South Korean exchange UPbit announces listing of Axelar AXL, surges nearly 80% in two hours

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UPbit Announces Listing of Axelar AXL

According to the announcement, UPbit has announced the listing of AXL on the Bitcoin market. Ethereum deposits will open at 4:00 PM Taiwan time on December 7th, with trading starting at 5:00 PM.

Axelar, a cross-chain interoperability network, is based on the Cosmos SDK cross-chain bridge protocol. It aims to provide developers, enterprises, and users with a simple and reliable way to efficiently access assets and data on different chains. Axelar has received investments from a16z, Coinbase, and Binance.

Axelar AXL Skyrockets Nearly 80%

After UPbit's announcement on December 7th at 1:00 PM, the price of AXL started from $0.62 and rose to a high of $1.1 by 2:30 PM, with an increase of nearly 80% at one point.

At the time of writing, AXL has retraced to $0.99, still showing a 60% increase.

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