This Web3 token will grow by 30% among the Binance list

AXL, the native token of the Acceler Network, recently took center stage. This Web3 interoperability platform's token has increased in value by more than 30%, after leading international crypto exchange Binance announced that it will list AXL.

This event has created a lot of interest among traders and investors worldwide.

Trader made more than $56,000 after AXL listing on Binance

The decision to list Binance's AXL is an important moment for the platform, introducing trading pairs such as AXL/BTC, AXL/USDT, AXL/FDUSD and AXL/TRY. Trading started on March 1 at 11:00 UTC and withdrawals opened the following day. Additionally, Binance has designated AXL as a “seed” token, acknowledging its inherent volatility.

The implications of the Binance listing are profound for the broader cryptocurrency market. Historically, tokens listed on Binance have shown high price volatility, and the case of AXL is no different. The token's price track has moved higher, with the initial data suggesting a bullish outlook among traders.

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This enthusiasm was further fueled when one trader made an instant profit of $56,000 from XL trading after an announcement, demonstrating the lucrative opportunities that such market movements offer. The trader's ability to capitalize on the token's price rally highlights the highly volatile nature of crypto trading, where timing and market sentiment play crucial roles.

1 minute after Binance announced the AXL listing, this trader quickly withdrew 500,000 USDT to buy AXL. AXL then immediately sold and got 556,000 USDT. He made 56,000 USDT in just 8 minutes.” Lookonchain explained.

The AXL listing comes as Binance is actively expanding its trading options, recently adding other tokens such as Dymension (DYM), Pyth Network (PYTH) and the USDC-margined ORDI Perpetual Contract. These developments reflect the exchange's strategy to take advantage of the ongoing bull market to boost trading revenue.

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Interestingly, this list follows Binance's recent removal of several tokens, including Monero (XMR), due to changing standards and compliance requirements. Along with Monero, Binance canceled Aragon (ANT), Multichain (MULTI), and Vai (VAI).