JTO Coin and O7 Crypto Soar: Unprecedented Price Surge (JTO, O7)

• The cryptocurrency market witnessed a surge in certain tokens on May 2nd, fueled by positive developments.
• The native token of Axelar network, a platform that facilitates interoperability across Web3, experienced a significant price increase.
• Another blockchain project, Altlayer, introduced a new staking mechanism that has caught the market’s attention.

Explore the recent surge in the crypto market, with a focus on the Axelar network’s native token and Altlayer’s innovative staking mechanism, and how these developments are influencing the market.

Axelar Token Eyes Record High

The Axelar token (AXL) saw a noteworthy increase of 14% in the last 24 hours, reaching a price of $1.21 at the time of writing. This surge brings AXL closer to its all-time high of $2.66, achieved in March 2024. A definitive break above the current resistance level of $1.26 could potentially trigger a new rise towards and beyond the all-time high. The Axelar technical chart indicates a potential upward trend in the 12-hour timeframe, confirmed by a breakout from a falling flag formation. This technical indicator strengthens the likelihood of ongoing price increases for AXL. The positive momentum coincides with increased staking activity on the Axelar network. The number of AXL stakers has doubled since January 2024, surpassing 10,000. This implies an impressive average of 56 new stakers joining daily over the last 30 days.

Altlayer Soars with New Announcement

Altlayer’s native token, ALT, made headlines today due to a price increase coinciding with the launch of the ‘reALT’ token. This innovative ERC-20 token simplifies the staking process for ALT holders by automatically consolidat... Read the full article for FREE at COINOTAG!