Source: news.google.com
Major US-based crypto exchange Coinbase is adding a little-known altcoin to its listing roadmap in anticipation of a future listing.
coin base Announced via Twitter on Wednesday that Axelar (AXL) is now officially being considered by the trading services exchange.
Axelar aims to offer secure cross-chain communication for Web3 so that DApp users can interact with different assets or applications on any blockchain.
According to Axelar’s website, the project is backed by Coinbase Ventures, Coinbase’s venture capital arm. It is also supported by industry heavyweights like Binance, Galaxy Digital, and Polychain Capital.
In October, Coinbase added support for the wrapped version of AXL (WAXL), which is an ERC-20 token pegged to the AXL price that allows users to use the token on the Ethereum (ETH) network.
AXL is trading at $0.530 at the time of writing. The listing roadmap announcement seemed to affect Axelar’s price: the 380th-ranked crypto asset by market capitalization rose 12.68% in the past 24 hours, while most of the crypto market went into the red. during that same period of time.
Despite the price gains, AXL is still nearly 54% below its all-time high of $1.15, which it hit in September.
Coinbase created the listing roadmap earlier this year to increase transparency and reduce the possibility of early listing announcements.
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