The AXL coin has experienced a significant surge in price, increasing by 42% in the last 24 hours, catching the attention of the crypto community. Spot On Chain, an on-chain analytics provider, reported that this price increase coincided with a deposit of 500,000 AXL coins (equivalent to $420,000) from DWF Labs, a well-known market participant, into Binance. DWF Labs still holds 2.5 million AXL coins, valued at $2.1 million. Some speculate that DWF Labs may be looking to capitalize on the price surge by selling a portion of their holdings on Binance, while others believe the deposit could be a strategic move to increase liquidity or prepare for future market movements.



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