Navigating the world of cryptocurrency conversions can be complex, especially when dealing with specific token pairs and their historical exchange rates. This guide provides a detailed look at the conversion between AXL (Axelar) and USDC.E (Arbitrum Bridged USDC on Arbitrum) on a specific date, serving as a practical example for users researching cross-chain asset values.
What Are AXL and USDC.E?
Before diving into the conversion data, it's essential to understand the assets involved.
AXL (Axelar) is the native token of the Axelar network, a protocol designed to provide cross-chain communication. It enables seamless connectivity between different blockchain ecosystems, allowing users to transfer assets and data across various networks.
USDC.E refers to a version of USD Coin (USDC) that has been bridged to the Arbitrum blockchain. USDC is a fully regulated, dollar-digital stablecoin. The "E" in this context denotes its status as a bridged asset on the Arbitrum layer-2 scaling solution.
Historical Conversion Snapshot: October 22, 2024
The following data presents a historical snapshot of the exchange rate between AXL and USDC.E on October 22, 2024. This information is valuable for tracking past performance, calculating historical portfolio values, or understanding market trends for these specific digital assets.
AXL to USDC.E Conversion Table
On this date, the conversion rate was approximately:
- 1.0 AXL = 0.87906 USDC.E
Here is a conversion table for various amounts of AXL to USDC.E:
| Amount of AXL | Converted to USDC.E |
|---|---|
| 1.0 AXL | 0.87906 USDC.E |
| 2.0 AXL | 1.7581 USDC.E |
| 5.0 AXL | 4.3953 USDC.E |
| 10.0 AXL | 8.7906 USDC.E |
| 25.0 AXL | 21.976 USDC.E |
| 50.0 AXL | 43.953 USDC.E |
| 100.0 AXL | 87.906 USDC.E |
| 500.0 AXL | 439.53 USDC.E |
| 1000.0 AXL | 879.06 USDC.E |
| 5000.0 AXL | 4395.3 USDC.E |
| 10000.0 AXL | 8790.6 USDC.E |
| 50000.0 AXL | 43952.93 USDC.E |
USDC.E to AXL Conversion Table
The inverse rate on the same date was:
- 1.0 USDC.E = 1.1376 AXL
This table shows the conversion from USDC.E back to AXL:
| Amount of USDC.E | Converted to AXL |
|---|---|
| 1.0 USDC.E | 1.1376 AXL |
| 2.0 USDC.E | 2.2752 AXL |
| 5.0 USDC.E | 5.6879 AXL |
| 10.0 USDC.E | 11.376 AXL |
| 25.0 USDC.E | 28.440 AXL |
| 50.0 USDC.E | 56.879 AXL |
| 100.0 USDC.E | 113.76 AXL |
| 500.0 USDC.E | 568.79 AXL |
| 1000.0 USDC.E | 1137.6 AXL |
| 5000.0 USDC.E | 5687.9 AXL |
| 10000.0 USDC.E | 11375.81 AXL |
| 50000.0 USDC.E | 56879.04 AXL |
Why Do Crypto Exchange Rates Fluctuate?
Cryptocurrency exchange rates are highly volatile and can change rapidly based on a multitude of factors. A historical rate, like the one shown here, is a fixed point in time and does not reflect the current market value.
Key factors influencing these fluctuations include:
- Market Supply and Demand: The basic economic principle of buy and sell orders on exchanges.
- Overall Market Sentiment: News, regulatory announcements, and macroeconomic trends.
- Network Utility and Adoption: Increased use cases and integration for a token can drive demand.
- Cross-Chain Bridge Activity: The efficiency and liquidity of bridges moving assets between chains can impact the value of bridged tokens like USDC.E.
For those looking to execute a trade at the best possible rate, it is crucial to 👉 check real-time exchange rates on a reputable platform before completing any transaction.
Frequently Asked Questions
What is the difference between USDC and USDC.E?
USDC is the original stablecoin issued on base layer blockchains like Ethereum. USDC.E is that same USDC token after it has been transferred to the Arbitrum network via a cross-chain bridge. It represents a claim on the original asset but exists within the Arbitrum ecosystem.
Why would someone convert AXL to USDC.E?
Users might convert AXL to USDC.E to lock in gains, reduce exposure to AXL's volatility, or to use a stablecoin for payments and transactions within the Arbitrum DeFi ecosystem. Stablecoins like USDC.E are often used as a safe haven during market uncertainty.
Is this conversion rate guaranteed for future trades?
No, absolutely not. This data is strictly historical. The exchange rate between AXL and USDC.E changes constantly due to market forces. Always verify the live rate on a trusted exchange before initiating any conversion.
How can I safely convert AXL to USDC.E today?
To convert assets safely, you should use a well-known cryptocurrency exchange or a decentralized exchange (DEX) that supports both the Axelar and Arbitrum networks. Ensure you are using the correct contract addresses to avoid scams and always be mindful of network gas fees.
Can historical conversion data predict future prices?
While historical data is useful for analysis and spotting trends, it is not a reliable indicator of future performance. The cryptocurrency market is influenced by too many unpredictable variables to use past rates for accurate future predictions.
Where can I find the most current AXL to USDC.E rate?
The most accurate and up-to-date rates are always found on live trading platforms and price aggregation websites. These platforms aggregate order books from multiple exchanges to provide a real-time market price.