Axelar Q2 2024 Brief

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  • Post category:Ethereum News

Key Insights

Financial Analysis

Revenue generated by the Axelar network increased by 10% QoQ to 709,200 AXL; however, when denominated in USD, it decreased by 19.9% to $737,800 for the quarter. The USD decrease was driven by AXL’s price depreciation and flat transaction activity

Up-to-date views of network metrics are available at Messari.io

Active addresses increased by 2.7% QoQ to 3,200. GMP also dominated total active addresses by making up 96% in Q2 2024. In Q2, active addresses were up 124% over the same period in 2023.

The average daily cross-chain volume decreased by 8.8% QoQ to $9.6 million. Compared to last year’s period, Q2 average daily cross-chain volume was up 233%. GMP accounted for 84% of the volume, totaling $732.7 million for the quarter. Twenty percent of this came on June 12, when Aethir

The network saw total staked AXL fall by 7.1% QoQ to 691.9 million, while active validators remained constant at 75.

Notable ecosystem developments and integrations from Q2 include:

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