Axion Staking Skyrockets: 75% of the Total AXN Supply Has Been Staked

Axion staking has surged a lot over the past several days, with the company’s stats reporting that 75% of the total AXN supply has been staked.

Published February 12, 2021 Updated 3 months ago

Axion staking has exploded recently, with the service performing a lot better than anyone would ever expect. Even Axion team itself seems to be positively surprised by the development, given how often they publish new updates about it on Twitter.

15-years takes have proven to be particularly interesting to investors, which is understandable, given that they provide massive returns and bonuses. But, they also require users to commit to staking AXN for the next 15 years in order to fully benefit from the mentioned bonuses, and the deal itself.

According to Axoin’s stats site, Axion Today, the project has seen nearly 75% of its total supply staked. AXN total supply sits at 256,229,219,146 ($55,476,188). Meanwhile, as much as 190,324,687,624 was staked already, which translates to around $41.2 million.

The stats page also reveals that Axion has around 20,870 total stakes at the time of writing, with the average stake size being 8.79 AXN, which is around $1,900 according to the current AXN price. The average stake length, however, is 1,277 days.

More and More People are Opting to Stake AXN for 5555 days

Now, as most people in the Axion community know, the longest staking period is 15 years, or 5555 days. With the average stake length being 1,277 days — around three and a half years — this means that there are quite a few 5555 day-long stakes to ensure such a strong rise of average stake days.

In fact, Axion noted two days ago that around 10% of AXN (over $5 million) is staked for 15 years. However, back then, the average stake length was 1,250 days. Now, only two days later, it climbed to 1,277, meaning that more people opted to join long-term staking since the announcement was made.

Axion also used the opportunity to announce a number of new developments, including the Axion Venture Auction, FIAT Onramp, a new website, a new marketing campaign, as well as Axion credit card. All of this is set to arrive in the following “month or so,” as the AXN team stated.

The project’s development is quite impressive, and while its price has failed to catch up with these new achievements and progressions, it might just be a matter of time before it happens. The company is also attempting to help with re-forestation, and so far, it has contributed around 1.38 million trees.

Avatar

Ali Raza Ali is a journalist with extensive experience in content creation, including online journalism and marketing. He holds a master's degree in finance and enjoys writing about cryptocurrencies and FintTech. Ali's work has been published on a number of major financial publications.