Why did AXS drop?

I've been noticing some fluctuations in the cryptocurrency market recently, particularly with AXS. Could you explain why AXS has been dropping in value? Is it due to market trends, specific news events, or perhaps some internal factors within the project itself? I'm curious to know if this drop is temporary or if there are longer-term concerns that investors should be aware of. Understanding these dynamics would help me make more informed decisions about my cryptocurrency portfolio.