Come a long way since the last demo, becoming cooler and cooler. Magic system is fun to use. I have one suggestion if you want to add more to it. The charge to release now works so that once the chargebar is finished a spell is released. Make it so spells instead have varying degrees of power depending on how long you hold it down and also so that you can charge a bit longer. Think it will add some more coolness.
Looking forward to hopefully see some snippets of a story next demo, since Adventure game seems to be where you are going. Arena is good for testing the combat system though, if you are going adventure just slimes approaching is not going to cut it.
Think oldschool zelda is useful as inspiration. Would be cool to see some kind of town are with associated mechanics, wilderness and a quest.