Analysis

The Axlar network has recorded a total of 264k IBC transactions, with 63% being attributed to the transfer of assets, while 37% represents withdrawals. The transaction graph depicts a significant surge in asset transfers to the Axlar network from December to April 2022. Subsequently, between November 2022 and today, there has been a relatively high preference for transferring assets to the Axlar network. Therefore, it is evident that asset transfer to the Axlar network is highly sought after. As per the IBC volume entering and leaving the Axlar network, 89k and 6k transactions respectively, it amounts to 93% and 7% of the total volume. Additionally, the daily chart further highlights that the volume of imported transactions outweighs that of exported transactions on most days.

AXELAR: Growth and Adoption