WAXL (also written as wAXL) is an ERC-20 wrapped representation of Axelar's native token, AXL, for use in ERC-20 format on EVM-compatible chains. It is not another independent economic asset unrelated to AXL; it is designed to allow native AXL to be recognized and used in the token and application environments of those networks. When understanding WAXL, it is essential to confirm both the token form and the network: although both are AXL-related assets, native AXL and WAXL on a particular EVM chain differ in technical form and in the operations that can be performed.

Axelar Price Today, Live Market & Historical Trend Chart

Q: What is the relationship between WAXL and native AXL?

WAXL corresponds to native AXL on a 1:1 basis: one WAXL corresponds to one native AXL held in custody by a gateway. This relationship means wrapping changes the asset's technical representation on the destination chain; it does not exchange AXL for another asset at a floating ratio. When native AXL is held in custody to support use on EVM-compatible chains, a corresponding amount of WAXL can be minted on the destination chain; therefore, WAXL's availability depends on this cross-chain custody and representation mechanism rather than on a separate fixed issuance schedule.

Q: How is WAXL created and removed from circulation?

WAXL is created through the cross-chain representation process for native AXL: after native AXL is held in custody by a gateway, an equal amount of WAXL is minted on an EVM-compatible chain. The minted amount is based on the native AXL held in custody, maintaining a 1:1 correspondence between them. Conversely, WAXL should not be understood as an independent token with a pre-fixed supply. Its amount changes as native AXL is converted to and from representations on EVM chains; the specific available paths depend on support for this asset form by the relevant networks and services.

Q: Can WAXL be used directly for AXL staking?

WAXL on an EVM chain cannot be directly regarded as stakeable AXL. Axelar's documentation applies staking to native AXL; therefore, if an operation requires AXL staking, users need to use native AXL rather than merely holding WAXL. The reason is that wrapping addresses token representation and availability on EVM chains, whereas staking requires the native token form. A 1:1 correspondence does not mean the two forms can be used interchangeably in every protocol function.

Q: What should be verified when transferring or using WAXL?

Before transferring or using WAXL, first confirm that the recipient's network supports WAXL in this ERC-20 representation, and confirm that the receiving address belongs to that network. Similar-looking address strings do not prove that an asset will be usable on the wrong network. This is important because WAXL's definition itself includes being a representation on EVM-compatible chains: the asset form, network, and receiving address must match. Even though native AXL and WAXL correspond 1:1, this does not mean that any network or any AXL-related address can receive and use WAXL normally.

Rank 383

$0.04805

-$0.00073(-1.51%)

Market Cap

$61.55M

24h High

$0.05204

24h Low

$0.04790

24h Turnover

$30.36K

Total Supply

1.23B

Market Sentiment

Neutral

Axelar (WAXL) Price Performance

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Axelar (WAXL) has a Last Price of $0.04805, with a 24h change of -1.51%. The 24h low is $0.04790, the 24h high is $0.05204, and the 24h turnover is $30.36K. The current market cap is approximately $61.55M, ranking 383 by market cap and accounting for 0.0011% of the total crypto market cap. The All-Time High is $2.63000 (⁦2024-03-03⁩), with a change from the All-Time High of -98.17%.

7 Days
-17.12%
Low
$0.04574
High
$0.05937
30 Days
-9.32%
Low
$0.04574
High
$0.06443
90 Days
+25.06%
Low
$0.03443
High
$0.06443
1 Year
-74.32%
Low
$0.03443
High
$0.20710

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 51; Normal
Last Week: 53; Normal
Last Month: 71; Greed

The Fear & Greed Index is currently 54/100, in the Normal zone; change from yesterday: +3, from last week: +1, and from last month: -17. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

Why Did Axelar (WAXL) Fall in the Last 24 Hours?

The 15-minute and 4-hour moving averages were bearish, supporting a technical explanation of a short-term pullback; the 1-hour trend was bullish and the daily direction neutral, while RSI and MACD showed no clear crossover, leaving mixed signals. ADX measures trend strength, not direction. In the order-book snapshot, buy volume across the top five levels was 17,608 versus 9,893 on the sell side. However, buy volume was concentrated in an order of about 15,357 units, so a single snapshot cannot establish persistently low liquidity or reveal the order placer’s intent. The candlestick closing at 13:00 UTC on 2026-10-24 was up 1.28% from its open, and the subsequent price was below that close, indicating a retreat after a rise; the volume unit and basis are unspecified, so selling pressure cannot be assessed. No confirmed event directly related to WAXL is identified; the impact of limited funds in a shallow order book remains only a possible factor and does not establish a single cause for the movement.

About Axelar (WAXL)

Axlar provides secure cross chain communication for Web3. Security means that Axlar is based on proof of equity, which is a proven method used by Avalanche, Cosmos, Eth2, etc. Cross chain communication means that a complete experience can be built for users, allowing them to interact with any asset, any asset, and any application on any chain.

Use Cases and Features

WAXL is the ERC-20 wrapped form of Axelar's native token, AXL, allowing AXL to be transferred, traded, or used in on-chain applications in a token format common on EVM chains. WAXL corresponds to native AXL at 1:1. Staking applies to native AXL; when using WAXL, confirm the target network and supported token form.

Supply and Issuance Mechanism

WAXL has no issuance system independent of AXL. After native AXL is deposited into an Axelar gateway, an equal amount of WAXL can be minted on EVM-compatible chains; in the reverse conversion, the corresponding WAXL leaves circulation. Therefore, the amount of WAXL changes with conversions between the two forms and does not represent additional issuance of native AXL.

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238%

Axelar (WAXL) Basics & Market Insights

Fundamentals

Axelar ($AXL) In-Depth Analysis: Ecosystem Value of Cross-Chain Interoperability and Current Price MovementsBeginner

AXELAR: The Future of Cross-Chain Interoperability in Web3Beginner

What is Axelar and How Does it Work?Beginner

Frequently Asked Questions About Axelar (WAXL)

What is WAXL?

What is the relationship between WAXL and native AXL?

How is WAXL created and removed from circulation?

Can WAXL be used directly for AXL staking?

What should be verified when transferring or using WAXL?

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