$AXL Token Insights from June 2024 News:1.Interoperability Insights Paper: In June 2024, top institutions pointed to blockchain interoperability as critical to asset tokenization in a new "Interoperability Insights" paper. The AXL token, being the native token of Axelar, plays a significant role in supporting a full-stack interoperability platform that scales. Tokenholders stake the AXL token by delegating tokens to a validator's staking pool and receive rewards in return, minus the validator's commission (source) .2.Tokenomic Overhaul: Axelar is preparing for a tokenomic overhaul for the AXL token to make it deflationary and introduce necessary infrastructure to simplify the blockchain integration process. This move aims to revamp the tokenomics of AXL and enhance the cross-chain communication platform (source) .3.Price Surge: In an under-the-radar event, the AXL token surged after a surprise listing on a top crypto exchange, Binance. The token experienced a significant increase in price, reaching a new all-time high within 24 hours of the listing (source) .Overview of $AXL Token:•The AXL token is the native token of Axelar, a cross-chain communication platform. It plays a crucial role in the Axelar network ecosystem and is essential for achieving decentralization and security within the network.•Tokenholders can stake the AXL token by delegating tokens to a validator's staking pool, earning rewards in the process.•AXL is designed to facilitate secure and universal connectivity between different blockchain ecosystems, enhancing interoperability and scalability in the blockchain industry.Analysis of Price Change:The price change of the AXL token could be attributed to various factors such as the positive news of top institutions emphasizing the importance of blockchain interoperability, the tokenomic overhaul to make AXL deflationary, and the increased visibility following the listing on a major exchange like Binance. These developments may have instilled confidence in investors, leading to a surge in demand and consequently driving up the token's price. Additionally, the significant role of the AXL token in supporting a full-stack interoperability platform may have contributed to its increased value as more institutions recognize its critical role in the industry.