Altcoin
Axelar (AXL) Price Jumps 14% In Recovery To New All-Time High
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.
š LONG: #AXLUSDT | $AXL | 12h
Traders should anticipate a bullish trend for AXL following a confirmed bearish pennant breakout in the 12-hour timeframe.
š See more: https://t.co/wfDqnUIcnt pic.twitter.com/7IbaoPvyWg
ā Crypto | #1 Free Signals (@best_analysts) May 2, 2024
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.
With an additional staked 26 million $AXL in the last 10 days, the collective staked amount of AXL has surged to 759 million, constituting 66% of the total supply.
From its launch onwards, the @axelarnetwork has attracted nearly 32.1k unique stakers.
Let’s Dive in š pic.twitter.com/kL5ZiHx3BS
ā Hess (@0xhess) April 27, 2024
On the other hand, thereās 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.
Axelar will connect all tokenization protocols to any blockchain (private or public), over interoperability infrastructure that is:
šļø Programmable
š Scalable
š Secure
š Transparent end-to-end
š¦¾š https://t.co/UevzKhgtrjā Axelar Network (@axelarnetwork) April 29, 2024
More About the Project
Axelar introduces itself as a platform offering āsecure 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).
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.
Cardano price is repeating a pattern from 2024 that experts say is a signal for a massive pump in the coming weeks. While present figures are largely underwhelming for ADA, investors are brimming with confidence for a strong reversal in the near future.
Cardano Price Can Reach $2.5 In May
According to pseudonymous cryptocurrency analyst Master Kenobi, Cardano price is exhibiting cyclical behavior. In a post on X, Master Kenobi notes that ADAās consolidation in recent days mirrors its price action from Q3 of 2024.
At the time, Cardanoās price suffered a steep correction in early August and endured a lengthy consolidation period before rallying. Presently, Cardanoās price is consolidating after the deep in early February that sent prices to $0.49.
āADA is currently in a consolidation phase that resembles its behavior from August-September 2024,ā said Master Kenobi. āSince the dip on August 5, it hasnāt recorded a new low ā just as it hasnāt now, following the dip on February 3.ā
According to Master Kenobi, a lengthy consolidation phase will be the precursor for an impressive rally for Cardanoās price. The analyst theorizes that the incoming rally will send Cardano to impressive levels in May. In the short term, analysts are eyeing ADA to hit $1, citing rising whale activity and positive fundamentals.
āIf this pattern holds, May could bring a massive pump, potentially pushing the price toward $2.5,ā said Master Kenobi.
ADA Ripples With Bullish Activity
At the moment, Cardano price is trading at $0.6646, a far cry from its all-time high of $3.10. Despite the lull in price action, the ecosystem is brimming with bullish activity for higher valuation.
Investors have their eyes on $10 after ADA outperformed top S&P 500 companies in a strong show of resilience. Futhermore, increased whale activity in the space is signaling an impending rally for ADA as community sentiment reaches an all-time high.
Analysts have opined that an ADA rally to $10 is not a crazy prediction, citing a slew of positive fundamentals for the network. However, pundits are urging investors to brace for multiple corrections in the march to reach a valuation of $10.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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.
Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, he alluded to historical trends to explain why the altcoin can hit a new all-time high (ATH) in 90 to 120 days.
Why The XRP Price Can Hit ATH In 90 To 120 Days
In an X post, Egrag Crypto alluded to historical patterns to explain why the XRP price can hit a new ATH in the next 90 to 120 days. He noted that the RSI chart shows important historical patterns and stated that the altcoin usually has two peaks during its bull runs.
The crypto analyst further revealed that in 2021, the second peak occurred after 90 days, while in 2017, it occurred after 120 days. Based on this, Egrag Crypto affirmed that this historical timeframe provides market participants with a potential for a āgreat opportunity,ā hinting at the altcoin hitting a new ATH.
In another post, he raised the possibility of the XRP price reaching a new ATH of $3.9 by May. This came as he identified an Inverse Head and Shoulder pattern, which was forming for the altcoin. The crypto analyst stated that the measured move is $3.7 to $3.9.
For now, an XRP analysis has shown that the altcoin is struggling at $2.15 amid regulatory uncertainty over SEC Chair nominee Paul Atkins. In his update on this Inverse Head and Shoulder pattern, Egrag Crypto remarked that a close above $2.24, the Fib 0.888, is the next minor target. He affirmed that the pattern is still unfolding as anticipated.
Rippleās Native Token Could Still Drop Below $2
Crypto analyst Dark Defender has predicted that the XRP price could still drop below $2 before the next leg up. In an X post, he stated that Rippleās native token is in the 4th Wave of the Monthly Elliott Wave structure.
His accompanying chart showed that XRP could drop to as low as $1.88 on this Wave 4 corrective move. Once that is done, the altcoin will witness its next leg up, rallying to as high as $5.8, which would mark a new ATH.
