The low-key interoperability-focused altcoin hit an all-time high after Binance announced it would list the asset.
Axelar (AXL) is a programmable Web3 interoperability platform aimed at providing cross-chain communication between numerous blockchains.
Describing the project website:
“Unlike other cross-chain connectors, Axelar is a proof-of-stake blockchain and can do anything you can do on a blockchain. Transparent smart contracts built on top of Axelar automate your path and Reduce it to a single click. Permissionless tools reduce developer overhead.”
The project's native asset, AXL, is trading at $1.94 at the time of writing, up nearly 27% from its price 24 hours ago. The crypto asset, which ranks 90th in terms of market capitalization, also soared to $2.64 early Friday, a new all-time high, hours after the listing was announced.
Binance has placed a seed tag on AXL. The exchange applies seed tags to illiquid tokens that may be subject to high volatility, and users who own tagged assets are given 90 days to ensure they are aware of the inherent risks. You must pass each quiz.
Axelar also announced new virtual machines on Wednesday. Describe the developer of the project,
“The Axelar Virtual Machine, powered by Cosmwasm, turns interoperability into a programmable layer. It allows developers to extend inter-chain deployments and “program” cross-chain networking layers while building smart applications on Axelar. Now you can create a contract.
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