Altcoin News

Axelar (AXL) Price Soars 30% Amid Binance Listing Announcement

Binance, a prominent cryptocurrency exchange, revealed plans to list the native token of the Axelar network, AXL, amid price rally.
Published by
Axelar (AXL) Price Soars 30% Amid Binance Listing Announcement

Highlights

  • Binance reveals plans to list the AXL token.
  • The announcement gained significant traction is Binance's listings have previously impacted tokens' prices.
  • AXL price rallies.

AXL, the native token of the Axelar Network, a Web3 interoperability platform, recently sparked immense curiosity among crypto market traders and investors globally as its price rallied nearly 30% as of press time. This phenomenal surge promptly nabbed substantial attention among crypto market enthusiasts across the market as it emerged amid Binance’s, one of the world’s leading cryptocurrency exchanges, plans to commence trading specific pairs for the AXL token.

The derivatives data further garnered bullish thoughts for AXL, aligning with the recent phenomenal rally. Meanwhile, with Binance’s previous listings resulting in noteworthy price action shifts for numerous tokens, crypto market enthusiasts extensively eye AXL as its listing comes.

Advertisement

A Closer Look Into Binance’s Listing Announcement

According to the statement released by Binance today, March 1, the CEX plans to open specific spot trading pairs starting today at 11:00 UTC. The new spot trading pairs, per Binance’s statement, AXL/BTC, AXL/USDT, AXL/FDUSD, and AXL/TRY, will be available for trading starting the abovementioned date.

Meanwhile, withdrawals for the same start tomorrow, March 2, at 11:30 UTC. The listing fee set by Binance is 0 BNB, showcasing the CEX’s support for the listing. Whereas Binance also applied the seed tag next to AXL, showcasing the token’s recent listing along with its highly volatile and risky nature.

Intriguingly, with previous tokens’ listings, such as Ronin and BLUR, speculations of a pump or slump persist. Ronin dropped nearly 30% following Binance’s listing, whereas the Blur token rallied remarkably.

In the interim, a trader appears to have garnered a notable profit worth $56,028 in just 8 minutes with the help of AXL. Insights by Spotonchain revealed that this trader accumulated 317,322 AXL with 500K USDT right after Binance’s listing announcement surfaced and sold it for 556K USDT following a nearly 20% rally. This fueled market optimism orbiting AXL as the token’s price continued its upward momentum, nearing a 50% rally as of writing.

Also Read: Whale Dumps 2T Pepe Coin Amid Shiba Inu Hype, PEPE Price Dip Ahead?

Advertisement

AXL Price Rockets

As of writing, AXL’s price jotted a staggering 46.50% surge over the past 24 hours and is currently trading at $2.28. With Binance’s listing announcement recently surfacing over the crypto horizon, the token’s 24-hour trading volume rocketed 284.94%, reaching $79.18 million. This fueled immense optimism for the upcoming listing.

While Coinglass‘ data further propelled optimism for AXL, with an open interest increase of 52.99% and a volume upswing of 146.49%. This hinted at substantial new money entering the market with burgeoning market activity. The OI-weighted funding rate for the token also showcased a remarkable surge, reaching 0.1859%, adding to the bullish climate painted by AXL.

Also Read: LUNA Classic Price : Why Terra LUNA Classic (LUNC) Is Trending?

Advertisement

Share
Coingapestaff

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.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Crypto Crime Hits $2.47 Billion in H1 2025, With Wallet Hacks on the Rise

The crypto industry has already lost more money in the first half of 2025 than…

October 6, 2025
  • Altcoin News

ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing

Crypto exchange Binance on Monday said it will list next-generation decentralized perpetual exchange Aster's crypto…

October 6, 2025
  • Altcoin News

Whale Dumps Massive $55 Million in XRP to Ripple as Coin Falls Below $3?

A whale alert regarding a massive $55 million XRP transfer to a Ripple wallet sparked…

October 6, 2025
  • 24/7 Cryptocurrency News

Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?

BNB-based decentralized exchange (DEX) Aster has come into the limelight recently, this time facing integrity…

October 6, 2025
  • Bitcoin News

Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish

Spot Bitcoin ETFs saw nearly $3.3 billion in net inflows last week, the 2nd largest…

October 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025