Dark Defender assured that Wave 4 will end soon and that XRP will continue to reach its targets. The crypto analyst recently affirmed that the altcoin is the āoneā and explained why it would dominate Bitcoin and Ethereum.
Crypto analyst CasiTrades also suggested that XRP could further decline before its next leg to the upside. She noted that after the drop to $2.27, the altcoin showed no bullish RSI divergence, which signaled that the drop wasnāt quite done yet.
She added that the coin is now likely heading down to test the 0.618 golden retracement at $2.17, or possibly the golden pocket at $2.15 for a final low before ālift-off.ā However, CasiTrades also mentioned that RSI is starting to build the bullish divergence and that the selling pressure is exhausting.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
Gemini, the crypto exchange founded by the Winklevoss twins, is promoting its previously launched XRP cashback program, which offers crypto rewards to users. This initiative allows eligible participants to earn rewards on their XRP transactions. Hereās a look at the program details and the steps required to join.Ā
Gemini Founder Unveils XRP Cashback Rewards
On March 27, Tyler Winklevoss reminded the XRP community and Ripple army on X (formerly Twitter) that they can earn rewards in the token whenever they use the Gemini Credit Card for purchases. The Gemini credit card, launched in partnership with Mastercard in 2021, allows users to choose cryptocurrencies from Bitcoin, Ethereum, XRP, and over 50 other digital assets for cashback.
Since adding XRP to its long portfolio of crypto cashback offerings in August 2023, Gemini has continued to support the third-largest cryptocurrency as an option for crypto enthusiasts. The Credit Card reward information announced by Winklevoss was well received by the XRP community.
He explained that the Gemini Credit Card allows users to earn crypto back each time they spend fiat. He clarified that this feature is only available to residents in the United States (US) currently. The Gemini founder also revealed that he has been using the Credit Card for years and has had a great experience accumulating significant crypto rewards from the cashback program.
Geminiās Credit Card offers tiered cashback rates depending on the purchase categories. A 4% XRP cashback is offered on gas and EV charging, with up to $200 monthly. A 1% XRP cashback is available for fuel and EV charging after exceeding the monthly limit. Finally, a 3%, 2%, and 1% XRP cashback is provided for dining, groceries, and other purchases, respectively.Ā
As XRP continues to push for widespread adoption, this Gemini cashback reward program strengthens its utility and encourages greater usability and investments.Ā
Notably, Gemini isnāt the only crypto exchange embracing XRP in its rewards programs. Platforms like WhiteBIT and Bit2Me have also introduced similar programs. By offering an XRP cashback, Gemini and other crypto exchanges can make crypto more accessible, encourage faster adoption, and reinforce XRPās role as a digital payment solution.Ā
How To Participate In Geminiās XRP Cashback
Gemini has specified that users interested in earning XRP rewards from Geminiās cashback program must first qualify for the exchangeās Credit Card, which depends on their credit score. Approved applicants must secure their cards by June 30, 2025, to participate in the promotional offer.Ā
The crypto exchange also stated that new cardholders could earn up to $200 in XRP cashback if they spend at least $3,000 within the first 90 days. Once earned, the XRP reward will be automatically deposited into their trading accounts on Gemini, enabling users to hold, trade, or sell whenever they wish. The Credit Card also comes with no extra annual, exchange, or foreign transaction fees, allowing crypto users to grow their portfolios continually.Ā
Featured image from SCMP, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Marathon Digital to Sell $2 Billion in Stock to Buy Bitcoin
Donāt Fall for These Common Crypto Scams
US Macroeconomic Indicators This Week: NFP, JOLTS, & More
This Is How Dogecoin Price Reacted To Elon Muskās Comment
Ethereum Is ‘Completely Dead’ As An Investment: Hedge Fund
Bitcoin Price Nears $80,000; Fuels Death Cross Potential
2.52 Million Altcoins Are Ruining Cryptoās Future
Animoca Brands Valuation Tanks 75% In Two Years, Hereās Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kongās Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Cryptoās Future
Animoca Brands Valuation Tanks 75% In Two Years, Hereās Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kongās Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum23 hours agoEthereum Analyst Eyes $1,200-$1,300 Level As Potential Acquisition Zone ā Details
-
Ethereum22 hours agoWhales Accumulate 470,000 Ethereum In One Week ā Bullish Momentum Ahead?
-
Ethereum24 hours agoEthereum May Have Hit Cycle Bottom, But Pricing Bands Signal Strong Resistance At $2,300
-
Bitcoin23 hours agoGold Keeps Outperforming Bitcoin Amid Trumpās Trade War Chaos
-
Regulation19 hours agoJapan Set To Classify Cryptocurrencies As Financial Products, Hereās All
-
Market18 hours agoTop 3 Made in USA Coins to Watch This Week
-
Market23 hours agoBitcoin (BTC) Whales Accumulate as Market Faces Uncertainty
-
Altcoin22 hours ago
Analyst Reveals Why The XRP Price Can Hit ATH In The Next 90 To 120 Days
ā Share: