BlocksInform
Top US crypto exchange COINBASE has added sudden support for proof-of-stake blockchain Axelar, sparking a rally for its native token,
Axelar is a project built using the Cosmos SDK (software development kit), and aims to deliver cross-chain communication between numerous other blockchains.
Its functions include the execution of cross-channel token transfers, the calling of smart contracts or the sending of arbitrary messages from one channel to another.
Developers can use axelar to construct decentralized applications (dapps) that allow users to interact with assets or applications across multiple channels within a platform.
Says Axelar’s whitepaper
“Axelar enables dApp builders to add cross-chain functionality to their applications, through a suite of APIs. These apis allow a dapp user to send a message with arbitrary string data from the source string to the destination string. These APIs allow a dApp user to send a message that contains arbitrary cross-data from source to destination.
Axelar currently connects to Ethereum (), Cosmos (), Avalanche (), Polygon () BNB Chain (), Osmosis (), Fantom (), Moonbeam (), Juno (), Injective (), Secret Network (and Kujira (
Coinbase announced it would be adding support for Axelar early on Monday, and went ahead with listing Tuesday morning.
After the initial coinbase announcement, Axl bounced back from $0.59 to $0.80, a 35% win in a few hours.
After the initial announcement from Coinbase, AXL abruptly bounced back from $0.59 to $0.80, a 35% gain in a few hours.
