Sui Blockchain Eliminates Gas Fees for Stablecoin Transfers

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

AXL+0.513%

SUI-2.34%

MOVE-0.61%

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Fee Elimination: The Sui blockchain has announced the complete removal of gas fees for stablecoin transfers, allowing users to send stablecoins without holding SUI tokens, which eliminates a major barrier for newcomers to the crypto space and is expected to attract more users for everyday payments and transfers.
Enhanced User Experience: The new policy enables users to send stablecoins directly from their wallets without extra steps or costs, significantly improving user experience, especially for casual users unfamiliar with blockchain, thereby promoting greater adoption of the Sui network.
Ecosystem Expansion: Projects like USDC, Agora AUSD, and BUCK are already benefiting from the zero-fee transfer feature, with the native integration of USDC expected to boost network activity and liquidity, enhancing Sui's competitiveness in decentralized finance and everyday transactions.
Diversified Development: Sui continues to expand in decentralized finance and gaming, with Cetus as the leading decentralized exchange, while NAVI and Scallop Lend offer lending services; additionally, the launch of the SuiPlay0X1 gaming console signifies further diversification in Sui's investment in Web3 gaming.

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Technical Analysis for AXL

Technical Sentiment Analysis for Axelar (AXL). As of , Axelar (AXL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AXL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, AXL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Axelar (AXL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0462	0.0511	0.055	0.0599	0.0638	0.0687	0.0726
Fibonacci	0.0511	0.0544	0.0565	0.0599	0.0632	0.0653	0.0687

About AXL

Axelar claims to deliver “secure cross-chain communication for Web3.” The project provides a decentralized network and tools to help builders of decentralized applications (dApps) with seamless cross-chain communication through its protocol suite, tools and APIs.Axelar features three core components – a decentralized network, a software development kit of protocols and APIs, and a set of gateway smart contracts for cross-chain connectivity.Powered by a decentralized network of validators, anyone can join the network, build on it, or use it. Apps builders can interact with a simple API atop a permissionless network that routes messages and ensures network security via proof-of-stake (PoS) consensus mechanism.AXL is the native token of the Axelar network. The protocol also supports the cross-chain transfer of several native tokens via their wrapped ERC-20 versions, including AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC (Polygon).Meanwhile, Axelar has raised capital from top-tier investors, including Binance, Coinbase Ventures, Dragonfly Capital, Polychain Capital and others.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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