Axelar (AXL) is currently experiencing a mix of bullish and cautious sentiment. Its price has seen significant growth over the past month, increasing by over 50%, indicating strong momentum in the short term. However, AXL is still trading well below its all-time high of $2.67, showing a current price of about $0.78, which is 70% lower than its peak from earlier in 2024. Despite this, its interoperability solutions and secure cross-chain communication make it a key player in the Web3 space, drawing interest from developers and investors alike.
With strong backers like Binance and Coinbase Ventures, and its growing ecosystem, Axelar's long-term prospects are promising, but in the short term, the market remains somewhat volatile. Therefore, AXL has bullish potential but carries the usual risks associated with the fluctuating crypto market.
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