Axelar (AXL) Price Prediction: Can Binance Listing Fuel the Rise to $4?

• Minutes after information got out that Binance would list the token, AXL’s price jumped.
• A trader made a quick $56,000 due to the price swings from the announcement.
• Open Interest reached a yearly high, as did AXL’s trading volume.

The price of the utility token of the Axelar (AXL) Web3 soared by more than 30% after news emerged that Binance would list the token. According to Binance’s statement, it planned to introduce the AXL pairs against numerous stablecoins and Bitcoin (BTC), inclusive, on March 1

However, the exchange noted that AXL withdrawals would only start on March 2. Interestingly, Spot On Chain revealed that some traders have capitalized on the development to make profits. According to the on-chain information portal, a trader exchanged 500,000 USDT to buy 317,322 AXL.

This happened around 11:30 am UTC. Minutes later, the trader sold the tokens for $556,000, making a profit of $56,000 within the said period.

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