📑INTRODUCTION

Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication. Powered by a decentralized open network of validators; anyone can join the network, use it, and build on it.

In this dashboard we will try to answer and analyze these questions :

• Since the $AXL token launch, how have wallets that bought $AXL used it? Are most wallets hodling or trading? What is the average holding period for wallets buying $AXL in the last month?

• Generally speaking, have users kept $AXL on exchange (in their Osmosis wallet) or have they bridge to other places?Analyze $AXL balances on Osmosis as compared to native on Axelar. How have these balances changed over time?

AXELAR WALLETS ACTIVITY Answer to Since the $AXL token launch, how have wallets that bought $AXL used it? Are most wallets hodling or trading? What is the average holding period for wallets buying $AXL in the last month?

✅OBSERVASION

• According to the chart of AXL holders by their wallet balance, it can be seen that most users have less than 1 AXL in their wallets, which is clear that these types of users have only temporarily entered this platform, and only 32 people have more than 10,000 AXL in their wallets. .
• AXL holders in last months is 9.91, which shows the average AXLs held by users in the previous month.
• The average AXL holds according to the daily scale is 21.4 AXL.

AXELAR Transfer activity metrics

NOTE

About the Integration

Axelar’s new general message passing (GMP) allows smart contracts to communicate with each other across chains. This allows developers to build cross-chain connected applications on Moonbeam that can tap into functionality from Polkadot, Ethereum, Avalanche, Cosmos, and beyond.

What is the Axelar network?

Axelar is the universal overlay network, securely connecting all blockchain ecosystems, applications, assets and users to deliver Web3 interoperability. Axelar is composed of a decentralized network of validators, secure gateway contracts, uniform translation, routing architecture, and a suite of software development kits (SDKs) and application programming interfaces (APIs) to enable composability between blockchains. This allows developers to build on the best platform for their use case, while being able to access users, assets and applications in every other ecosystem. Instead of pairwise cross-chain bridges, they can rely on a network architecture that provides a uniform code base and governance structure.

AXELAR Receive activity

✅OBSERVASION

• According to the count of AXL distinct sender per day chart, the chart just started to climb on Sep 28 and has the highest amount on the same day, which is 523.
• According to AXL senders, 5540 count transfers of users from AXL platform.

✅OBSERVASION

• In the graphs related to the transfer, both AVG and SUM values have recorded their maximum value of 1.4 million SUM and an average of 5,000 in one day on Nov 4.
• In the chart of AXL receiver count daily, the chart reached 560 receivers per day on Sep 28, and after that it was a downward chart, which has reached 152 per day so far.

Generally speaking, have users kept $AXL on exchange (in their Osmosis wallet) or have they bridge to other places?

✅OBSERVASION

• According to the chart which tokens are bought mostly, the cosmos token, ATOM, has the highest amount of purchases from AXL, followed by USD coins.
• The number of transactions made with different platforms by AXL shows that the number one destination of tokens is OSMO and then cosmos.

📑CONCLUSION

According to the above graphs and explanations, it can be concluded that AXL has experienced the flight of users to other platforms after the decrease in the value of its token. As the graphs show, only 22 AXL tokens are held daily, and the rest are swapped to other tokens. Like OSMO, ATOM is converted.

but also : The AXL token is a linchpin of this capability, supporting the most decentralized and robust security possible, and enabling smart contract logic to run cross-chain.

AXL tokenholders provide decentralized security and governance, and, in exchange, receive rewards and fees.

A unique gas services mechanism buys the AXL token on the back end, enabling users to transact seamlessly, and creating potential refunds that may lead to deflationary mechanisms on the network.

Discord : Badboy#2444

Thank you for taking the time to read this dashboard