Every day 1 SPOT #8: $AXL (Axelar)
Axelar (AXL) is a blockchain project focused on cross-chain connectivity, providing infrastructure for different blockchains to interact seamlessly with each other.
Growth potential of AXL:
- Axelar addresses one of the biggest issues in blockchain: interoperability between networks such as Ethereum, Binance Smart Chain, Solana, and other ecosystems. In the context of an increasing number of DeFi and dApp projects requiring this feature, Axelar has a significant advantage.
- With the development of Layer 2 (Arbitrum, Optimism), Axelar can serve as an optimal bridging solution.
- This enhances Axelar's appeal to projects looking to expand cross-chain potential, while also strengthening Axelar's position in the blockchain ecosystem.
Accompanying risks:
- Competition: Many strong competitors like Polkadot (with parachains) or Cosmos (with IBC) also provide interoperability. Axelar needs to continue innovating to maintain its advantage.
- Market volatility: Like any other token, AXL is affected by the overall volatility of the cryptocurrency market.
- Cross-chain security: A security vulnerability, even a minor one, could harm Axelar's reputation and value.
Growth expectations:
- The current price is around ~0.89, expecting that in a favorable market it will triple in the next year when what people call Alt SS occurs. Doubling could also be considered for profit-taking. Of course, it depends on the greed of the investors.
Slots Spot: 0-9-8-7-5-6-0-6-2-4
