Axelar's AXL token is in a slump, dropping to $0.6152 with a market cap of $552M. šŸ“‰ Since Dec. 16, AXL has slid 40%, with a 27.8% monthly loss. On-chain metrics hint at more declines:

- DeFi TVL fell from $367M to $254M, signaling reduced activity.

- Traders are moving AXL to exchanges, possibly cashing out.

- Sentiment is bearish with a -0.818 score.

- Derivative demand is down; open interest dropped to $10.44M.

Yet, whale interest is rising, offering a glimmer of hope. Will AXL bounce back? Share your thoughts below! šŸ’¬