Axelar Network, a web3 interoperability entity, has reported significant growth and achievements in 2024. The platform saw a 71% increase in active users, reaching nearly 60,093, and a 50% growth in transaction volume, totaling $3.1 billion. The Interchain Token Service of Axelar played a large role in driving this activity. The platform also attracted institutional players, with Deutsche Bank launching a pilot Ethereum L2 project in partnership with Axelar, and Mastercard and Citi collaborating to boost real-world asset interoperability. Axelar plans to continue its growth in 2025 with initiatives such as new-chain integrations, enhanced security, improved protocols, and tokenomics upgrades. The platform is introducing the Interchain Amplifier to facilitate interoperability between blockchains such as XRP Ledger, TON, Sui, Solana, and Bitcoin. It also offers improved application-layer protocols and strengthened security measures. Furthermore, Axelar's approach to chain integrations aims to increase the utility of its native token, AXL, by burning transfer fees instead of distributing them among token holders.



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