 mark today in the last 24 hours, while dropping to a low of $0.9109. Besides, a Pi price prediction indicates that the crypto might slip to $0.71 in April.

Notably, it appears that the recent decline comes due to a lack of any positive catalysts in the market. For context, the leading crypto exchange Binance hasnā€™t confirmed the listing on its platform, which has dampened the investorsā€™ confidence. On the other hand, the lack of any major announcement from the Pi Core team has further weighed on the sentiment.

Whatā€™s Next For The Crypto?

According to Pi Coin enthusiast Dr Altcoin on X, the recent influx of unlocked Pi coins on centralized exchanges (CEXs) has led to a surge in circulating supply. To counter this, the Pi Team may need to burn an additional 60-100 million coins in the coming days. This move, which Dr Altcoin believes, could help drive Pi Network price back to the $1 mark.

While investors remain cautious, Dr. Altcoinā€™s prediction offers a glimmer of hope for Pi Coinā€™s future. However, with the upcoming token unlocks and other factors, he urged investors to exercise due diligence before putting their bets into the asset.

Pi Network Unlock Looms: Hereā€™s All

With the upcoming token unlocks, market watchers are speculating over the future trajectory of the Pi Coin. For instance, a total of 97.65 million Pi, worth around $93 million at the current price, will be unlocked over the next 30 days. The average unlock stands at 3.25 million tokens a day and the highest unlock will be around 6.8 million Pi coin on April 3.

On the other hand, PiScan data showed that 115.57 million tokens will be unlocked in April, followed by 182 million and 222 million in May and June, respectively. Having said that, these massive unlocks might continue to add pressure on the tokenā€™s future performance. But, as Dr Altcoin suggested, if the Pi Core Team decides to conduct the token burns, it could help offset the pressure on the Pi Network price.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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