02/16/2025
BTC97,540.0
ETH2,699.39
XRP2.78
USDT1.0
BNB659.69
SOL194.54
USDC0.999962
DOGE0.271359
BUSD0.996645

Axelar (AXL) Price

AXL
4,7
$0.470738
Market cap
431,377,194.0
Total volume
9,535,588
Circulating supply
916,384,246
Total supply
1,190,583,436
Axelar enables seamless communication across different blockchains. It allows users of decentralized applications (dApps) to effortlessly engage with any asset or application across various blockchains in a single click. Imagine it as the Web3 equivalent of Stripe. Developers access a straightforward API that sits on top of a decentralized network, which smartly routes messages and secures the network through a proof-of-stake consensus mechanism.

Functioning as a bridge between diverse blockchains, Axelar ensures secure interconnectivity through its proof-of-stake consensus framework. Network validators are responsible for generating new blocks, partaking in multiparty signings, and validating the states of external chains. By staking AXL tokens, token holders can assign their tokens to a validator’s staking pool, earning rewards, after the deduction of the validator’s fees.

The utility of the AXL token spans governance roles and covering network transaction fees, payable to both validators and token owners. Importantly, it's not mandatory for Axelar network users to possess the token directly. The network facilitates conversions between AXL tokens and those of destination chains behind the scenes, allowing users to incur only a single gas fee, paid in the token of the originating chain.

While the reward structure of the Axelar network is inherently inflationary — leading to an increase in the total supply of AXL tokens — the designed transaction fee mechanism holds the promise of transitioning the supply towards a deflationary model.
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Converters AXL