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Home web3.0 Axelar (AXL) exploded 60% after listing on South Korea's top crypto exchanges

Axelar (AXL) exploded 60% after listing on South Korea's top crypto exchanges

Jun 12, 2025 am 09:27 AM
cryptocurrency usdt exchange trading platform cryptocurrency trading

Axelar (AXL) rose more than 60% in one day after it went online on UPBIT, a major cryptocurrency exchange in South Korea. The token was officially listed at 07:00 UTC on June 10.

Axelar (AXL) exploded 60% after listing on South Korea's top crypto exchanges

Axelar (AXL) rose sharply this Friday morning, up more than 60% because it successfully landed on Upbit, South Korea's leading crypto trading platform.

The launch occurred on June 9th, UTC time, and opened trading pairs between AXL and South Korean won (KRW) and Tether (USDT).

As a large number of traders poured in to buy, the price quickly climbed to $0.58. Before its listing, AXL was in a downward trend. The token has been fluctuating in the wedge pattern for several months, but this listing helped the price break through this pattern and the trend is now turning to rising.

As of this writing, AXL's 24-hour transaction volume surged from $18.65 million to $366.43 million, achieving a huge growth of 6101%. At the same time, the token's market value has also increased by $500 million, making it the 114th largest cryptocurrency in the world.

Within minutes after the news was announced, the price of AXL rose 65%, reaching $0.55 at one point. According to market data provided by Santiment, Axelar's daily active address (DAA) surged by 924.29%, indicating that more users are interacting with their tokens. In addition, TradingView data shows that technical indicators also send a bullish signal for AXL.

The moving average convergence divergence indicator (MACD) measuring price momentum has risen above zero, meaning that bulls have taken control of the market. Meanwhile, the relative strength index (RSI) on the daily chart is currently 79, indicating that the market may experience a slight correction in the short term to alleviate the bullish imbalance after the surge. If bulls continue to dominate the market, AXL's price may target $0.61 as the next resistance target and is expected to reach $0.82 based on the 0.382 Fibonacci retracement level. However, if the buying momentum weakens, Axelar's price may fall back to $0.46 in a bearish situation, or even further fall to the $0.30 support level.

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