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Associated Press
4 days ago
- Business
- Associated Press
Upbit Lists Axelar's AXL Token in AXL/KRW Trading Pair
SEOUL, South Korea--(BUSINESS WIRE)--Jun 10, 2025-- Upbit, a South Korean cryptocurrency exchange, announced the listing of AXL, the native token of Axelar Network, in an AXL/KRW trading pair, effective June 10, 2025. The listing is detailed in Upbit's official notice. In its opening hours, the AXL-KRW pair recorded trading volume of over $220 million, ranking as the third largest trading pair on Upbit by 24-hour volume, surpassing BTC/KRW and XRP/KRW pairs, per CoinGecko data. The AXL token supports Axelar's blockchain interoperability network, facilitating cross-chain communication and asset transfers. AXL is used for transaction fees and governance within the network, enabling developers to build applications that connect multiple blockchain ecosystems. About Axelar Axelar is a decentralized network and development platform securely connecting the world's blockchains and financial infrastructure. Its secure, programmable multichain product stack enables seamless interoperability across Web3—critical for the next wave of institutional-grade use cases. With backing from top-tier investors including Dragonfly, Polychain, Binance Labs and Coinbase Ventures, Axelar is enabling the next generation of financial infrastructure: from multichain stablecoins to tokenized real-world assets (RWAs), built with security, compliance and enterprise scale in mind. Learn more at About Axelar Foundation Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized interoperability platform securely connecting the world's blockchains and financial infrastructure.. Learn more at View source version on CONTACT: Media Karla Vilhelem PR Director, MarketWaves [email protected] (754) 215-4315 KEYWORD: ASIA PACIFIC SOUTH KOREA INDUSTRY KEYWORD: SOFTWARE NETWORKS PROFESSIONAL SERVICES PHILANTHROPY BLOCKCHAIN TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SECURITY CRYPTOCURRENCY WEB3 FINANCE OTHER PHILANTHROPY SOURCE: Axelar Foundation Copyright Business Wire 2025. PUB: 06/10/2025 05:12 PM/DISC: 06/10/2025 05:10 PM
Yahoo
13-05-2025
- Business
- Yahoo
Where Will Sui Be in 1 Year?
Sui has been one of the fastest-growing cryptocurrencies in the past year. Sui's exceptional network speed, low cost, and programming flexibility have fueled a thriving blockchain ecosystem. Several platform developments may serve as a catalyst, pushing up Sui's price during the next year. 10 stocks we like better than Sui › Sui (CRYPTO: SUI) has emerged as a breakout star in the rapidly evolving cryptocurrency market, climbing about 290% during the past year. Its unique blockchain platform, designed to address scalability and user experience bottlenecks that have long plagued crypto, has proven transformative in building a growing ecosystem. Indeed, Sui is already the 11th largest cryptocurrency with a $13 billion market capitalization, just two years since its May 2023 launch. Let's discuss the factors driving this remarkable ascent and where Sui might be headed during the year. With more than 20,000 different cryptocurrencies available to investors, Sui distinguishes itself through its elite development team and robust financial backing. The project was started by former Meta Platforms engineers after the company abandoned its blockchain-based digital currency, Libra (later renamed Diem), in 2022. Securing $336 million from high-profile investors, including Andreessen Horowitz, Binance Labs, and Coinbase Ventures, the Sui project gained immediate credibility with several breakthrough technological advancements. Sui operates as an independent Layer-1 blockchain, meaning it runs on its own decentralized network rather than being tied to any other cryptocurrency. Its fixed supply of 10 billion Sui tokens enhances its appeal by promoting long-term value retention. A key innovation lies in its object-centric model, which assigns all types of on-chain assets unique identifiers with defined ownership. This approach eliminates the need for complex smart contract interactions to manage ownership, a departure from the traditional account-based model used by prominent cryptocurrencies such as Ethereum and Solana. As a result, Sui can handle parallel transaction processing, theoretically achieving up to 297,000 transactions per second (TPS) with 400 milliseconds of finality, referring to the time required for a transaction to be confirmed on the network and irreversible. These performance metrics surpass Ethereum's 15 to 30 TPS and confirmation times ranging from seconds to minutes, relying on Layer-2 solutions for improved efficiency. Solana performs better than Ethereum with 65,000 theoretical TPS and 900ms finality, but has experienced episodes of network congestion and instability. Furthermore, Sui's architecture employs the Move programming language, recognized for its flexible and efficient framework designed to prevent security vulnerabilities and deliver more predictable performance. Sui's exceptional speed, scalability, and low fees make it ideal for real-time applications, including decentralized finance (DeFi) and next-generation gaming, driving platform development and ecosystem growth. Robust metrics underscore Sui's growing utility and ability to attract users and capital from competing Layer-1 and Layer-2 blockchains. The latest data shows Sui's total value locked (TVL), representing the value of all blockchain assets, including tokens and decentralized applications (dApps), at $2 billion, surging nearly 10-fold in just over a year from $212 million in January 2024. Though overshadowed by Ethereum, which leverages its decade-long trading history and platform maturity for a $60 billion TVL, Sui outpaces many alternatives in engagement share. Rising daily decentralized exchange (DEX) volume and daily active addresses (DAAs) reflect robust activity on dApps like Cetus, a concentrated liquidity DEX enabling efficient token swaps, and MemeFi, a gaming dApp capturing viral popularity. Strategic advancements strengthening Sui's outlook include a partnership with Mastercard to facilitate virtual credit card spending via a Sui wallet at more than 20,000 European merchants. Additionally, multiple U.S. regulatory filings for Sui exchange-traded funds (ETFs) by firms like 21Shares and Canary Capital underscore Sui's expanding influence and broad-based appeal. Despite the wild swings in financial markets this year amid a delicate economic environment, recent headlines suggest easing trade tensions have helped boost investor confidence and stabilize some asset classes. This backdrop of resiliency could be key for the Sui blockchain to continue growing, providing a tailwind for its price this year. I'm bullish and predict that Sui can surpass its all-time high of $5.35 during the next year. Although the cryptocurrency remains speculative and faces the challenge of staying at the cutting edge of innovation in the highly competitive crypto industry, I believe the project is still in the early stages of its success. Ultimately, Sui has proven itself to be one of the most important cryptocurrencies in the market and deserves to be on your investing radar. Before you buy stock in Sui, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Sui wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $714,958!* Now, it's worth noting Stock Advisor's total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Dan Victor has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ethereum, Mastercard, Meta Platforms, Solana, and Sui. The Motley Fool has a disclosure policy. Where Will Sui Be in 1 Year? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
