Axelar

AXL Price

What is Axelar

Axelar powers the interchain future.

Axelar is a programmable blockchain interoperability layer that spans all of Web3. That means application users can interact with any asset, any application, on any chain, with one click. You can think of it as Stripe for Web3.

Developers interact with a simple API atop a permissionless network that routes messages and ensures network security via proof-of-stake consensus.

What Makes Axelar Unique?

Most cross-chain solutions are bridges, which carry risk in the form of wrapped tokens and weak security. Axelar is a blockchain that connects blockchains, providing a programmable interchain layer that is Turing-complete: it can support any logic. As such, Axelar delivers features other cross-chain providers cannot duplicate. For example, Axelar supports:

- General Message Passing (GMP), allowing applications to compose functions across ecosystems, including Cosmos-EVM.

- A full-featured block explorer, Axelarscan, with metrics to track interchain growth and activity. 

- One-time cross-chain deposit addresses that allow decentralized applications to onboard any token, with UX to rival that of centralized exchanges.

- Axelar is built on proof-of-stake, the decentralized approach used by many of the chains it connects.Most other solutions are permissioned multisigs.

History of Axelar

Axelar was founded in 2020 by Algorand veterans Sergey Gorbunov and Georgios Vlachos. The white paper, released in 2021, pioneered ideas like arbitrary message passing cross-chain. Axelar's backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. In February, 2022, the network launched to mainnet. Since then, Axelar has integrated 36+ blockchains, including Cosmos and EVM. About 100 projects are building on top of the network from multiple ecosystems.

What’s Next for Axelar

In February, 2023, at the Axelar-hosted Interop Summit at ETHDenver, Axelar announced the upcoming release of the Axelar Virtual Machine. Powered by Cosmwasm, the Axelar Virtual Machine turns interoperability into a programmable layer. It enables developers to write smart contracts on Axelar, while scaling their interchain deployments and “programming” the cross-chain networking layer. 

What Can Axelar's Native Token ($AXL) be Used For?

To provide secure interoperability, Axelar network uses battle-tested proof-of-stake consensus. Network validators produce new blocks, participate in multiparty signing and vote on external chain states. As such, the native token $AXL has three important roles: 1) Tokenholders stake $AXL, delegating tokens to a validator’s staking pool and receiving rewards, minus the validator’s commission. 2) $AXL is used for governance, allowing stakers to exercise governance over proposals, such as a parameter change or protocol upgrade. 3) $AXL is used to pay network transaction fees to validators and tokenholders, but users of the Axelar network do not need to hold the token. Conversions into $AXL tokens and destination-chain tokens are handled on the back end via smart-contract logic, so that users need only pay gas once, in the source-chain token.

To learn more about Axelar, please check out the following articles:

• The AXL Token & the Interchain Future

• What Is General Message Passing and How Can It Change Web3?

• These Growth Metrics are Replacing TVL on Axelar & Across the Interchain

Where can you buy Axelar?

AXL tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Axelar is Binance, where the most active trading pair AXL/USDT has a trading volume of $1,581,979.26 in the last 24 hours. Other popular options include Coinbase Exchange and Bybit.

What is the daily trading volume of Axelar (AXL)?

The trading volume of Axelar (AXL) is $11,328,810.45 in the last 24 hours, representing a -21.90% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Axelar (AXL)?

Axelar (AXL) reached an all-time high of $2.64 and an all-time low of $0.03439. It’s now trading -98.00% below that peak and 50.20% above its lowest price.

What is the market cap of Axelar (AXL)?

Market capitalization of Axelar (AXL) is $64,287,784 and is ranked #409 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of AXL tokens (1.2 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Axelar (AXL)?

The fully diluted valuation (FDV) of Axelar (AXL) is $64,828,348. This is a statistical representation of the maximum market cap, assuming total number of 1.3 Billion ETH tokens are in circulation today.

How does the price performance of Axelar compare against its peers?

With a price decline of -1.40% in the last 7 days, Axelar (AXL) is underperforming the global cryptocurrency market which is up 2.80%, while underperforming when compared to similar Made in USA cryptocurrencies which are up 0.40%.

How to add Axelar (AXL) to MetaMask?

Adding Axelar (AXL) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import AXL as a token. You can copy AXL’s contract address (0x467719ad09025fcc6cf6f8311755809d45a5e5f3) and import it manually, or if you've installed MetaMask's chrome extension, add AXL to MetaMask with one click on CoinGecko.

Add AXL to MetaMask.