The Daily Breakdown takes a closer look at Axelar and Alchemy Pay, before diving into the charts of Stellar (XLM).
Before we dive in, let’s make sure you’re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro account.
Crypto Corner
We’re continuing our talk about the ins and outs of the crypto market, helping investors become more familiar with the 110+ cryptoassets offered by eToro. Today we’ll discuss Axelar and Alchemy Pay.
Axelar (AXL): Trading near $0.04 with a market cap of ~$55 million
Axelar is a Cosmos-based cross-chain communication network that lets dApps move assets, data, and contract calls across 60+ connected chains. AXL powers staking, fees, and governance, while validators secure message routing through proof-of-stake. Axelar’s developer tools help apps operate across multiple blockchains without being tied to one network. This makes Axelar a middleware layer for multichain development, while AXL’s role remains utility-based rather than a claim on ownership, dividends, or protocol profits.
Alchemy Pay (ACH): Trading near $0.005 with a market cap of ~$54 million
Alchemy Pay is a crypto-fiat payments network linking digital assets with traditional rails for merchant checkout, on/off-ramps, and wallet/dApp integrations. Operating across 70+ countries with 300+ payment channels, it connects partners such as Binance, Shopify, NIUM, and QFPay. ACH is an Ethereum-based utility token used for fees, discounts, staking, and incentives — not equity, dividends, or profit-sharing.
Check out these crypto offerings — and many more — on eToro’s Discover page and consider adding them to your watchlist. AXL and ACH are not currently available for NY users. Learn more.
Want to receive these insights straight to your inbox?
The Setup — XLM
There’s no shortage of volatility when it comes to Stellar, but technical analysts may point out its recent structure. After soaring toward the 30-cent mark in late May — approximately doubling in just a few sessions — XLM pulled back, finding support near the 18-cent mark. Not only was the 200-day moving average nearby, but this level had been resistance for months.
This “role reversal” — where old resistance turns into new support — is something we discussed in this year’s Technical Analysis Boot Camp. With the 18-cent level now acting as support, XLM jumped ~12% yesterday and is higher again this morning. Will it continue to hold in the future?
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.