PNG soars on Axelar integration: What is Pangolin's price prediction?

Highlights

  • A decentralized cryptocurrency exchange, Pangolin is community-driven and runs on Avalanche.

  • Axelar integration will enable Pangolin crypto users to no longer depend on external bridges.

  • The Pangolin crypto has a total supply of 538 million tokens, and its circulating supply is 50.1 million.

The Pangolin (PNG) crypto is gaining momentum as its one-day volume surged by 83 per cent to $8,196,025 in the last 24 hours. At the time of writing, the virtual currency's price had jumped 17 per cent and it was trading at US$ 2.33 per token.

In the last seven days, the PNG token has attracted investors and it has expanded by 43.6 per cent. Crypto enthusiasts are focusing on this cryptocurrency as Axelar announced integration with Pangolin last week.

On September 8, Axelar, the decentralized interoperability software to connect blockchains announced that it will be integrating with the Pangolin Exchange, which serves as a decentralized exchange (DEX) for Ethereum and Avalanche assets.

What is the Pangolin crypto?

A decentralized cryptocurrency exchange, Pangolin is community-driven and runs on Avalanche. This exchange is for Ethereum and Avalanche assets with low transaction fees, democratic distribution, and fast settlement.

PNG is the native utility token of this decentralized exchange, and it is fully community distributed. This token can also be used to trade all tokens issued on the blockchains -- Ethereum and Avalanche.

The major uses of Pangolin are a fair system for token distribution and faster and cheaper transactions. As it is built on Avalanche, the DEX allows its users to swap assets and pay a small transaction fee due to the sub-second transaction finality.

The PNG token has a total supply of 538 million tokens, and its circulating supply is 50.1 million. Further, 95 per cent of the total tokens are for the community treasury and they can be used initially to fund liquidity mining. Meanwhile, the remaining tokens are reserved for community airdrop.

According to the project’s website, users can easily scale their decentralized finance (DeFi) trading with Pangolin and the total volume of crypto trading is US$ 6.09 billion on the platform.

The Axelar integration will enable Pangolin users to no longer depend on external bridges and this move is expected to bolster the platform's security and efficiency.

Also Read: LOOT crypto: What is the NFT farming platform’s price prediction?

Pangolin crypto is trending in Canada after Axelar’s integration.

 © 2021 Kalkine Media Inc.

Pangolin price movement and prediction


According to CoinGecko, the PNG token has surged by 30.5 per cent in the last 14 days and 96.2 per cent since the past month.

Pangolin may see a resistance zone at US$ 2.4 per token and if it breaks the resistance level with an increased trading volume, the cryptocurrency could cross the US$ 4 mark by the end of this year.

Also Read: Dromos crypto: Price prediction and everything to know about DRM token

Bottom line

Apart from mainstream cryptocurrencies like Bitcoin and Ether, altcoins have been rising this year and there are plenty of options to consider in the cryptocurrency market. If you are a crypto enthusiast, you could do your research and then identify altcoins for your portfolio.

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK