Axelar Crypto (AXL) Surges 70% After Upbit Listing | Price Analysis
2025-06-11 08:22:51Axelar (AXL) Surges 70% in 24 Hours: Upbit Listing and DeFi Optimism Fuel Rally
The cryptocurrency market witnessed a dramatic surge in Axelar (AXL) as the token skyrocketed by over 70% in just 24 hours, adding more than $200 million to its market capitalization. The rally follows its listing on South Korea’s largest exchange, Upbit, alongside growing institutional interest in cross-chain interoperability solutions.
Why Is Axelar (AXL) Exploding?
Axelar, a decentralized cross-chain communication protocol, has been gaining traction as a critical infrastructure player in Web3. The token’s price surged from $0.50 to a peak of $0.87 before stabilizing around $0.75, marking one of the most significant altcoin breakouts this week.
Key Drivers Behind the Rally:
Upbit Listing: The addition of AXL/KRW trading pairs on Upbit, South Korea’s leading exchange, triggered a massive influx of liquidity, with trading volume surging from $18.65M to over $366M in 24 hours .
DeFi and Institutional Adoption: Axelar’s role in facilitating seamless asset transfers across Ethereum, Polygon, and Cosmos has positioned it as a preferred solution for institutional DeFi applications.
Market Sentiment Shift: The broader altcoin market is rebounding, with Aave (AAVE) and Uniswap (UNI) also posting double-digit gains amid SEC discussions on potential "innovation exemptions" for DeFi platforms .
Market Impact and Expert Analysis
Analysts suggest that Axelar’s breakout from a long-term downtrend signals a potential bullish reversal.
Technical Perspective:
The breakout above the $0.60 resistance level confirms a bullish wedge pattern, with next targets at $0.90 and potentially $1.20 if momentum holds .
The Relative Strength Index (RSI) briefly hit 77, indicating overbought conditions, but strong buy pressure suggests sustained interest .
Institutional Interest:
Upbit’s listing has opened doors for Korean retail and institutional traders, historically known for driving high volatility in listed assets.
Axelar’s integration with major blockchains like Ethereum and Cosmos makes it a strategic bet for cross-chain interoperability—a sector projected to grow exponentially as multi-chain DeFi expands .
What’s Next for Axelar?
While short-term profit-taking could lead to a pullback, the long-term outlook remains bullish.
Price Predictions:
2025 Forecast: Some analysts project AXL could reach $0.94 by year-end if adoption continues .
Long-Term Potential: Axelar’s utility in cross-chain messaging and asset transfers could see it mirror the growth of earlier interoperability leaders like Polkadot and Cosmos.
Key Risks:
Regulatory Uncertainty: While the SEC’s potential DeFi exemptions are positive, any adverse regulatory moves could impact sentiment.
Market Volatility: A broader crypto downturn could dampen AXL’s momentum, especially if Bitcoin fails to hold key support levels.
Final Thoughts: Is Axelar a Sustainable Rally?
Axelar’s surge highlights the growing importance of cross-chain solutions in a fragmented blockchain ecosystem. With strong fundamentals and increasing exchange support, AXL could cement itself as a top-tier interoperability player.
What do you think? Will Axelar sustain its rally, or is this a short-term pump? Share your thoughts on our X.
Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.
Sources:
99Bitcoins: "Axelar Crypto 70% Pump: Adding More Than $200 Million in Market Cap – Here’s Why"
BusinessWire: "Upbit Lists Axelar’s AXL Token in AXL/KRW Trading Pair"
CryptoTimes: "Axelar (AXL) Price Surges Over 60% – What’s Behind the Rally?"
Crypto.News: "Why Are Altcoins Like Axelar, Aave, Uniswap, Pepe Going Up Today?"
Invezz: "Crypto Price Predictions: Pi Network, Axelar, Maple Finance"
CCN: "Axelar (AXL) Price Breaks Downtrend After Upbit Listing"